A two-acre land donation from the CF Foundation positions the Atlanta Land Trust (ALT) to build 40 townhomes for purchase — half deemed affordable for moderate-income Atlantans — in East Lake.
Today, the site sits vacant, right behind the Glenwood Avenue Publix. But with the help of philanthropic investors and public subsidy, ALT plans to develop the Trust at East Lake, a community of one-to-three-bedroom townhomes, sized from 600 to 1,500 square feet, with prices starting at $155,000.
Twenty will be priced for households earning up to 80% of the area median income, or $68,960 for a family of four. The rest will be priced for buyers making between 80% and 120% of AMI, according to the land trust. The metro-Atlanta median income for a family of four is $86,200, so 120% of that is $103,440.
