City legislation seeks to encourage creation of truly affordable housing in booming communitiesAtlanta City Hall. (Credit: Ben Abrams)
Atlanta City Councilman Andre Dickens recently proposed legislation that aims to encourage developers to include what experts have called “deep affordability” at residential projects in some of the city’s rapidly gentrifying communities.
The proposed ordinance would add another option to the city’s inclusionary zoning (IZ) policies, which today require developers to earmark a portion of residential units they’re building near the Beltline and in parts of Atlanta’s Westside for affordable housing.
Currently, they must reserve 15 percent of the new units for households making 80 percent of the area median income (AMI) or less or 10 percent of the units if they price them for folks earning at or below 60 percent of the AMI. Otherwise, they have to pay an in-lieu fee that allows them to forgo affordable housing creation.