Legislation will promise Gulch money for affordable housing initiatives

Forthcoming Atlanta City Council legislation will guarantee that the controversial Gulch redevelopment will propel affordable housing initiatives across town, Mayor Keisha Lance Bottoms said during a Thursday press conference.

Propped up by nearly $2 billion in public financing and tax incentives, the potentially $5 billion plan to revitalize downtown’s 50-acre concrete wasteland calls for the creation of a $28 million, city-run affordable housing trust fund, which will help finance the construction and preservation of new units, offer residents down payment assistance and provide an anti-displacement fund to help legacy Atlantans stay in their homes.

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