More affordable houses, apartments bound for Atlanta’s Westside
By Sean Keenan
Hundreds of new homes priced as affordable are headed for Atlanta’s Westside by way of a couple new projects supported by Invest Atlanta, the city’s economic development arm.
On August 20, Invest Atlanta’s Urban Residential Finance Authority approved a $22.5 million tax-exempt loan to support a seven-acre project on Bolton Road spearheaded by KCG Development, according to the Atlanta Business Chronicle.
The planned development, dubbed “The Reserve at Bolton Road,” promises 209 rental units: 43 of which are slated to be priced for households making 40 percent or below the area median income (AMI); 133 would be priced for those earning at or below 60 percent of the AMI; and the other 33 residences would be affordable for families bringing home 80 percent or less than the AMI.
Sited just outside the Interstate 285 Perimeter and south of Donald Lee Hollowell Parkway, the development would feature a pool, clubhouse, workout facilities and communal spaces.
According to Invest Atlanta documents, the project would take 17 months to delivery once construction kicks off.
A few miles east, in and around English Avenue, the nonprofit Westside Future Fund (WFF) plans to develop dozens of single-family homes and apartments that could be move-in ready by the beginning of next year.
The endeavor would bring life to roughly 50 vacant single-family lots and build out 36 apartments, all part of WFF’s “Home on the Westside” community retention program and supported by Atlanta Housing (AH) project-based Homeflex vouchers.
The projects will be propelled in part by $17 million in public funds from Invest Atlanta and AH, and the finished products are expected to be priced for households earning 60 percent of the AMI or less.
(Header image, via Invest Atlanta: A rendering of the KCG Development project)