Report: Atlanta Housing spending nearly $50 million on new construction in FY2020
At long last, Atlanta’s housing authority is getting back into the construction game.
It’s been roughly a decade since Atlanta Housing built any new affordable residences, but a report outlining the agency’s development plans obtained by SaportaReport suggests some $46 million in new construction is underway or planned for the 2020 fiscal year (from July 2019 to July 2020).
That’s big news for a city that loses about 1,500 affordable housing units each year and an ambitious goal for Atlanta Housing, which is, in many ways, charged with plugging that leak.
AH’s budget for the FY2020 earmarked $106 million for investment in affordable housing creation and preservation.
One big-ticket item detailed in the report is the Herndon Square development, a long-stalled English Avenue project that’s shifted in scope over the past few years.
Current plans call for construction to kick off in January, and the $24 million first phase promises 97 affordable housing units for senior citizens priced below 60 percent of the area median income. Construction is expected to take some 15 months.
Subsequent phases of the Herndon Square project are anticipated to bring the number of residences there up to 718: The $60.6 million Phase 2 is projected to produce 120 market-rate dwellings and 80 affordable units, and Phases 3, 4, and 5 — a potentially $130 million investment altogether — would bring 252 market-rate residences and 168 affordable living options.
Another high-profile project coming down the pike is Ashley Scholars Landing, a multi-phase development underway near the Atlanta University Center.
Phase 1 of the project is nearly complete, poised to introduce 27 market-rate units and 108 affordable housing options. Thereafter, expect 113 more market-rate and 165 more affordable units in years to come.