Housing affordability is foundational to a strong economy and healthy communities and is a number one priority for the City of Atlanta. Invest Atlanta is working closely with Mayor Andre Dickens to achieve an ambitious goal to create and preserve 20,000 affordable housing units by 2030. Learn more about some of the latest developments approved for Invest Atlanta financing, including Martin House, 143 Alabama, English Avenue single family sites and more.
Martin House
In addition to a $20 million tax-exempt bond approved in 2024, the Invest Atlanta Board approved the reallocation of $1.5 million in Housing Opportunity Bonds to support National Church Residences’ acquisition and rehabilitation of 153 senior housing units in the Adamsville community. Located on Martin Luther King, Jr. Drive, the Martin House was originally constructed in 2005 and requires extensive repairs. The investment will preserve affordability for another 30 years, and renovations will include all common areas and resident units.
143 Alabama
A $3.5 million Westside Tax Allocation District (TAD) Ascension Fund grant will help finance the stabilization, preservation and conversion of a historic building on Alabama Street in Downtown into affordable housing and cultural event space.
Phase I of the two-phase project includes cleanup and restoration of the building’s exterior and daylighting of the ground floor commercial space in advance of the FIFA World Cup 26™. The space behind the building, known as “The Pitch,” will be cleared and developed for cultural and World Cup events. After the World Cup, the building’s upper floors will be converted into 46 residential units ranging in affordability from 30%-80% area median income (AMI), and its ground floor will be renovated into 11,6000 square feet of commercial space.
Phase II of the project includes converting “The Pitch” into a newly constructed residential building, featuring 151 affordable units. Once both phases are complete, the site will house a total of 197 units – 190 of which will be affordable.
The 95,000-square-foot Art Moderne building was constructed in 1947 and originally housed the Atlanta Constitution’s printing facility. The building will be carefully preserved, ensuring Downtown Atlanta has a vibrant and unique architectural jewel where residents can live and socialize.
English Avenue Single Family Scattered Site
A $400,000 Westside TAD Resurgens Fund grant will finance the new construction of three single-family homes, as well as one redeveloped single-family home, which will be sold and marketed for permanent affordability. Located on English Avenue, the four homes will be available for homebuyers at 80% AMI or below and transferred to the Atlanta Land Trust (ALT) for permanent affordability.
The four properties were awarded to the Westside Future Fund in a 2019 request for proposal as part of Invest Atlanta’s Westside Property Disposition program. The program was created to remove blight and create homeownership opportunities in the English Avenue and Vine City communities using strategies that provide long-term, permanent affordability. To date, the Westside Future Fund has constructed 22 multifamily and single-family units utilizing assets acquired by Invest Atlanta.
Atlanta Single-Family Homes Affordable Preservation Projects
The Invest Atlanta Board approved a $2 million loan from the Housing Opportunity Bond Fund for the Atlanta Neighborhood Development Partnership to acquire and rehabilitate 40 single-family residential rental houses across scattered sites within the city of Atlanta. The homes will serve as affordable rentals for up to 10 years with a long-term goal of converting them into affordable homeownership. The scattered site rental project will preserve affordability for those earning 80% of the AMI and below.