Working in partnership with Mayor Andre Dickens, Invest Atlanta continues its push to help finance the creation and preservation of 20,000 affordable housing units by 2030, and this latest investment will add 466 new units. Year to date, Invest Atlanta has closed on financing for 1,032 affordable housing units and is projected to exceed 2,000 units by the end of the year. Below are some of the latest developments approved for Invest Atlanta financing.
City Lights North Block
A $35 million tax-except loan will finance Phase V of Wingate's master redevelopment of Bedford Pines in the Old Fourth Ward. Located on Boulevard, the multifamily development will feature 187 housing units – all of which will be available at 60% area median income (AMI).
Bowen Homes Phase I
Plans are underway to transform the Brookview Heights neighborhood into a vibrant new community with quality, mixed-income housing and abundant green space. Located on Wilkes Circle in a historically neglected and environmentally stressed area of Atlanta, Bowen Homes Phase I will include 151 units and various floor plans. A $29.6 million tax-exempt loan will finance the development, and 107 units will be made affordable ranging from 30%-120% AMI.
729 Bonaventure
With financing from $1 million in 2021 Housing Opportunity Bonds, Partners for HOME is acquiring a 24-unit development that will provide permanent supportive housing in the Virginia Highland neighborhood. Located on Bonaventure, the building was originally built in 1930 and renovated in 2023 to preserve its historic character and modernize amenities.
Civic Center Senior
A $30 million tax-exempt bond is financing the new construction of a multifamily development in the Old Fourth Ward. Located on Pine Street, the development will feature 148 senior housing units – all of which will be made affordable between 50%-60% AMI. Civic Center Senior is part of a larger, multi-phased redevelopment of the Atlanta Civic Center site, which proposes at least 1,507 new apartment units, a new art-focused high school, a hotel, a grocery store, commercial space and office space.