Invest Atlanta approves millions for affordable housing and redevelopment in English Avenue, Vine City, Riverside
Invest Atlanta approved $25M in funding for housing and redevelopment, including 166 new units, most of them affordable.
ATLANTA — Invest Atlanta’s Board of Directors approved more than $25 million in Tax Allocation District (TAD) funding at its May meeting to support affordable housing, redevelopment, and community investment across several neighborhoods, including English Avenue, Vine City, Riverside, and Downtown Atlanta.
The largest share — $8.5 million in affordable housing grants — will fund the development of 166 housing units, with 150 designated as affordable at 30 to 80 percent of the area median income (AMI). The projects are expected to activate long-vacant parcels and leverage over $52 million in additional private investment, according to city officials.
“An Atlanta for all is one that prioritizes healthy, thriving neighborhoods,” said Mayor Andre Dickens, who chairs the Invest Atlanta board. “Using TAD funding strategically helps meet our affordable housing goals while supporting partnerships across the faith community and private sector.”
Affordable Housing Projects Approved
- 172 Vine Street (Vine City): In partnership with Cosmopolitan AME Church, Good Places and Collaborative Housing Solutions will build 70 mixed-income units on church-owned land. A $2.5 million Westside TAD Ascension Fund grant supports the development, which includes 63 units at 50–60% AMI and 17 units applying for state-supported housing vouchers.
- The Kennedy at Riverside (Upper Westside): Radiant Development Partners received $2.5 million from the Perry Bolton TAD to build 50 family-oriented units, 45 of which will be affordable at 50–60% AMI.
- Sunset Avenue (English Avenue): The Westside Future Fund was awarded a $2.5 million Westside TAD Ascension Fund grant to build 26 fully affordable units, including 5 units at 30% AMI.
- English Commons (English Avenue): Longtime community member Clifford Palmer received $1 million from the Westside TAD Resurgens Fund to build 20 units along James P. Brawley Boulevard. Sixteen will be affordable, with six priced at 60% AMI or below.
“Cosmopolitan AME Church has been a cornerstone of Vine City for more than 100 years,” said Rev. Dr. Cynthia Parnell McDonald. “This support allows us to breathe new life into our property while serving those most in need.”
Additional Investments Approved
- 2 Peachtree Redevelopment: Two Eastside TAD allocations were approved — $9 million for continued operations of 2 Peachtree and $11.06 million for the acquisition of the adjacent Five Points Center parking deck at 33 Pryor Street.
- Commercial Space Preservation: The board greenlit funding to support strategic property acquisitions across the Perry Bolton, Westside, and Stadium TADs to preserve affordable commercial space for small businesses and housing.
- Greenbriar Loan Adjustments: Modifications to the permanent loan and interest rate terms for Briar Park and Paramount developments in Greenbriar were also approved.
“TADs are one of the most powerful tools Atlanta has to shape inclusive growth,” said Dr. Eloisa Klementich, president and CEO of Invest Atlanta. “Over the last 10 years, they’ve generated $13.5 billion in economic impact and created more than 46,000 jobs citywide.”