Hundreds of new affordable housing are opening or in the planning stages for the Atlanta BeltLine, one of the hottest real estate destinations in the city.
As Atlanta’s housing prices soar, organizations including the BeltLine, Invest Atlanta, Westside Future Fund and Atlanta Mayor Kasim Reed’s office are working on ways to keep longtime residents in their homes or offer affordable rents and mortgages to those moving into the city.
It’s an issue that is not expected to be resolved easily.
Intown neighborhoods have become more attractive as millennials, seeking high-paying tech jobs, are moving into the city to be close to work in Midtown and Buckhead. Boomers are downsizing from their spacious homes in the suburbs after becoming empty-nesters. And everyone hates the metro area’s ever-exasperating traffic congestion, pushing many to see moving intown as a refuge from the snarls.
“Atlanta and a lot of cities in the southeast are starting to deal with the problems of housing affordability that places like Boston and New York have been tackling for while,” said Tina Lowe, president of the southeast division of Mercy House, whose organization recently opened a building for seniors on the BeltLine’s eastside trail.
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