The city is set to work with Invest Atlanta to build an apartment building with other mixed-use space on a vacant, one-acre site across from Atlanta City Hall at 104 Trinity Avenue. Invest Atlanta will identify a developer to tackle the project.
The Land Bank will help build the three single family homes to sell on the southwest Atlanta properties, which will also have accessory dwelling units. The homes will be sold through the community land trust model, in which the Atlanta Land Trust maintains ownership of the land to ensure it stays affordable, while the resident owns the home.
Officials have not yet said exactly how much the homes and apartments could cost, but the city typically defines housing as “affordable” if it is priced for people who make under 60% to 80% of the area’s annual median income, which is $82,700 for a family of four in metro Atlanta.
The Department of City Planning presented the first four properties to the City Council’s community development committee Tuesday. The committee passed ordinances approving their development; they are expected to pass the full Council on Monday.
Next, the city plans to take a closer look at its assets to analyze whether more public property could be used for housing. Bottoms signed an administrative order creating an interagency advisory council to look at the potential uses of additional land.