Workforce Apartments Planned Across from Atlanta City Hall
An affordable place for Atlanta’s city workers is taking shape. The Atlanta Business Journal reports a duo of developers affiliated with three area churches are planning 200 workforce apartments across the street from Atlanta City Hall.
Radiant Development Partners and Capitol Hill Neighborhood Development Corp. hope to start construction on the 10-story project, known as Trinity Flats, by the end of the year.
The project has received 4% low-income housing tax credits, thanks to the George Department of Community Affairs, which will contribute about $50 million in equity toward the project. The total development cost for the project are expected to be around $72 million. Other funding sources include tax-exempt loans, bonds and a commitment from Partners for Home, the city’s primary partner for ending homelessness.
Plans include approximately 7,500 square feet of retail space to be installed along Central Avenue.
Most of the apartments are to be set aside for households earning 50% and those earning 80% AMI.
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Atlanta Commercial Real Estate News
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