Home News Parkside Opens Offering 182 Affordable Homes on Westside

Parkside Opens Offering 182 Affordable Homes on Westside

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Atlanta BeltLine, Inc. (ABI) This week we celebrated the ribbon cut and grand opening ParksideWestside 100% Affordable Housing Community Prestwick Development Company..

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Appeared with the Mayor of Atlanta Andre DickensInvest in Atlanta Dr. Eloisa ClementichAtlanta City Council Dustin HillisAnd Prestwick Executive, ABI President and CEO Clyde Higgs He said, “After all, it’s about people. This brick, metal, and wood you see is just a conduit to the results we want. When thinking about BeltLine’s vision, this is what we’re trying to do. That’s what it means: access to work, transportation options, affordable housing, arts and culture, access to greenery. It’s all about the collaboration of all our partners to make this happen. “

Parkside, located in the 1314 Donald Lee Hollowwell Parkway in the Bankhead / Historic Westin Heights District, is located within the Beltline Tax Allocation District (TAD) and received a $ 2 million donation from the Beltline Affordable Housing Trust Fund. ..

Developer Prestwick Development Company received a $ 3 million tax exemption loan from Invest Atlanta, low-income housing tax credits from the Georgia Community Authority, and additional loans through Enterprise Community Partners, Sugar Creek Capital, and Bellweather Enterprise. rice field.

“As the city of Atlanta continues to grow, we need to remember one important pillar for growth, which is to create a strong and prosperous community for everyone,” said Invest Atlanta, President and CEO. Dr. Eloisa Klementich, CEO, said. “Building a stronger community requires a coordinated community development strategy focused on housing, employment, small business development, educational facilities, green spaces and other areas of need. Parkside is a partner. Is another great example of gathering together to create assets to support the prosperity of this community. “

Parkside is one block from Bankhead MARTA Station and Maddox Park. Located on Proctor Creek, with easy access to the Proctor Creek Greenway starting from MARTA Station.

All 182 units are dedicated to the next level of Area Median Income (AMI) affordable residential units. 57 units for 50% AMI, 96 units for 60% AMI, 29 units for 70% AMI.

The new apartment includes open floor plan 1, 2, and 3 bedroom options. The complex includes a wellness / fitness center, business center, conference center, and multiple community spaces.

According to the press release, “Although not a housing agency, ABI works with multiple partners to achieve affordable housing goals and create and maintain affordable housing and commercial affordability within BeltLineTAD. Fund development projects like Parkside. ” In partnership with Invest Atlanta, the ABI manages the Atlanta BeltLine Affordable Housing Trust Fund (BAHTF) and the BeltLine TAD Excess Increment Fund. TAD is a funding tool that is projected to cover about one-third of the cost of building an overcommitted Atlanta Beltline for affordable homes.

Located on Proctor Creek, just south of the Parkside, it is a 31-acre site on Chapel Road purchased by the ABI in 2021. By owning the land, the ABI guides residents and small businesses to affordable and thoughtful development.

Nearby Westside Trail — Segment 3 is under construction and is nearing completion. Westside Trail — Segment 4 is 60% designed.. Westside Beltline Connector to Downtown opened last year..

To date, the ABI has partnered with the organization to create or store 3,100 affordable units within TAD. In the wider Beltline Planning Area, a total of 4,755 affordable units have been created or stored within walking distance of the Atlanta Beltline. Thanks to the city of Atlanta’s Comprehensive Zoning Ordinance, the ABI has already exceeded its annual target by 2022, set as 320 affordable units annually, and 373 units have been created or preserved. .. The law, sponsored by then-councilor and now mayor of Atlanta, Andre Dickens, and endorsed by other city leaders, came into force in January 2018.

The ABI also manages the Legacy Resident Retention Program (LRRP) in collaboration with the Atlanta BeltLine Partnership (ABP). Until 2030, the program will provide financial support to cover property tax increases for eligible homeowners who are financially burdened by property tax increases.

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