{"result":[{"id":460,"title":"Transit-Oriented Affordability Comes to Edgewood-Candler Park MARTA Station","promo_title":"Transit-Oriented Affordability Comes to Edgewood-Candler Park MARTA Station","published_date":"2022-10-27","featured_image":{"id":2132,"parent_id":133,"resource_file_name":"img_20220929_1648197.jpg","resource_content_type":"image/jpeg","resource_file_size":830254,"resource_updated_at":"2022-10-27T11:05:25.012-04:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":1,"created_at":"2022-10-27T11:05:26.005-04:00","updated_at":"2022-10-27T11:06:26.201-04:00","filename_hash":"img_20220929_1648197_JZJzvaB.jpg","width":3996,"height":2664},"filename":"transit-oriented-affordability-comes-to-edgewood-candler-park-marta-station","meta_data_id":null,"published":true,"token":"5M8l-A","created_at":"2022-10-27T11:06:26.078-04:00","updated_at":"2022-10-27T11:06:26.078-04:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n A new development, featuring housing affordability, is now open at the Edgewood-Candler Park MARTA Station. Previously, the Invest Atlanta Board approved $45 million in lease-purchase bonds to convert an underused parking lot into affordable housing along Atlanta\u0026rsquo;s transit lines \u0026ndash; a key component of the city\u0026rsquo;s economic mobility strategy.\n\u003c/div\u003e\n","project_year":"2022","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eA new development, featuring housing affordability, is now open at the Edgewood-Candler Park MARTA Station. Previously, the Invest Atlanta Board approved $45 million in lease-purchase bonds to convert an underused parking lot into affordable housing along Atlanta\u0026rsquo;s transit lines \u0026ndash; a key component of the city\u0026rsquo;s economic mobility strategy.\u003c/p\u003e\r\n\r\n\u003cp\u003eColumbia Ventures LLC constructed the mixed-use residential and retail development on 1.99 acres of existing excess parking on the south side of the Edgewood-Candler Park MARTA Station. The development contains 208 residential units, 53 of which are workforce housing units affordable to households earning 80% area medium income.\u003c/p\u003e\r\n\r\n\u003cp\u003eIn addition to the residential development, there is a two-level parking deck, a shared central common area featuring .55 acres of green space, as well as a 7,000-square-foot commercial building.\u003c/p\u003e\r\n\r\n\u003cp\u003eAs part of this development, Columbia Ventures also constructed a 22,000-square-foot performing arts and administrative building for a youth-focused nonprofit financed by New Market Tax Credits.\u003c/p\u003e\r\n\r\n\u003cp\u003eAccording to Dawn Arnold, executive vice president and COO of Invest Atlanta, this project helps to fulfill an urgent and important need for housing affordability with convenient access to essential services and activities to minimize household cost burdens. \u0026ldquo;I\u0026rsquo;m proud to be adding more affordable housing units and complement development efforts occurring in Edgewood Park and the surrounding community,\u0026rdquo; says Arnold. \u0026ldquo;Transit-oriented development like Edgewood-Candler Park Station and similarly at the King Memorial Station helps to drive investment while decreasing a family\u0026#39;s\u0026nbsp;spend, allowing them to focus on other needs.\u0026rdquo;\u003c/p\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Renting\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n Eastside\n\u003c/span\u003e\n"},{"id":289,"title":"Mayor Keisha Lance Bottoms, Invest Atlanta, and MARTA Open iVillage @ MLK","promo_title":"Mayor Bottoms, Invest Atlanta, and MARTA Open iVillage @ MLK","published_date":"2019-08-28","featured_image":{"id":988,"parent_id":5,"resource_file_name":"ivillage_insight.png","resource_content_type":"image/png","resource_file_size":1827833,"resource_updated_at":"2019-08-28T08:46:55.536-04:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":2,"created_at":"2019-08-28T08:46:55.946-04:00","updated_at":"2019-08-28T08:47:29.954-04:00","filename_hash":"ivillage_insight_zmEDVRZ.png","width":1200,"height":707},"filename":"mayor-keisha-lance-bottoms-invest-atlanta-and-marta-open-ivillage-mlk","meta_data_id":null,"published":true,"token":"PqmpMg","created_at":"2019-08-28T08:47:29.911-04:00","updated_at":"2019-08-28T08:47:29.911-04:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n The first shipping container village in the City of Atlanta provides space for small business and entrepreneurship adjacent to transit.\u003cbr /\u003e\r\n\n\u003c/div\u003e\n","project_year":"2019","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eMayor Keisha Lance Bottoms, Invest Atlanta, and MARTA announced the grand opening of the iVillage @ MLK. The project houses a mix of local entrepreneurs in innovative office space to help them launch businesses and test new ideas along the MLK Corridor. The iVillage @ MLK is the first shipping container village in the City of Atlanta and a model for future innovation spaces in the city.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nAnnounced in December 2017, iVillage @ MLK houses eight small businesses that are expected to create approximately 20-25 jobs along MLK Drive. The shipping container development is designed to give small businesses the opportunity to grow and scale in an underserved community. By providing an affordable, transit-oriented office and retail option for local entrepreneurs, iVillage @ MLK aims to create a unique, equitable opportunity for entrepreneurs who are interested in starting a business in the City of Atlanta.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;To build thriving neighborhoods, communities, and businesses throughout the city, we need to think creatively about how we utilize space and ensure it serves the needs of our neighborhoods and residents,\u0026rdquo; said Mayor Keisha Lance Bottoms. \u0026ldquo;The iVillage @ MLK is a great example of partners coming together to create a place that brings opportunity and vibrancy to this community. Entrepreneurs are a cornerstone of Atlanta\u0026rsquo;s business ecosystem, and we are excited to be providing an opportunity for them to grow and become job creators.\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003eAlthough this is the first project of its kind in the City of Atlanta, container villages have been launched around the world. Cities including Las Vegas, London, Copenhagen, and San Francisco have developed container villages to create new, affordable retail or living space. Innovative developments like these around the world have been successful in not only economic growth, but also creating a greater sense of place within communities.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;The iVillage @ MLK is more than a new place for small businesses to locate, it is part of a larger strategy to bring economic investment and equity to key commercial corridors throughout the city,\u0026rdquo; said Dr. Eloisa Klementich, President and CEO at Invest Atlanta. \u0026ldquo;Locating the iVillage @ MLK within the community and adjacent to rapid transit creates a sense of place and connectivity for residents and iVillage tenants alike. It exemplifies how we can work in partnership to create economic opportunities and places where entrepreneurs can build their dreams.\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003eiVillage @ MLK is part of the City of Atlanta\u0026rsquo;s larger effort to continue investing in Westside communities, especially along the MLK Drive Corridor. In 2016, the city was awarded a $10 million TIGER grant from the U.S. Department of Transportation to help improve MLK Drive. That grant is part of a $22.7 million effort to improve mobility and increase access to transit, employment centers, and services along MLK.\u003c/p\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Development\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n MLK Corridor\n\u003c/span\u003e\n"},{"id":224,"title":"Invest Atlanta Announces Atlanta’s First Transit-Oriented Development Fund","promo_title":"Invest Atlanta Announces Atlanta’s First Transit-Oriented Development Fund","published_date":"2018-10-17","featured_image":{"id":730,"parent_id":5,"resource_file_name":"king_memorial_tod_insight.png","resource_content_type":"image/png","resource_file_size":870278,"resource_updated_at":"2018-10-17T11:37:40.346-04:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":2,"created_at":"2018-10-17T11:37:40.393-04:00","updated_at":"2018-10-17T11:39:48.592-04:00","filename_hash":"king_memorial_tod_insight_npXLK1E.png","width":1000,"height":477},"filename":"invest-atlanta-announces-atlantas-first-transit-oriented-development-fund","meta_data_id":null,"published":true,"token":"JVAuWQ","created_at":"2018-10-17T11:39:48.562-04:00","updated_at":"2018-10-17T11:39:48.562-04:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n Invest Atlanta recently announced the creation of a $15 million transit-oriented development (TOD) fund. This $15 million pilot fund will provide below-market, patient capital to support the acquisition and pre-development of workforce housing near MARTA stations, the Atlanta Streetcar, the Atlanta BeltLine and other modes of transit.\n\u003c/div\u003e\n","project_year":"2018","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eInvest Atlanta recently announced the creation of a $15 million transit-oriented development (TOD) fund. This $15 million pilot fund will provide below-market, patient capital to support the acquisition and pre-development of workforce housing near MARTA stations, the Atlanta Streetcar, the Atlanta BeltLine and other modes of transit. The fund will include $4.5 million of City of Atlanta Housing Opportunity Bond financing with an additional $10.5 million from Enterprise Community Loan Fund and Low Income Investment Fund.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;Every day, about 70 percent of our region commutes to a different county for work, which affects the productivity and economic output of our workforce,\u0026rdquo; said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. \u0026ldquo;Lowering a worker\u0026rsquo;s commute time by just one hour per week can effectively increase that worker\u0026rsquo;s wages by almost $1,000 annually. If we can achieve this with just 20 percent of our workforce through investments like the transition-oriented development fund, we can inject an extra $460 million into our local economy.\u0026rdquo;\u003cbr /\u003e\r\n\u0026nbsp;\u003cbr /\u003e\r\nThe $15 million in revolving funds will be used to provide low-interest loans to non-profit and for-profit affordable housing real estate developers. This financing structure will enable developers to access capital for TOD projects at a lower cost than traditional financing options. The projects supported through the pilot program will serve as case studies to attract additional sources of capital to the fund in the future. Enterprise Community Loan Fund and Low Income Investment Fund have implemented similar funding mechanisms in other areas, including the San Francisco Bay Area, Seattle/Puget Sound and Denver.\u003cbr /\u003e\r\n\u0026nbsp;\u003cbr /\u003e\r\nThe recent approval of the final More MARTA plan will make Atlanta a more transit-oriented city. By creating more affordable living options near transit with direct accessibility to major employment centers, the TOD Fund will provide greater economic opportunity for more residents across the city.\u0026nbsp;\u003cbr /\u003e\r\n\u0026nbsp;\u003cbr /\u003e\r\nSome recent transit-oriented developments supported by the City of Atlanta through Invest Atlanta include:\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003e\u003cstrong\u003eKing Memorial MARTA TOD: \u003c/strong\u003eA 385-unit modular multifamily community at the King Memorial MARTA station with 93 units income-restricted to households earning 80 percent of the area median income (AMI). The project included a $6 million Eastside Tax Allocation District (TAD) grant through Invest Atlanta to Place Properties to support the $64.5 million development.\u003c/li\u003e\r\n\t\u003cli\u003e\u003cstrong\u003eEdgewood-Candler Park MARTA TOD: \u003c/strong\u003eA mixed-use development near the Edgewood-Candler Park MARTA Station with retail and 224 apartments, 34 of which are designated as workforce housing. Financing for the project included a $42.9 million lease-purchase bond transaction approved by the Invest Atlanta board.\u003c/li\u003e\r\n\t\u003cli\u003e\u003cstrong\u003e161 Peachtree: \u003c/strong\u003eA 14-story, 345-unit residential tower at 161 Peachtree Center Avenue in Downtown Atlanta. Seventy units will be set aside for affordable workforce housing. The project included a $9 million Eastside TAD grant.\u003c/li\u003e\r\n\t\u003cli\u003e\u003cstrong\u003eThe Avery at Underground: \u003c/strong\u003eA 4-story, 180-unit multifamily workforce housing development to be developed at Underground with access to MARTA\u0026rsquo;s Five Points station.\u0026nbsp; The project received a $3.6 million Eastside TAD grant.\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Development\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n \n\u003c/span\u003e\n"},{"id":225,"title":"Moving in the Spirit Celebrates \"Groundsoaring\" for New Space Next to MARTA","promo_title":"Moving in the Spirit Celebrate \"Groundsoaring\" for New Space Next to MARTA","published_date":"2018-10-12","featured_image":{"id":733,"parent_id":5,"resource_file_name":"moving_spirit_groundbreaking_v2_insight.png","resource_content_type":"image/png","resource_file_size":884124,"resource_updated_at":"2018-10-23T10:33:15.180-04:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":2,"created_at":"2018-10-23T10:33:15.402-04:00","updated_at":"2018-10-23T10:33:35.402-04:00","filename_hash":"moving_spirit_groundbreaking_v2_insight_jpXy5ZW.png","width":1000,"height":447},"filename":"moving-in-the-spirit-celebrate-groundsoaring-for-new-space-next-to-marta","meta_data_id":null,"published":true,"token":"hzSMLw","created_at":"2018-10-22T10:20:26.760-04:00","updated_at":"2018-10-23T10:33:35.371-04:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n Moving in the Spirit officially opened its new \u0026ldquo;Space to Soar\u0026rdquo; with a \u0026ldquo;Groundsoaring\u0026rdquo; on Thursday, October 11 that included a procession, a dance performance, inspiring\u0026nbsp;speeches, and reception for families and attendees.\u003cbr /\u003e\r\n\u0026nbsp;\n\u003c/div\u003e\n","project_year":"2018","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eMoving in the Spirit officially opened its new \u0026ldquo;Space to Soar\u0026rdquo; with a \u0026ldquo;Groundsoaring\u0026rdquo; on Thursday, October 11 that included a procession, a dance performance, inspiring speeches, and reception for families and attendees.\u003c/p\u003e\r\n\r\n\u003cp\u003eFor over 30 years, Moving in the Spirit has used the discipline of dance to help Atlanta\u0026rsquo;s young people develop the critical social, emotional and cognitive skills they need to thrive.\u003c/p\u003e\r\n\r\n\u003cp\u003eA capital campaign raised $8.4 million to build a new home for the organization at the Edgewood/Candler Park MARTA Station. With easy access to transit, young people from across the city will be able to travel to this space easily.\u003c/p\u003e\r\n\r\n\u003cp\u003eThe Space to Soar will include a top-notch stage, classrooms, as well as other amenities, and will allow Moving in the Spirit will be able to double their capacity.\u003c/p\u003e\r\n\r\n\u003cp\u003eAtlanta Emerging Markets, Inc. (AEMI) provided an $8.5 million New Markets Tax Credit allocation for this project with our partners at PNC Bank. Other great youth-focused non-profit and educational institutions in the City of Atlanta have been supported through AEMI, including Families First, Sheltering Arms, the Boys \u0026amp; Girls Club of Metro Atlanta, and Cristo Rey Atlanta.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;Connecting young people from across the city to access constructive extra curriculum activities is crucial to their development. The new Moving In The Spirit complex will provide a new space for community performances and arts events, will create new full-time jobs and will make a $12.3 million economic contribution to our city,\u0026rdquo; said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. \u0026ldquo;As a former ballerina myself, I have a simple message for the hundreds of Atlanta children who will have the chance to learn here: have fun and keep those feet dancing!\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn attendance at the event were dozens of children and their families, as well as Jamie Hardin, Moving in the Spirit Board Chair; Noel Khalil, Columbia Ventures Co-Founder and Partner; Jeffrey Parker, MARTA CEO; Dr. Eloisa Klementich, Invest Atlanta President \u0026amp; CEO; and Councilmembers Natalyn Archibong and Matt Westmoreland.\u003c/p\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Development\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n Eastside\n\u003c/span\u003e\n"},{"id":175,"title":"IA Supports Workforce Housing at Edgewood-Candler Park MARTA Station","promo_title":"IA Supports Workforce Housing at Edgewood-Candler Park MARTA Station","published_date":"2018-02-20","featured_image":{"id":545,"parent_id":5,"resource_file_name":"edgewood_tod_new.png","resource_content_type":"image/png","resource_file_size":1509798,"resource_updated_at":"2018-02-20T15:18:59.257-05:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":1,"created_at":"2018-02-20T15:18:59.300-05:00","updated_at":"2018-05-29T13:48:19.855-04:00","filename_hash":"edgewood_tod_new_XJJX9B4.png","width":953,"height":604},"filename":"workforce-housing-edgewood-tod","meta_data_id":null,"published":true,"token":"trl6Ag","created_at":"2018-02-20T15:19:51.867-05:00","updated_at":"2018-05-29T13:48:19.837-04:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n A new transit-oriented development (TOD) near the Edgewood-Candler Park MARTA Station will include 34 affordable workforce housing units, thanks to support from Invest Atlanta.\n\u003c/div\u003e\n","project_year":"2018","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eA new transit-oriented development (TOD) near the Edgewood-Candler Park MARTA Station will include 34 affordable workforce housing units, thanks to support from Invest Atlanta.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThe IA board approved a resolution to issue $42.9 million in lease purchase bonds to support the project. The residential and retail development is nearly complete, and once open, will offer 224 rental units, 34 of which will be workforce housing units affordable to households earning 80% AMI or below.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eBy converting underutilized parking to productive mixed-use space, this TOD will provide new mixed-income housing, retail, and service options to the surrounding community. The total economic output for the project is estimated to be over $60 million.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThis project aligns with Invest Atlanta\u0026#39;s goal to create more affordable living options close to transit, and with it, greater access to opportunities for our residents. Invest Atlanta has supported MARTA\u0026rsquo;s Transit Oriented Development strategy with other projects, including one at \u003ca href=\"http://www.investatlanta.com/impact-insights/invest-atlanta-supports-projects-key-to-citys-past-present-and-future\"\u003eKing Memorial Station\u003c/a\u003e.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003e\u003cstrong\u003eUPDATE: \u003c/strong\u003eInvest Atlanta closed on the $42.9MM lease-purchase bond in early May 2018, a few months before the development\u0026#39;s grand opening.\u003c/em\u003e\u003c/p\u003e\r\n\r\n\u003cdiv\u003e\u0026nbsp;\u003c/div\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Development\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n Eastside\n\u003c/span\u003e\n"},{"id":19,"title":"The iVillage @ MLK Shipping Container Village Officially Announced","promo_title":"The iVillage @ MLK Shipping Container Village Officially Announced","published_date":"2017-12-19","featured_image":{"id":226,"parent_id":34,"resource_file_name":"ivillage_top.jpg","resource_content_type":"image/jpeg","resource_file_size":960803,"resource_updated_at":"2017-12-20T14:45:07.880-05:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":1,"created_at":"2017-12-20T14:45:08.396-05:00","updated_at":"2018-02-06T12:42:40.454-05:00","filename_hash":"ivillage_top_DNxem41.jpg","width":5155,"height":3147},"filename":"the-ivillage-mlk-shipping-container-village-officially-announced","meta_data_id":null,"published":true,"token":"kaIk_A","created_at":"2017-12-20T14:47:06.001-05:00","updated_at":"2018-02-06T12:42:40.422-05:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n Mayor Kasim Reed, Invest Atlanta and MARTA announced The iVillage @ MLK, a transit-oriented development made of repurposed shipping containers.\n\u003c/div\u003e\n","project_year":"2017","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eMayor Kasim Reed, Invest Atlanta and MARTA officially announced The iVillage @ MLK, a transit-oriented development made out of repurposed shipping containers, at H.E. Holmes MARTA Station.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;This shipping-container iVillage is not only the first of its kind in the State of Georgia, it\u0026rsquo;s another example of how the City of Atlanta supports innovation and entrepreneurship,\u0026rdquo; said Mayor Reed. \u0026ldquo;This concept is being featured in leading cities such as London, Copenhagen and San Francisco. With the new iVillage at the H.E. Holmes MARTA station, we are leveraging a smart, sustainable idea to expand our commitment to creating new hubs of innovation all over the City. I am pleased that this new iVillage will be one component of improvements and investments to improve mobility and access to economic opportunity along the Martin Luther King, Jr. Drive corridor.\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003eOnce construction on the project is complete, the iVillage @ MLK will provide affordable, transit-accessible retail and office space for small businesses. A total of 14 shipping containers will be used to create around 6,500 square feet of commercial space. The development will also include sizable lawn and deck areas to host public events.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;I\u0026rsquo;m looking forward to the day when local entrepreneurs are here every day, bringing their new ideas and energy to this area,\u0026rdquo; said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. \u0026ldquo;One day, we hope to see many of the businesses launched take root up and down the MLK Corridor and look forward to working with the community to make The iVillage @ MLK a place of pride and purpose.\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003eThe iVillage @ MLK will provide the opportunity for reimagining the possibilities of a public space, putting it to new and attractive use for local businesses and residents. MARTA will examine future opportunities for transit-oriented development at H.E. Holmes Station to ensure more people can live affordably near our job centers and transit nodes.\u003c/p\u003e\r\n\r\n\u003cp\u003eThough this is the first project of its kind in Georgia, container villages have been launched around the world. Cities like Las Vegas, London, Copenhagen, and San Francisco have developed container villages to create new affordable retail or living space. Innovative developments like these around the world have been successful in not only economic growth, but also creating a greater sense of place within communities.\u003c/p\u003e\r\n\r\n\u003cp\u003eThe iVillage @ MLK is part of the City of Atlanta\u0026rsquo;s larger effort continue to transform Westside communities, especially along the Martin Luther King, Jr. Drive Corridor. The iVillage is more than just development of office and retail space, it\u0026rsquo;s part of a larger strategy to bring economic investment to key commercial corridors throughout the city like MLK Drive.\u003c/p\u003e\r\n\r\n\u003cp\u003eLast year, the City of Atlanta was awarded a $10 million TIGER grant from the U.S. Department of Transportation to help improve MLK Drive. That grant is part of a $22.7 million effort to improve mobility and increase access to transit, employment centers and services along MLK.\u003c/p\u003e\r\n\r\n\u003cp\u003eApplications will be made available soon for entrepreneurs interested in leasing space at The iVillage @ MLK.\u003c/p\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Businesses\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n MLK Corridor\n\u003c/span\u003e\n"},{"id":41,"title":"Invest Atlanta Approves Creation and Retention of Nearly 500 Units of Affordable and Workforce Housing","promo_title":"Creation and Retention of nearly 500 Affordable Workforce Housing Units Approved","published_date":"2017-07-20","featured_image":{"id":249,"parent_id":33,"resource_file_name":"avery_rendering_feature.jpg","resource_content_type":"image/jpeg","resource_file_size":292841,"resource_updated_at":"2017-12-21T10:06:04.526-05:00","caption":"","description":null,"attachable_id":null,"attachable_type":null,"assets_resource_uses_count":1,"created_at":"2017-12-21T10:06:04.720-05:00","updated_at":"2018-04-03T12:31:04.779-04:00","filename_hash":"avery_rendering_feature_1OmY7Ea.jpg","width":2223,"height":1667},"filename":"invest-atlanta-approves-creation-and-retention-of-500-units-of-affordable-and-workforce-housing","meta_data_id":null,"published":true,"token":"TbDKEg","created_at":"2017-12-21T10:08:03.113-05:00","updated_at":"2018-04-03T12:29:32.982-04:00","video_link":"","promo_description":"\u003cdiv class=\"datatype-wysiwyg-basic promo_description\"\u003e\n \u003cdiv\u003e\r\n\u003cdiv\u003e\r\n\u003cdiv\u003e\r\n\u003cdiv\u003eMayor Kasim Reed and the Invest Atlanta board approved five projects that will support nearly 500 units of affordable workforce housing.\r\n\u003cdiv\u003e\u0026nbsp;\u003c/div\u003e\r\n\u003c/div\u003e\r\n\u003c/div\u003e\r\n\u003c/div\u003e\r\n\u003c/div\u003e\r\n\n\u003c/div\u003e\n","project_year":"2017","content":"\u003cdiv class=\"datatype-wysiwyg content\"\u003e\n \u003cp\u003eAt Invest Atlanta\u0026rsquo;s July monthly board meeting this morning, Mayor Kasim Reed and members of the Invest Atlanta board approved five projects that in total would create or retain 484 units of affordable and workforce housing. The new developments will increase the availability of affordable housing within Atlanta\u0026rsquo;s in-town communities and are located near MARTA transit lines.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;For Atlanta to remain a place everyone can call home, we must continue to prioritize affordability and mobility. I am proud that the Invest Atlanta board was able to support the creation of nearly 500 units of affordable housing for working families,\u0026rdquo; said Mayor Kasim Reed. \u0026ldquo;I believe it is essential for every public agency in Atlanta to prioritize affordability, and I look forward to continuing to work with the development community to ensure more of our residents have access to affordable, high-quality housing.\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026ldquo;Under Mayor Reed\u0026rsquo;s leadership, the board took significant action in our efforts to create, rehabilitate, and preserve affordable housing throughout Atlanta,\u0026rdquo; said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. \u0026ldquo;Working with our partners at Atlanta Housing Authority (AHA), the City of Atlanta, and the Atlanta BeltLine Inc., our goal is to produce or rehabilitate 10,000 residential units for a range of incomes by 2020. Today, we took another step forward to achieve this.\u0026rdquo;\u003c/p\u003e\r\n\r\n\u003cp\u003eThe board approved resolutions dealing with five development projects:\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eThe Avery at Underground Atlanta:\u0026nbsp;The board approved a $3.6 million Eastside TAD grant to develop a $36.7 million, 4-story workforce multifamily development within the heart of Underground Atlanta. Of the 180 total units, 150 (83%) will be income restricted to households earning 60% AMI or below and 30 units (17%) will be market-rate units targeted at households earning 80%-120% of AMI.\u003c/li\u003e\r\n\t\u003cli\u003eNewport South Downtown Redevelopment:\u0026nbsp;The board approved an $8 million Eastside TAD grant to Newport U.S. RE to renovate and adaptively reuse 38 buildings in South Downtown into a vibrant mixed-income, mixed-use neighborhood. The development will include 52 residential units, 11 of which will be targeted to households earning 80% AMI. The overall project is estimated to create 2,300 new permanent jobs and have an economic impact of $260 million.\u003c/li\u003e\r\n\t\u003cli\u003eKing Memorial MARTA Transit-Oriented Development (TOD):\u0026nbsp;The board approved a $6 million Eastside TAD grant to Place Properties to support the development of a $64.5 million, 385-unit modular multifamily community at the King Memorial MARTA station. Twenty-five percent of the units, or 93, will be income-restricted to households earning 80% AMI.\u003c/li\u003e\r\n\t\u003cli\u003eEdgewood Court Apartments:\u0026nbsp;The board approved an inducement resolution to issue $26.4 million in tax-exempt bonds to finance the acquisition, rehabilitation, and preservation of 222 units of multifamily affordable housing. These units are income-restricted to households earning 60% AMI, with residents paying no more than 30% of their income toward rent.\u003c/li\u003e\r\n\t\u003cli\u003eQuest Village at D\u0026rsquo;alvigney:\u0026nbsp;The board approved a resolution authorizing a $245,800 loan from the Vine City Housing Trust fund to rehabilitate a 12-unit multifamily development at 694 and 700 D\u0026rsquo;alvigney Street. Quest Community Development Organization will manage the construction.\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003eThe Invest Atlanta board approved an unprecedented 27 resolutions, including 16 projects that address our city\u0026rsquo;s most important goals like job growth, affordable housing, mobility, and neighborhood revitalization. From catalytic projects, like Underground Atlanta and Colony Square to transit-oriented development at King Memorial MARTA station, to preserving affordable housing in Edgewood, these newly approved projects will help our city for years to come. In total, these projects will bring more than 7,000 new jobs, a total capital investment in our city of over $750 million, an economic impact of $1.5 billion, and almost 500 affordable workforce housing units close to our major employment centers.\u003c/p\u003e\r\n\r\n\u003cp\u003eLast month, the Invest Atlanta board approved resolutions supporting the creation and retention of 161 affordable housing units. Looking ahead, a significant amount of funding for affordable housing will be invested in the coming years. This $140 million in funding includes $40 million from Housing Opportunity Bonds, $26 million in Homeless Opportunity Bonds (along with an additional $25 million contribution from the United Way), $60 million through a funding agreement between Invest Atlanta and the Atlanta Housing Authority (AHA), and $12 million from the Atlanta BeltLine Affordable Housing Trust Fund.\u003c/p\u003e\r\n\n\u003c/div\u003e\n","category_id":"\u003cspan class=\"datatype-select_field category_id\"\u003e\n Development\n\u003c/span\u003e\n","location_id":"\u003cspan class=\"datatype-select_field location_id\"\u003e\n South Downtown\n\u003c/span\u003e\n"}]}