WANF: Atlanta Mayor Andre Dickens announces $200M investment in affordable housing
Alexandra Parker and Patrick Quinn, WANF
ATLANTA, Ga. (Atlanta News First) - Atlanta Mayor Andre Dickens has announced a $200 million public-private partnership aimed at increasing affordable housing in the city.
“Several of these projects are ready to go, and this funding that we’re talking about today will help to expedite their delivery,” said Atlanta Mayor Andre Dickens.
The mayor spear-headed the announcement on Tuesday outside Academy Lofts, a mixed-income housing complex in southwest Atlanta.
“Everyday I just turn and look at the building, because now I’ve got a home. I be smiling because I can go home now, I’ve got a key,” said Tonette Freeman, who said through City housing programs, here life was transformed.
“I’m just so emotional because, I was out there, I was out there,” said Freeman, who said she was living on the street for 17 years before finding supportive housing.
The Community Foundation for Greater Atlanta announced a $100 million commitment from the Robert W. Woodruff Foundation and Joseph B. Whitehead Foundation, providing dollars to further leverage the proposed public funding.
“The stars are aligned to address the lack of affordable housing in Atlanta. The Mayor has made it a top priority, and housing advocates together with experienced real estate professionals have organized – in alignment with the Mayor and the Atlanta Housing Authority – to address the issue,” said Russ Hardin, CEO of The Robert W. Woodruff Foundation.
“The Woodruff and Whitehead Foundations are pleased to invest in the Community Foundation’s leadership, and we are hopeful that the return on our investment will mean well-located, decent, affordable housing for more Atlantans,” Hardin said, in a release.
On Tuesday, Dickens said he’s working with the Atlanta City Council to secure $100 million in housing bonds.
Before any money can be allocated, the Council will have to determine where in its 2024 budget the bond debts will be pulled from.
This would mark the fourth housing bond passed by the City Council since 2007.
One city councilmember said he believes the Council will vote on the financing surrounding the housing bond in early June.
“Affordable housing has been central in my Administration and today’s announcement is a gamechanger in our ability to have projects keep pace with a rapidly evolving market,” said Mayor Dickens.
“Thank you to the Robert W. Woodruff Foundation and Joseph B. Whitehead Foundation for their generosity, Community Foundation for Greater Atlanta for their steadfast partnership and the Atlanta City Council in advance for their collaboration on this once in a generation opportunity to provide affordability relief for Atlantans.”
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