The Atlanta Land Trust (ALT) has advanced predevelopment activities for the construction of 120 units across three sites in the Oakland City and East Lake neighborhoods. All three of these projects present urgent opportunities to mitigate gentrification resulting from public investments in the area with a comprehensive, equity-driven approach that connects people, place, and quality of life.
On August 6 the Atlanta Land Trust closed on the acquisition of a 3.5-acre parcel in the Oakland City neighborhood. A total of 42 units are planned for this site, half of which will be affordable. ALT submitted an application for a land disturbance permit to the city of Atlanta on July 30 for the construction of The Avenue at Oakland City at 1091 Tucker Avenue.
ALT recently closed on the sale of 520 Paines Avenue and has three other homes under contract with qualified buyers. Several additional scattered-site single-family homes are under development, including additional homes in the Pittsburgh neighborhood. Through a partnership with the Metro Atlanta Land Bank ALT will acquire 14 properties for permanently affordable housing.
We welcomed three new members to the ALT Board of Directors, all of whom are deeply embedded in the Atlanta community and are longtime affordable housing advocates.
ALT is honored to have recently received grant awards from Truist Community Development Department, Bank of America Foundation and Georgia Power Foundation which will support the creation of new permanently affordable units. The A Pathway Home campaign also raised significant funds for essential resources to support our homebuyers along their journey to homeownership. These investments help us secure quality affordable housing for everyone who wants to live in our city.