$15 Million Equitable Transit-Oriented Development Fund Launches in Atlanta
The city of Atlanta is making strides to expand housing in opportunity-rich neighborhoods and connect residents to community assets. In 2019, Mayor Keisha Lance Bottoms announced a plan to invest $1 billion in affordable housing to address the city’s critical need of 24,000 units.
In response, LIIF and Enterprise Community Loan Fund have joined Invest Atlanta, the city’s development authority, to launch a $15 million Atlanta Equitable Transit-Oriented Development (TOD) Fund. The fund offers patient acquisition and pre-development capital to catalyze the preservation and development of affordable housing near transit hubs. As a result, it will increase access to more than 280,000 jobs already along the MARTA network and increase the mobility of residents in accessing health services and educational opportunities.
“Equitable, transit-oriented development places housing and vital community services close to transit, which provides social, economic and environmental benefits to low-income families and their communities,” said LaToya Kyle, LIIF’s Deputy Director of the Southeast. “Investing in the TOD fund is part of our ongoing commitment to prevent displacement and create more affordable housing in Atlanta.”
The Transformation Alliance, Atlanta’s SPARRC consortium, was included in the initial conversations to ensure the program is equitable in accessibility, deployment and impact. Upon successful execution of the pilot, it is the city’s intent to expand the program with public and private capital.
To partner or obtain more information, please contact LaToya Kyle at email@example.com