Atlanta affordable housing receives final financing approval [Video]

ATLANTA — More affordable housing across Atlanta is coming closer to fruition as money pours in to preserve or create the units. 

The Invest Atlanta Board of Directors provided final approval of bond financing to create or preserve 391 affordable housing units at its September meeting, according to Atlanta Mayor Andre Dickens. The approved financing will help develop affordable housing at a range of area median incomes (AMI), including low-income residents at 30% of the AMI to help close the housing affordability gap in the city. 

Developments that received final approval include: 

Cosby Spear Highrise

A $49.5 million tax exempt loan is helping support the preservation of 282 senior housing units in the Old Fourth Ward neighborhood, according to a release. The property was built in 1972 and needs extensive renovation to update key building systems, building …