An affordable 36-unit townhome project in Atlanta’s Oakland City neighborhood is moving closer to a groundbreaking, according to a permit application filed to begin site improvement work at 1091 – 1095 Tucker Ave. SW.
The project is being led by a joint venture consisting of Atlanta Land Trust and Intown Builders LLC. Atlanta Land Trust joined forces with the Atlanta homebuilder last summer after issuing a Request for Qualifications.
The new development will rise on a vacant 1.7-acre parcel of land donated to Atlanta Land Trust by nonprofit Enterprise Community Partners. The project has a development budget of about $10.9 million and was approved for a $1.17 million grant by Invest Atlanta in February. This week’s permit application lists a cost of construction for the site improvement work of $1 million.
The development team received special administrative permit approvals for the project in April, according to documents on file with the city.
Project plans call for all but seven townhomes to be below market rate. The development team will reserve 18 units for households at 80 percent of area median income or below and 11 units for households at 100 percent of AMI or below.
“This is an important opportunity to preserve equitable outcomes in housing affordability and to help mitigate displacement of long-time residents,” Atlanta Land Trust wrote in a project summary in SAP filings.
A website for the upcoming community lists its name as Avenue At Oakland City.
Townhomes will be split between five three-story buildings surrounded by 52 parking spaces for residents and almost 70,000 square feet of open space in the form of trails and other green space, plans show.
The project architect is Xmetrical.
Established in 2009, Atlanta Land Trust is a nonprofit organization working to acquire and steward permanently affordable housing in Atlanta. As of the spring, it had a pipeline of 200 units.
