ATLANTA — Affordable housing is getting a boost in the southwest Atlanta neighborhood of Oakland City with new town homes beginning to come to market for less than $200,000.
They're part of the Avenue at Oakland City development on Tucker Avenue. Listings from Zillow show at least one of the homes available for $186,000.
While far from free, it's a welcome injection of new affordable housing into a fast-gentrifying part of Atlanta.
The development, spearheaded by the affordable housing group Atlanta Land Trust, has long been in the works. Urbanize Atlanta first reported this week that units were beginning to be available on the market.
Plans are for the development to eventually include 36 units of 2- and 3-bedroom homes across five total buildings.
How you can be eligible to purchase one
Atlanta Land Trust plans to make the homes available to families earning less than 80% of the area median income.
That means you qualify if your income is:
- 1-person household: $48,300 per year
- 2-person household: $55,200 per year
- 3-person household: $62,100 per year
- 4-person household: $68,950 per year
You must also have a minimum credit score of 620 and a personal savings of at least $1,500, as well as bank statements showing 60 days of consistent activity. Only people who are employed, disabled or a senior citizen are eligible.
Atlanta Land Trust says that to begin the process of becoming eligible, you need to join their mailing list and attend one of the organization's bimonthly Community Information Sessions.
You can sign up for the Atlanta Land Trust mailing list here and check for Community Information Session dates here.
The developments are facilitated through what's known as a community land trust, which you can learn more about here.