The Invest Atlanta Board of Directors on Thursday will consider a measure to authorize $46.2 million in lease purchase revenue bonds for Bridges at Landrum, a 200-unit affordable housing project planned in Southwest Atlanta.
The owner and developer behind the apartment project, Louisville, Kentucky-based LDG Development, has plans for 170 units reserved for households at 60 percent of area median income or below and 30 market-rate units, according to an Invest Atlanta fact sheet for the bond measure.
The board’s authorization would provide an estimated incentive of about $2.1 million for the proposed development, the fact sheet shows.
Project plans call for nine apartment buildings at 2944 Landrum Drive SW, just west of the Crystal At Cascade apartment complex. The new development would feature eight three-story buildings and one two-story building, along with a roughly 4,600-square-foot clubhouse building, according to project plans on file with the city of Atlanta.
The unit mix would include 24 one-bedrooms, 80 two-bedrooms, and 96 three-bedrooms.
Residents would have access to an amenity package with a community room, fitness center, business center, and swimming pool.
The project architect is Louisville-based Studio A, while the design architect is Rickhaus Design, plans show.
LDG Development would work on a construction timeline of 18 months, according to the Invest Atlanta fact sheet.
