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Mayor Keisha Lance Bottoms announced today that Atlanta’s Economic Development Authority, Invest Atlanta, has released a Request for Proposal (RFP) for a workforce housing development on a City of Atlanta owned property just steps from City Hall. The RFP indicates that Invest Atlanta is seeking a development partner to construct mixed-use, mixed-income workforce housing project on the site that will be undoubtable be a flagship affordable housing property for the City.
According to Mayor Bottoms, the project is in direct response to the goals set in the City’s One Atlanta: Housing Affordability Action Plan. The plan, which promises to “create or preserve 20,000 affordable homes by 2026 and increase overall supply,” was passed under her leadership in 2019. She commented that “activating and redeveloping public land expands access to affordable housing for all who wish to call Atlanta home…to have this physical, tangible commitment to housing equity literally across the street from Atlanta City Hall should serve as a reminder that Atlanta is a city for everyone.”
In the RFP, Invest Atlanta stipulates that housing affordability is the primary objective of the project. The RFP requires that the development hold at least 40% of the units as affordable, including 20% of the units being restricted for residents not to exceed 60%
area median income (AMI). Additionally, no more than 85% of units of the total project can be affordable, meaning that a minimum of 15% of units would be market rate. The project would be constructed with a minimum of a 50-year ground lease from the City.
The RFP stipulates a number of other objectives for the project, including lifestyle affordability, mix of incomes and households, mixed-uses, sustainability, exceptional design, construction techniques and financial viability.
Currently, half of the property, which lies just south of City Hall, serves as a police parking lot, while the other half is vacant. According to property records a small, low-slung building valued at $2,270,900 was demolished on vacant half in 2006. The property is zoned SPI-1, or Downtown Special Public Interest District.
Interested parties should review the RFP and submit their proposal no later than n 5:00 p.m., Wednesday, October 13, 2021. Finalist will be notified by October 29th, and the project will be awarded by the Invest Atlanta Board on November 18th, 2021.