The Atlanta Land Trust (ALT) has announced in a press release that it has received $895,000 over two years to purchase land for up to 50 permanently affordable housing units in the City of Atlanta. The support comes from The Kendeda Fund, a foundation that works to advance equity throughout Atlanta’s housing, transportation, and educational systems.
Though the exact location of these new houses have yet to be determined, the future housing will be part of the 20,000 affordable housing units to be built or preserved by 2026, called for by Mayor Keisha Lance Bottoms’ Housing Affordability Action Plan.
“We are grateful for the continued support of The Kendeda Fund, who understands that zip code is a key determinant of a family’s health, educational outcomes, and economic well-being,” Executive Director of ALT Amanda Rhein said in the release. “These funds will help us create more affordable homes in communities with access to opportunity.”
ALT is a nonprofit organization that uses the community land trust model, in which the organization develops and manages affordable housing for a community. They have worked to grow permanently affordable housing along the Beltline from 60 units to around 150 in the past year. Kendeda’s support will allow them to continue growing.
“Racial equity is at the forefront of how The Kendeda Fund invests in community-controlled solutions, which is why we are so proud to partner with the Atlanta Land Trust,” Tene Traylor, a fund advisor for Kendeda’s Atlanta work, said in the release. “We see this project as a key contributor to housing stability for Atlanta’s black and brown neighborhoods that must remain vibrant cultural centers.”
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Kendeda Fund does great stuff!
It was founded by Arthur Blank’s first wife.