Affordable Housing Planned for Downtown Atlanta’s Capitol Hill Neighborhood
Atlanta continues to strive to solve its affordable housing crisis. Construction on a 218-unit affordable housing project in Downtown Atlanta is scheduled to begin in 2024 with a projected completion date of 2026. The project will be located at 104 Trinity Avenue, SW at the corner of Central Avenue, SW on a 1.34-acre tract of land directly across the street from Atlanta City Hall. The project, to be known as Trinity Central Flats, is a joint venture between Radiant Development Partners and Capitol Hill Neighborhood Development Corporation (CHNDC).
CHNDC is a community development corporation made up of the three churches near the Georgia State Capitol: Trinity United Methodist Church, Central Presbyterian Church and the Catholic Shrine of the Immaculate Conception. CHNDC was formed over 30 years ago to serve as a catalyst for redevelopment of the Capitol Hill neighborhood. Past projects include the City Plaza Apartments, Hope House, which is a supportive housing development, and the Atlanta City Hall parking deck.
Trinity Central Flats will be a 100% affordable property with 77 units at 50% AMI (Area Median Income) or below. 110 units will be at 60% AMI and 31 units will be at 80% AMI. According to the Department of Housing and Urban Development, the 2023 Area Median Income for Atlanta is $103,500. The property will also have about 7,500 square feet of retail space fronting Central Avenue.
The City of Atlanta, through its development authority, Invest Atlanta, will retain ownership of the land and lease the land on a long-term basis to the developer. As is the case with many affordable housing developments, the financing will be layered with a mix of public and private funding to include tax exempt bonds, funds from a Tax Allocation District (TAD) and state and federal Low Income Housing Tax Credits (LIHTC). As is typically the case, the tax credits will be sold to a third party with the proceeds of the sale providing equity for the project.
While many of the units will be marketed as workforce housing, at least 20 units will be supportive housing units for tenants who will not pay more than 30% of their income for rent. The concept of supportive housing is a strategy that provides affordable housing along with coordinated services such as treatment for substance abuse and mental and physical illnesses. The project’s unit mix is as follows:
48 studio apartments
112 one-bedroom apartments
50 two-bedroom apartments
8 three-bedroom apartments
The Trinity Central Flats project fulfills a 30-year CHNDC goal of bringing affordable housing to the Capitol Hill neighborhood. It will provide housing for those employees that work in Downtown Atlanta and cannot afford to live where they work. The project will also help those individuals battling homelessness find safe and affordable housing in a supportive environment.
Bill Adams, President of Adams Realtors, has been a board member of Capitol Hill Neighborhood Development Corporation since its inception, representing the Catholic Shrine of the Immaculate Conception. He currently serves as Board Chair.