Invest Atlanta today released a new housing strategy for the city – the first comprehensive strategy in more than eight years. According to a media release, Invest Atlanta partnered with HR&A Advisors and Enterprise Community Partners to analyze current demographic and housing data and reviewed best practices from other cities. Outreach to housing stakeholders and community engagement activities supported development of the strategy and ensured diverse voices were included. Goals of the strategy include:
· Growing the City of Atlanta’s population by 10 percent by 2020;
· Reducing the number of Atlanta residents who spend a more than 30 percent of their income on housing;
· Creating a broad mix of housing choices throughout the city to serve a diverse population and workforce;
· Reducing the number of vacant, blighted homes by 20 percent by 2020;
· And creating new financial resources, and improve existing ones, to help the city achieve its housing goals.
“The City of Atlanta attracts more businesses and residents every year, and we need a housing strategy to support this growth,” said Mayor Kasim Reed. “The strategy serves as a framework to ensure that current and prospective residents will have diverse and affordable housing options so that they can fully enjoy living, working and doing business in Atlanta. It will expand the supply and improve the quality of housing offered in our City.”
The strategy focuses on creating more livable and walkable neighborhoods for all Atlantans, including young families, seniors and students. Implementation of the policy will require funding and policy changes. Some of these include the creation of a Housing Trust Fund, revisions to current zoning requirements and development of an inclusionary housing policy that will create new affordable workforce housing units in conjunction with market rate residential and mixed-use developments.
“We wanted to ensure that this latest housing strategy would speak to the immediate challenges facing Atlanta,” said Dawn Luke, managing director of Housing Finance. “It offers a comprehensive and practical approach to addressing these issues and sets a high bar, but with all stakeholders working together it is well within our reach.”
To obtain a copy of the housing strategy, visit this link.