Atlanta Housing, the City of Atlanta and other civic and municipal parties broke ground this week on the redevelopment of of Herndon Square.
Herndon Square sits on 12.3 acres of what used to be the Herndon Homes projects, located at Cameron Madison Alexander Boulevard and Northside Drive.
Herndon Square: New Mixed-Use Development In Works In Atlanta
The development will feature an array of designs and building types, bedroom sizes for single professionals, families and seniors.
The project will be comprised of five phases of high-quality, mixed-income and mixed-use housing, according to city officials. Here are the plans for phases 1-5:
- Phase 1 will include 97 affordable units for seniors earning up to 60% of the area median income (AMI). Construction of the midrise building will be completed in Spring 2021 with an anticipated budget of $24 million.
- Phases 1 through 4 will include Land Use Restrictive Covenants, securing affordability on the site for a minimum of 30 years.
- Phase 5 will include plans for approximately 681 rental units and 32 for-sale townhomes, with 45% of the units projected to be affordable for households earning up to 80% of AMI.
“Atlanta Housing is delighted to begin a new decade with the groundbreaking and development of Herndon Square,” says Eugene Jones Jr., president and CEO of Atlanta Housing. “This development will add hundreds of new affordable housing units to the city of Atlanta and provide a catalyst for retail and neighborhood redevelopment on the west side.”
2020 is off to a great start! We have officially broken ground on Herndon Square, a new mixed-used development on the Westside. Learn more here: https://t.co/cMxhNrN6W3 #OneAtlanta pic.twitter.com/7TLzwou0Ob
— City of Atlanta, GA (@CityofAtlanta) January 7, 2020
Who Will Live In Herndon Square?
Qualifying homebuyers earning less than 80% AMI will receive AH’s down payment assistance up to $20,000. The development, expected to be completed in 2027, also includes greenspace, approximately 36,500 square feet of retail and health and wellness space.
“Atlanta Housing would like to thank Mayor Keisha Lance Bottoms, Invest Atlanta, the Westside Future Fund, HUD and the Georgia Department of Community Affairs for making housing affordability a priority and this project a reality,” says Dr. Christopher Edwards, chairman of the AH Board of Commissioners. “Working together, we’re confident we can continue our mission and help meet the mayor’s goal of $1 billion in affordable housing.”
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here.
