ANDP on its Way to Developing 2,000 Affordable Homes by 2025

Nearly half of Atlanta residents are housing cost-burdened, spending over 30% of their income on housing costs. In some neighborhoods on the south and west sides of the city, more than 70% of residents are housing cost-burdened. With a $3 million acquisition loan from Community Housing Capital, the Atlanta Neighborhood Development Partnership (ANDP) will purchase and rehab 20-25 single-family rental homes over the next two years. Fifty percent of the homes will be leased to households earning 80% of Area Median Income (AMI) or below, with the flexibility to rent the remainder to households earning up to 120% of AMI. Average rents are expected to be as low as $1,250 per month, well below 80% AMI rent maximums of $1,724.