July 4, 2019 / By WebSiteAdmin
The One Atlanta: Housing Affordability Action Plan outlines a bold vision to achieve Mayor Bottoms’ vision to provide a pathway to affordable and equitable housing opportunities for all who desire to call Atlanta home.
Atlanta’s population is increasing, but new housing construction has focused on higher-cost demand.
In 2017, Atlanta was the third fastest growing metropolitan region in the United States. As our population grows, many of our long-term residents are experiencing challenges related to affordable housing, particularly as much of the new residential development has focus on higher-cost units.
While our economy has grown over the last decade, wages have not kept pace with rising rents.
Between 2000 and 2017, Atlanta’s median rent increased by over 70%, but Atlanta’s median income only increased by 48%.
There is a growing gap between what people can afford versus what people are making.
As housing costs have grown, more Atlantans have been forced to spend a greater percentage of their income on housing costs. In 2016, more than half of Atlantans were considered housing-cost burdened.
Our plan will implement 13 initiatives and 45 actions to achieve four key goals:
Create or preserve 20,000 affordable homes by 2026 and increase overall supply:
- Leverage vacant public land for housing
- Create and expand housing affordability tools
- Revise the Zoning Code
Invest $1 billion from public, private, and philanthropic sources to produce and preserve affordable housing:
- Maximize existing funding sources
- Develop new funding sources
- Increase philanthropic and private investment in affordable housing
Ensure equitable growth for all Atlantans and minimize displacement:
- Prevent involuntary displacement
- Explore expansion of property tax programs for creation and preservation of affordable housing
- Expand awareness of and increase participation in housing affordability programs
Support innovation and streamline processes:
- Establish a Housing Innovation Lab
- Improve Building and Zoning Codes
- Improve our system for developing and delivering affordable housing
- Enhance community engagement