**Atlanta Greenlights $76M Bond for Affordable Housing Development**
The Develop Fulton Board of Directors has approved a $76.76 million bond resolution to support a new mixed-use development in southwest Atlanta focused on affordable housing. The project, led by Woodfield Acquisitions and located on Woodrow Street SW, will deliver 326 new mixed-income residential units along with commercial space.
As part of the housing plan, 20% of the units will be designated as affordable, with 5% of those set aside for individuals utilizing tenant-based vouchers.
Named **840 Woodrow**, the development will feature innovative design elements, including the use of repurposed shipping containers transformed into storefronts. These will provide subsidized commercial space for local entrepreneurs and startups, fostering small business growth in the community.
Key highlights of the 840 Woodrow project include:
– Creation of over 500 construction jobs and more than 40 permanent positions.
– Development of 66 affordable/workforce housing units with rent limits based on 80% of the area median income (AMI).
– Support for economic development through accessible commercial spaces for emerging local businesses.
The project represents a model of effective public-private partnership, aimed at driving both economic growth and community equity in southwest Atlanta.
