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By Sean Keenan
A few months after City of Atlanta officials approved legislation aimed at protecting affordable housing in Mechanicsville, Fulton County leaders green-lit plans to rehab the City Views at Rosa Burney Park residences.
Now part of what’s called an “Urban Enterprise Zone” (UEZ) — an area where real estate developers can earn tax breaks in exchange for investment — the property comprises 181 affordable residences a few blocks southwest of where Interstate 20 crosses the Downtown Connector.
Select Fulton, the county’s economic development arm, approved the acquisition-preservation project last week, according to the Atlanta Daily World.
The plan calls for Columbia Residential and Jonathan Rose Companies to spend nearly $50 million to purchase and primp the residential complex, which features a 112-unit apartment block and 69 townhomes, per the publication.
After the update, which is expected to take up to 18 months, the units will come back online priced for households earning no more than 60 percent of the area median income, Atlanta City Councilwoman Cleta Winslow, who pitched the initial legislation for the UEZ, previously told SaportaReport.
The renovation project is also slated to create new communal space, including a fitness center, community kitchen and lounge.
Development officials did not respond to requests for more details and renderings of the vision for the revitalized property.