Affordable Workforce Housing, And What It Might Mean To You

Jon Real Estate Leave a Comment

“Despite the fact that the words “”affordable”” and “”workforce”” are both completely subjective and open to interpretation (especially consider today’s, um, economy), the Atlanta Development Authority is using both words in promoting their Eastside TAD (tax allocation district) Program. It hasn’t gotten nearly as much ink as the much talked about $8,000 new homebuyer’s credit, but for many, it will pack in even greater punch.

What’s the deal?

Several new(ish) condo developments are offering subsidized, for-sale condos well below market rate prices. For qualifying buyers, one and two bedroom units are offered at less than $155,000.

Who qualifies?

1. If you make less than $56,950 you may qualify.

2. The condominium purchased must be your principal residence.

3. You can’t own any other real estate prior to closing.

4. There’s plenty of additional fine print to consider. 

Which developments are participating in the program?

  • Oakland Park at 563 Memorial Drive
  • Renaissance Walk at 171 Auburn Avenue
  • The Reynolds at 565 Peachtree Street
  • Tribute Lofts at 480 John Wesley Dobbs Ave.
  • TWELVE Centennial Park at 400 W Peachtree Street

How can I find out more?

Check out the Atlanta Development Authority’s website, or just give me a call.

About the Author
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Jon

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Jon Effron is widely regarded as one of the leading Realtors in Atlanta, working with both buyers and sellers throughout the metro area to maximize their real estate investments. In 2014, Jon was the #1 individual agent at Keller Williams Intown, one of the largest brokerages in Intown Atlanta. Prior to becoming a Realtor, Jon was the Vice President of Development at Tujay Group, an Atlanta real estate development firm. His career pre-real estate included stints at ABCNews.com, eGroups (now Yahoo! Groups) and Elite Traveler magazine, where he served as the Vice President of Marketing.