“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.
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?