Following the first community meeting for the Underground Atlanta redevelopment, a drawing has been revealed showing what would likely be the first project to start construction in the area.
Drawings for “The Avery,” a 180-unit apartment building tailored to low-income residents, were revealed in a filing with Invest Atlanta. Developer Prestwick Development Company is requesting $3.6 million—10 percent of the expected building cost—to support the project.
Slated to rise on Upper Alabama Street, between Pryor Street and Central Avenue, the building would replace a narrow one-story structure that has long stood vacant. While the rendering shows a six- or seven-story building, paperwork lists it as a four-story structure.
According to the filing, the building would provide 150 units to serve households earning 60 percent or less of the area median income, with the remaining units dedicated to market-rate units, with an emphasis on workforce housing.
Half of the building units would be two-bedrooms, with the remaining split between one- and three-bedroom options. Units would be smaller than many new buildings in the city, with average sizes ranging from 667 square feet to just 960 square feet for the three-bedroom options.
Ten of each unit type would be reserved as market-rate, commanding between $1,000 and $1,200 a month. The workforce housing would range from $700 to $960 per month. And the workforce-housing aspect would be guaranteed for 15 years.
If funding is approved, work could begin in a year, with residents moving in by December 2019, officials say.
- The Avery at Underground Atlanta Eastside TAD Ascension Fund Fact Sheet [Invest Atlanta]
- Underground Atlanta Coverage [Curbed Atlanta]