Any developers seeking to build apartments within the BeltLine Overlay District, which spans the entire length of the planned BeltLine path and extends a half-mile in each direction from the path, will now have to set aside 10 to 15 percent of units for affordable housing.
The Atlanta City Council has unanimously approved legislation that will require developers building new residential rental units near the BeltLine to either set aside 15 percent of rental units for people making 80 percent of the area median income, which is $39,050 for one person, or 10 percent of the units at 60 percent of AMI, which is $29,280.
Developers could also pay a fee instead of supplying the affordable housing units. The fees would be individually calculated for each development.
“Today’s inclusionary zoning policy ensures that people aren’t left out as new developments go up around the Beltline and Westside, but it’s important to note that there’s still lots more work to do in order to solve our all of our affordability problems,” Post 3 at-large Councilmember Andre Dickens said in a press release.
The policy received favorable support from every NPU, according to the release. This policy will now go into effect on all developments seeking a permit 60 days from now, the release said.