Atlanta Developers seek tax breaks for workforce housing
The city of Atlanta’s development arm is expected to consider property tax breaks Thursday for two apartment communities that will include “workforce housing.”
The proposed property tax breaks are the carrot in a city strategy over the past few years to encourage developers of apartment towers to set aside 10 percent of units that are affordable for residents who make 80 percent of median income.
One project — Post Centennial Park — features a pet spa and rooftop pool and last year was awarded a $4.4 million public grant from Invest Atlanta. An Invest Atlanta meeting agenda says the agency’s board will consider an estimated $4.6 million property tax break that would come in exchange for committing 10 percent of the project’s 438 units to workforce housing.
Separately, the board will consider a nearly $2 million tax break for a 224-unit apartment development at the Edgewood-Candler Park MARTA station.