City of Atlanta issued the following announcement on Feb. 3.
Mayor Keisha Lance Bottoms announced the release of the first report on the City of Atlanta’s Inclusionary Zoning program. The Inclusionary Zoning program was created to create more affordable housing for low-and-moderate income residents in Atlanta. Inclusionary Zoning ties the production of market-rate housing to dedicated affordable housing, and in Atlanta, the IZ program requires that a percentage of new multifamily units developed in areas around the Beltline and Westside neighborhoods are rented at affordably.
“Inclusionary zoning is a key part of our larger strategy to increase access to affordable housing across the City,” said Mayor Bottoms. “It also is key to our vision of creating One Atlanta, a city that is affordable, resilient and equitable.”
The Inclusionary Zoning program is administered by the Department of City Planning and is aligned with the goals and action items of the Mayor’s One Atlanta Housing Affordability Action Plan which has set the goal of creating or preserving 20,000 affordable housing in the City by 2026.
The report assesses the impact of the first three years of the program. As of December 2020, there were 362 dedicated affordable units in some stage of development in compliance with the Inclusionary Zoning program. The report also shows that overall multifamily development in the Inclusionary Zoning area continued to grow, despite the new affordability requirements of the program.
The report also highlights the role that Inclusionary Zoning plays in creating affordable housing options in all new development near major public investments and in higher-cost areas of the city. “Inclusionary zoning ensures housing growth benefits all Atlantans and preserves the economic diversity we hold dear in our neighborhoods” said Tim Keane, Commissioner of the Department of City Planning.
The report can be found online here.
Original source can be found here.
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