Since it began in 2009, Atlanta Land Trust Collaborative (ALTC) has been working to create and maintain sustainable affordable communities across the city of Atlanta. As new communities continue to grow and develop along the Atlanta Beltline, ALTC has been in the forefront pushing for housing options for all residents who want to be a part of this dynamic growth.
To drive this effort, ALTC has established strong partnerships to help drive the CLT model. Alongside its partners, ALTC has achieved several noteworthy milestones.
Working with the City of Atlanta, ALTC has provided more than $4M in HOME Investment Partnerships Program (HOME) and Neighborhood Stabilization Program (NSP) funds in support of CLT development. In addition, 10% of Atlanta NSP housing units produced have been designated as CLT units.
Working with Wells Fargo Bank, ALTC has developed a specific mortgage product to simplify, streamline, and expedite the CLT process. This process is currently in use with local CLT partner, Pittsburgh Community Improvement Association (PCIA) to acquire more than 30 properties.
Putting the framework in place now, ALTC is moving CLT units forward in Atlanta. In addition to the current ALTC portfolio of 13 units, growth plans include another 4 homeowner-occupied CLT units currently for sale with a projected close date by or before September 2014, and planned construction of another six units for sale. Stay tuned for more updates as ALTC continues to build a future for permanent affordability in Atlanta.