NEWS BRIEF: Atlanta Mayor announces acquisition of 2 Peachtree Street building for affordable housing

A building conversion in downtown Atlanta is expected to create several hundred new affordable housing units, Mayor Andre Dickens announced Thursday. The Invest Atlanta Board has approved $39 million of funding to acquire 2 Peachtree Street from the State of Georgia in order to convert the 41-story office tower into a mixed-income, mixed-use site.

Dickens said the purchase “provides us with a unique opportunity to address both our need for mixed-income housing at MARTA stations and move us closer to our vision of a world-class downtown area.” Built in 1968, the building is adjacent to the Five Points station.

The Invest Atlanta Board also approved bond financing for affordable housing for the Boulevard North and Villages at Carver developments. The mayor’s office said this will create 308 housing units, 242 of which will be available at 60 percent of the area median income or less. Details: atlantaga.gov