Redo of 200 affordable dwellings in pipeline near downtown Atlanta Josh Green Tue, 11/07/2023 - 08:18 An affordable housing initiative that’s been in the pipeline for several years is gearing up to kick off soon in the shadow of downtown, Invest Atlanta reports.
The historic GA Factory building—aka GE Towers—in Mechanicsville is set for a complete renovation that will see 201 multifamily housing units rehabilitated at 490 Glen Street.
The apartments are located in a former General Electric plant between Glenn Street and Ralph David Abernathy Boulevard, just southwest of downtown. They’re also a half-mile, or roughly a 10-minute walk, from MARTA’s West End rail station.
As a partner in the initiative, MARTA officials have called the project an effort to preserve and extend the long-term viability of Mechanicsville's affordable housing stock.
The GE Towers location near downtown. Another landmark, Adair Park's The Met complex, is just southwest of the apartments. Google Maps
The Mechanicsville complex today. Invest Atlanta
According to Invest Atlanta, the project will be financed with a $27-million tax exempt loan that’s been approved by the Invest Atlanta Board and will also cover renovations to an adjacent building on the property.
The complex features apartments ranging from one to three bedrooms—and all of them will be rented at rates tenants earning 60 percent of the area median income or less can afford, Invest Atlanta reports.
MARTA, Morgan Stanley, and National Equity Fund launched the initiative in an effort to help keep affordable units in place near Atlanta transit stations.
The building that once housed a General Electric plant at 490 Glenn Street. Courtesy of MARTA
MARTA officials relayed in late 2021 that Lincoln Avenue Capital was planning to acquire the GE complex and rehabilitate the property with help from tax credits.
The company is known for mission-driven affordable housing development, and the GE Towers project will aim to extend the property’s affordable status in Southwest Atlanta, while continuing MARTA’s goal of boosting transit-oriented residential options.
No current residents are expected to be permanently displaced by the buildings' rehabilitation, MARTA officials said in 2021.
Overview of the complex and adjacent parking, next to MARTA rail, with Ralph David Abernathy Boulevard at bottom. Google Maps
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490 Glen Street GE Towers Affordable Housing Lincoln Avenue Capital West End MARTA Atlanta apartments Greater Atlanta Transit-Oriented Affordable Housing Preservation Fund The Met Adair Park Ralph David Abernathy Boulevard West End MARTA Station National Equity Fund Morgan Stanley Transit-Oriented Development Atlanta History History
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The GE Towers location near downtown. Another landmark, Adair Park's The Met complex, is just southwest of the apartments. Google Maps
Overview of the complex and adjacent parking, next to MARTA rail, with Ralph David Abernathy Boulevard at bottom. Google Maps
The building that once housed a General Electric plant at 490 Glenn Street. Courtesy of MARTA
The Mechanicsville complex today. Invest Atlanta
Subtitle Renovation of historic GE Factory complex to begin soon, Invest Atlanta reports
Neighborhood Mechanicsville
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