Cypress 595 is a 1500-unit preservation project across the Old Fourth Ward. The project, led by Wingate, has 77 “deeply affordable” units. Persons making less than 60% of the area median income can qualify, according to Atlanta Mayor Andre Dickens. Many will accept Section 8 vouchers, which are used to subsidize rent for lower-income residents.
Dickens emphasized the importance of affordable housing, noting 6,700 units built and 5,000 under construction. His goal is to build 20,000 new affordable housing units by 2030.
“I understand the importance of providing our families with a safe and affordable place to call home and a place to raise our families,” Dickens said. “But that’s exactly what Cypress 595, delivers right here, safe quality, affordable housing.”
The Tangibles and Deliverables of Affordable Housing
Affordable housing brings concerns about density, traffic and property values. Segura Jones, President of Atlanta Planning and Advisory Board, believes growth can occur when residents are at the center of the strategy.
“With a superior growth model, when families can stay true and rooted children thrive in stable schools,” said Jones. “Public transit becomes more accessible, and neighborhoods thrive and grow stronger together. As we celebrate today, let us recognize that showing how intentional, phased, community led, equity focused redevelopment can work in Atlanta. This model will be replicated across neighborhoods facing similar histories.”
One of the keys for the affordable housing model to deliver results in Atlanta is fostering continued community partnerships between developers, local government, nonprofits, and residents. This is needed to ensure ongoing support and investment in the community’s development. Also, prioritizing resident voices in future development plans, ensuring that the community remains central to decision-making processes.
“We knitted together a lot of community players and federal and state and local resources to get to this point,” said Mark Schuster, Principal of Wingate. “That’s really been our contribution. We’re proud of it, and we’re here for the long term. We do not develop and buy properties and flip them and whatever we are. We are here to stay.”
