FOR IMMEDIATE RELEASE:
(Atlanta, Georgia- Oct 25th, 2017)
Local development partnership announces first affordable housing concept marketed to Atlanta’s creatively inclined.
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Arts nonprofit The Creatives Project has joined forces with local developers Stryant Investments, LLC and Building Insights, Inc to help fill Atlanta’s housing affordability gap through innovative redesign and social impact programming at the former site of the George Adair School that caters to artists and creatives.
The first concept of its kind in the city of Atlanta, The Academy Lofts Adair Park, endeavors to become a symbol of neighborhood revitalization, historic preservation, and community engagement through the establishment of a live/work atmosphere to support creative and cultural enthusiasts from throughout the region. The Adair School was originally constructed in 1912 and is located at the heart of the Adair Park neighborhood, and only 1 block from the recently completed portion of the Atlanta Beltline trail. The property has been vacant since 1973 and has deteriorated significantly due to roof leaks over the last 10 years.
The plan for redevelopment includes 35 affordable micro-units for live/work space targeting creatives and artists, 5,000 sf of loft office tailored to small businesses and studio workspace, a revamped 3800 sf auditorium re-purposed for an art gallery & community event space, and a 1300 sf coffee shop.
Our vision for the site is a historic redevelopment focused on arts and community engagement where creatives, artists, and entrepreneurs will live, work, and interact both internally among each other, and externally within the Adair Park neighborhood, and the City of Atlanta at large. This building was constructed at the heart of a beautiful community, across from a gorgeous park, and has been a blight for a long time. We'd like to reactivate it so that the structure at the center of this neighborhood can actually become a neighborhood center. -Atticus LeBlanc Stryant Investments
The concept will provide affordable rental units that include creative amenities such as studio access, classrooms, and gallery space to foster creative growth and innovation. In addition, those living and working on site will offer classes, workshops, and seminars, and engage in collaborative and community-based projects.
With a lack of affordable housing options at an all time high, we are extremely excited to create “ART-FORCE” housing to support our city’s burgeoning arts community while enabling Atlanta to retain its creative talents. The Academy will serve as a backdrop for deep conversations about place and community enrichment via arts and culture initiatives while allowing residents time and space to develop new bodies of work, and opportunities for peer collaboration . -Neda Abghari Executive Director TCP
The developers closed on the purchase of the property in June of this year, and the property was rezoned for the concept in July. The redevelopment has already been awarded 1.5M in funding through Invest Atlanta's Housing Opportunity Bond Program to help maintain long term affordability, and will also leverage historic tax credits. The team has been in negotiations with several financial institutions, and looks forward to connecting with additional funding partners to complete the redevelopment by 1st quarter 2019.