111 Moreland: 42 Deeply Affordable Apartments Open

A new affordable housing community has opened in Atlanta's Reynoldstown neighborhood, adding 42 apartments for individuals and families earning 30% or less of the Area Median Income (AMI).

111 Moreland, located along Moreland Avenue, was developed by Stryant Investments with financing support from several partners, including a $750,000 Affordable Housing Program grant from the Federal Home Loan Bank of Atlanta.

Why 30% AMI Matters

We talk about affordable housing frequently, but not every affordable development serves households at the same income level.

Many of the developments we've covered are intended for households earning 50%, 60% or even 80% of the area's median income.

111 Moreland is different. All 42 apartments are intended for households at or below 30% AMI.

That reaches people with considerably lower incomes, including households that may struggle to qualify for other income-restricted developments even though those properties are considered affordable.

A Smaller Development With Deeper Affordability

Forty-two apartments won't make a large dent in Atlanta's housing shortage on their own. But the income level these apartments serve makes the development worth paying attention to.

Building affordable housing isn't only about how many units are created. It also matters who can afford to live in them.

111 Moreland adds housing specifically for individuals and families at the lower end of Atlanta's income spectrum.