Atlanta Housing is spearheading a $43.6-million development in the Atlanta community of Reynoldstown that will be 100% affordable. The Madison Reynoldstown will house working families earning up to 80 percent of the area median income, and Atlanta Housing will provide long-term subsidies to 46 families.

Atlanta Housing will invest $8.87 million for construction, permanent and acquisition funding. Additional private and public financing sources include a $3.6-million loan from Bank of America, a $4.4-million award from the National Housing Trust Fund, low-income tax credits from the Georgia Department of Community Affairs, a $21.5-million tax-exempt bond commitment from Invest Atlanta, and a $2-million grant from the BeltLine Affordable Housing Trust Fund.

The development sits on a 1.2-acre site on Memorial Drive. Madison Reynoldstown will include 71 one-bedroom, one-bath units; 36 two-bedroom, two-bath units and nine three-bedroom, two-bath units in two midrise elevator buildings. The development will also include 2,700 square feet of commercial or retail space.