The iconic Atlanta Constitution Building is set for a major transformation, with city officials approving the next phase of a project that will bring affordable housing, commercial space, and public amenities to the downtown area.

Mayor Andre Dickens recently announced that the Invest Atlanta Board of Directors approved phase two of the Folio House project at 143 Alabama Street. The development will convert the surrounding property next to the long-vacant five-story Art Moderne building into nearly 150 affordable multifamily housing units, parking, and ground-level commercial and public spaces. The project is expected to be completed by 2028, supported by $22,049,31 in tax-exempt bond financing.

"Now more than ever, we must continue to be resourceful and innovative in our approach to meeting the needs of the community, ensuring that every Atlanta resident has access to safe, affordable housing," Dickens said in a statement. 

Phase one of the project, which began in June, focused on stabilizing and restoring the building's exterior, daylighting the ground-floor commercial space for public use, and preparing for the 2026 FIFA World Cup. The renovation also includes 50 affordable housing units on the upper floors, with rents ranging from 30 to 80 percent of the area median income, and 5,575 square feet of commercial space. An adjacent outdoor area, "The Pitch," will host cultural and World Cup-related events next June. 

Built in 1947, the Constitution Building was once considered "the heart of Atlanta" but has sat vacant for the past 50 years. The Folio House project will reconnect the area to the nearby Centennial Yards Entertainment District, Five Points, and Underground Atlanta, near one of the city's busiest transit stations.

Affordable housing development approved

The Invest Atlanta Board also approved several other housing deals that could generate more than 2,500 additional affordable housing units citywide. Collectively, these initiatives are projected to bring more than $891 million in new investment to Atlanta through the construction and rehabilitation of affordable housing.

City Lights South at 404 Boulevard NE 30308

• Part of the master planned redevelopment of Bedford Pines, a cluster of multifamily buildings along the Boulevard corridor of the Old Fourth Ward neighborhood. $30,975,000 in tax-exempt bond financing will support the new construction of 159 affordable housing units on site.

Ashley Cascade at 1371 Kimberly Way SW 30331

• The property is a combination of a three-phase mixed-income, multifamily community in the Ashley Courts neighborhood that will continue the legacy of HOPE VI revitalization. $25,600,000 in tax-exempt bond financing will support the acquisition/rehabilitation of 384 affordable multifamily housing units.

Columbia Senior at Mechanicsville at 555 McDaniel St SW 30312

• This mixed-income community will continue to serve the senior population in Mechanicsville near Downtown. $8,500,000 in tax-exempt bond financing will support the acquisition/rehabilitation of 150 affordable multifamily housing units.

"Atlanta's continued economic growth depends on our ability to ensure that the people who power our city—our teachers, healthcare workers, small business owners, and service professionals—can afford to live here," said Dr. Eloisa Klementich, president and CEO of Invest Atlanta.

Since 2018, the city has maintained a real-time Affordable Housing Tracker online, providing a map and updates on multifamily housing developments and affordable units across Atlanta. The dashboard includes projects funded through local subsidies and inclusionary zoning ordinances, helping the public track the city's progress in meeting its housing goals. 

Check out the City of Atlanta Affordable Housing Tracker here.