A new development being built in the Bankhead neighborhood of Atlanta is sparking gentrification concerns.
Construction on an upscale 61-townhome community called The Ten29 West — priced at about $500,000 per unit — is currently underway. But, the median household income of the community is only about $37,000, 11Alive reports. According to the outlet, real estate companies show the median home price in Atlanta’s metro area is $390,000.
This raises concerns that current inhabitants will be priced out of the area. Members of the community are also alarmed with the development rate in the area and concerned about the future of affordable housing.
Atlanta’s District 3 city council member Antonio Brown said more accountability is needed to preserve and protect existing neighborhoods against gentrification.
“We have to make sure we’re holding developers accountable for being inclusive, especially when coming into low-income Black and Brown communities,” he said.
According to Atlanta city council member Andre Dickens, policies need to be enacted as new construction and developments go up to continue protecting those already living in the community.
“We need to be able to have an eye to look for opportunities to have new development without displacement. That’s the project that we all should be on. That’s the goal that we should be fighting for,” said Dickens.
Developer Brock Built Homes is building the development close to where Microsoft is building its new 90-acre business campus.
