Develop Fulton Board Unanimously Approves Bond Resolution for Landmark Mixed-Use Redevelopment in Southwest Atlanta

ATLANTA, April 23, 2025 /PRNewswire/ -- A bond resolution essential to advancing a mixed-used development slated to usher in affordable housing in southwest Atlanta was unanimously approved by the Develop Fulton Board of Directors on April 22, 2025. The transformative development, located on Woodrow Street SW in Atlanta, reflects a $76.76 million project led by 840 Woodrow Apartments Owner, LLC (induced as Woodfield Acquisitions, LLC), that will bring 326 new mixed-income residential units, affordable commercial space, and a host of community-focused investments to the area.

The approval of the bond resolution will help propel vital investment in a rapidly evolving neighborhood and deliver a landmark commitment to affordability and inclusion. According to project details, the development will exceed the City of Atlanta's Inclusionary Zoning requirements and designate 20% of all units as affordable with 5% of those designated units being reserved for individuals using tenant-based vouchers.

The project, known as 840 Woodrow, not only expands the city's workforce housing options but, when completed, will also reflect Atlanta's thriving creative landscape with planned public art programming. Additional plans include outfitting repurposed shipping containers to serve as designated storefronts to support area startups and local entrepreneurs. 

"This project represents the best of what we strive for in creating workforce opportunities, needed affordable housing options and landmark community revitalization," said Develop Fulton Chairman Kwanza Hall. "840 Woodrow will serve as a cornerstone of equitable development in South Atlanta, catalyzing growth and supporting families, small businesses, and local artists alike."

According to Develop Fulton projections, the multi-use property will significantly increase local tax revenue, with first-year property tax contributions expected to exceed $640,000—marking a significant increase from $15,896.12 in 2024.

"What's so exciting about this project is how many of the ideas and community benefits emerged from meaningful collaboration and dialogue with the people who live and work here," said Develop Fulton Executive Director Sarah-Elizabeth Langford. "This effort demonstrates the power of public-private partnerships to drive both growth and equity."

Key highlights of the 840 Woodrow project include:

• 66 affordable/workforce housing units with rent limits based on 80% of AMI
• Subsidized commercial space, including shipping container storefronts for startups and small businesses
• Adaptive reuse of an existing building into a headquarters and training facility for a local coffee roaster committed to local hiring
• $1.5 million brownfield remediation to ready the site for redevelopment
• Public art programming and significant sidewalk and streetscape upgrades
• More than 500 construction jobs and 40+ permanent jobs created

About Develop Fulton
Develop Fulton serves as the development authority of Fulton County, driving inclusive economic growth through strategic investment, job creation, and community revitalization. The authority works to advance bold, future-focused initiatives that strengthen neighborhoods and position Fulton County as a national destination for innovation and opportunity.

CONTACT: Erik Burton
770-294-8475
[email protected] 

SOURCE Develop Fulton