FULTON COUNTY, Ga. — Channel 2 Action News gets genuine about the very affordable housing crisis and the impact on minority communities.
A regional authentic estate developer and trader, Booker T. Washington, is on a mission to assist folks obtain housing options, specially in the south metro. Channel 2′s Dave Huddleston states Washington is undertaking it with “micro houses.”
From a napkin, to land in South Fulton County — Washington and his crew turned his desire into reality with the South Park Cottages in University Park.
Washington is from Atlanta and grew up in the local community. He requested himself how he could be a developer and entrepreneur in a different way.
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“Being a indigenous of Southwest Atlanta and expanding up in this local community, I experienced a bit of a disaster of conscience,” stated Washington. “I claimed, well I want to carry on to be a real estate developer and entrepreneur, and certainly the target is to make a revenue, but can I do it a various way?”
His advancement of the micro residences is the “different way.” The just one- and two-bed room micro homes are in between 350 and 600 sq. feet. There are 29 units and they all bought out in just two months of their start at a cost level in between $200,000 to $230,000.
Alexia Gosier, 25, who is effective as a trainer, said she was stunned by the remarkable jump in typical household price ranges, but decided it was the best thing to go from renting to getting.
“This was affordable to me and the cost level that I could pay for on just my teaching wage,” explained Gosier.
With micro residences, entrepreneurs can help you save on home finance loan payments and utilities, and considering the fact that they consider up considerably less place, they spend decrease residence taxes as very well.
Washington claimed these residences are a stable alternative for initially-time property prospective buyers, people on the lookout to downsize, and individuals pushed out of their neighborhoods by gentrification.
“Homeownership, in specific for minorities in Atlanta, has continued to drop. We have to be equipped to come across some mechanism, in particular for those who are contemporary out of university, these who are downsizing, all those who are empty-nesters, they want solutions,” mentioned Washington.
Washington is also striving to provide extra housing options for the south metro.
“South Park Cottages is the first black and minority-built micro neighborhood in the United States. We’re very pleased of that,” claimed Washington.
The South Park Cottages are at this time beneath construction.
Next up is a local community union town. Washington reported he has his sights established on the heart of Atlanta.
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