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Highlighted Program Deliverables
HIGHLIGHTED PROGRAM DELIVERABLES Program 1: Joint Venture Development Before Demolition*
• In October 2023, the MALB entered into its first Joint Venture Development project. • The MALB executed an agreement with North Eugenia Revitalization, LLC (NER) for the redevelopment of 873 N. Eugenia NW, Atlanta, GA 30318 in the Grove Park neighborhood.
•
Property was demolished by the City of Atlanta.
• The MALB obtained an 18.75% interest in project via parcel donations from the U.S. Attorney’s Office. • Project will produce 10 townhome housing units. Two will be designated as affordable units (60-120% AMI).
- All units built at cost by NER.
- No financial contribution from the MALB.
Post Demolition
- No developer fee to NER.
• Target completion date of October 2, 2026 .
*Property was demolished by the City of Atlanta prior
to the MALB’s receipt of 18.75% interest.
Metro Atlanta Land Bank // Annual Report 2023
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