An affordable housing initiative that’s been in the pipeline for several years is gearing up to kick off soon in the shadow of downtown, Invest Atlanta reports.

The historic GA Factory building—aka GE Towers—in Mechanicsville is set for a complete renovation that will see 201 multifamily housing units rehabilitated at 490 Glen Street.

The apartments are located in a former General Electric plant between Glenn Street and Ralph David Abernathy Boulevard, just southwest of downtown. They’re also a half-mile, or roughly a 10-minute walk, from MARTA’s West End rail station.

As a partner in the initiative, MARTA officials have called the project an effort to preserve and extend the long-term viability of Mechanicsville's affordable housing stock.

The GE Towers location near downtown. Another landmark, Adair Park's The Met complex, is just southwest of the apartments. Google Maps

The Mechanicsville complex today. Invest Atlanta

According to Invest Atlanta, the project will be financed with a $27-million tax exempt loan that’s been approved by the Invest Atlanta Board and will also cover renovations to an adjacent building on the property.

The complex features apartments ranging from one to three bedrooms—and all of them will be rented at rates tenants earning 60 percent of the area median income or less can afford, Invest Atlanta reports.

MARTA, Morgan Stanley, and National Equity Fund launched the initiative in an effort to help keep affordable units in place near Atlanta transit stations.

The building that once housed a General Electric plant at 490 Glenn Street. Courtesy of MARTA

MARTA officials relayed in late 2021 that Lincoln Avenue Capital was planning to acquire the GE complex and rehabilitate the property with help from tax credits.

The company is known for mission-driven affordable housing development, and the GE Towers project will aim to extend the property’s affordable status in Southwest Atlanta, while continuing MARTA’s goal of boosting transit-oriented residential options.

No current residents are expected to be permanently displaced by the buildings' rehabilitation, MARTA officials said in 2021.

Overview of the complex and adjacent parking, next to MARTA rail, with Ralph David Abernathy Boulevard at bottom. Google Maps

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