FULTON COUNTY, Ga. — Channel 2 Action News gets real about the affordable housing crisis and the impact on minority communities.
Local investor and real estate developer, Booker T. Washington, is on a mission to help people find housing solutions, especially in the South Metro. Channel 2’s Dave Huddleston says Washington is doing it with “micro houses.”
From napkin, to landing in South Fulton County – Washington and his team turned his dream into a reality with South Park Cottages in College Park.
Washington is from Atlanta and grew up in the community. He wondered how he could be a developer and entrepreneur in a different way.
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“Being a native of southwest Atlanta and growing up in this community, I had a little bit of a crisis of conscience,” Washington said. “I said, well, I want to continue being an investor and an entrepreneur, and yes, the goal is to make a profit, but can I do it in a different way?”
His development of micro homes is “a different way”. One and two bedroom micro homes are between 350 and 600 square feet. There are 29 units and all sold out within two months of launch priced between $200,000 and $230,000.
Alexia Gosier, 25, who works as a teacher, said she was shocked by the dramatic jump in average house prices but decided it was the best thing to do to switch from renting to buying.
“This was affordable to me and a price I could afford just on my teaching salary,” Gosier said.
With micro houses, owners can save on mortgage payments and utilities, and because they take up less space, they also pay lower property taxes.
Washington said such homes are a solid option for first-time buyers, people looking to downsize and people pushed out of their neighborhoods by gentrification.
“Home ownership, especially for minorities in Atlanta, has continued to decline. We have to be able to find some mechanism, especially for those fresh out of college, those who are downsizing, those who are empty, they need options,” Washington said.
Washington is also trying to provide more housing options for the south metro.
“South Park Cottages is the first black and minority micro community in the United States. We’re proud of that,” Washington said.
South Park Cottages is currently under construction.
Next is the union town. Washington said he was targeting the heart of Atlanta.
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