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FOR IMMEDIATE RELEASE

October 17, 2018

Media contact: Sophie Gibson

Phone: 404-784-4688

Historic District Development Corporation (HDDC) Celebrates Its 39-Year Track Record In Equitable Development With New Leadershipand Renewed Focus On Non-Displacement In Old Fourth Ward

ATLANTA, GA – For almost four decades, the Historic District Development Corporation (HDDC), has set the standard for strengthening, revitalizing and preserving the identity and history of Atlanta communities through equitable and inclusive development. HDDC is renewing its commitment to preserving cultural integrity and maintaining affordability – ensuring that all residents have the opportunity to benefit from the economic growth in the Old Fourth Ward.

“There is no other community development corporation in Atlanta that has stood the test of time, remained dedicated to providing affordable housing, and pioneered innovative strategiesto avoid displacement when revitalizing and redeveloping Atlanta’s historic neighborhoods.” said Chenee Joseph, HDDC’s Executive Director.

What is HDDC?

The Historic District Development Corporation (HDDC) is Atlanta’s oldest surviving community development corporation. It has spearheaded nearly four decades of pioneering urban revitalization work in the Old Fourth Ward.“HDDC is proud to serve as the bridge between Sweet Auburn’s storied past and the Old Fourth Ward’s bright future,” said Mtamanika Youngblood, HDDC’s board chair. HDDC draws on the legacy of equity that was nurtured in the Sweet Auburn corridor during the civil rights movement. HDDC continues to be aleader in equitable development and revitalization in Atlanta. Originally founded to protect the residential assets surrounding Dr. Martin Luther King, Jr.’s birth site on Auburn Avenue, HDDC has demonstrated a concrete track record of success and is one of Atlanta’s only non-profit organization specifically dedicated to preserving the availability of affordable housing.

HDDC revitalizes and redevelops without displacement

HDDC’s goal is to revitalize without displacementin Atlanta’s historic neighborhoods, setting it apart from for-profit developers.

Over its tenure, HDDC has:

  • Constructed and preserved more than 120 single-family homes
  • Developed almost 500 units of multi-family housing
  • Added more than 40,000 square feet of commercial space in the Old Fourth Ward
  • Spearheaded efforts to protect the historic Atlanta Daily World building and other historic sites from demolition

Real Estate Development – Projects on the Horizon:

  • AirlineO4W, 29-unit condo building
  • Herndon Plaza, historic preservation through adaptive reuse project
  • Henderson Place, 58 units of affordable housing in the heart of the city
  • Development of a Community Land Trust, creating a pipeline for home-ownership and affordable housing stockin perpetuity

HDDC’s housing programs have dramatically improved housing conditions in the Old Fourth Ward by increasing the supply of decent, safe, affordable housing; expanding safe areas of the neighborhood; and fostering economic stability by supporting home ownership.

Now more than ever, HDDC’s efforts are critical. Securing affordable housing is becoming more difficult across the city.The City of Atlanta’s Office of Resilience notes that one in four Atlanta households spend more than 50 percent of their income on housing costs, with much of this located in low-income, low-access neighborhoods across the city. While the development on Atlanta’s Eastside is reinvigorating neighborhoods, connecting communities, and spurring economic development the likes of which the city has never before seen, that growth has come with an unintended consequence: lower and middle-class residents can no longer afford to live in the city’s BeltLine-connected neighborhoods. Legacy residents in affected neighborhoods, particularly in the Old Fourth Ward,are being displaced as property taxes and rental rates explode. HDDC has, since its founding, focused on facilitating renewal and improvement of the community without pricing lower-income residents out of its target neighborhood. HDDC stands ready to ensure that Atlanta residents at all income levels can afford to live in the Old Fourth Ward, maintaining the neighborhood’s history of economic and racial diversity.

As HDDC approaches 40 years of service in the Atlanta community, itwill hold an Open House. On October 19, 2018, HDDC invites the community tocelebrate its successes and renewed focus on equitable development in the Sweet Auburn corridor.

For more information, visit HDDC at www.hddc.org

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