Project Development

Preserving Affordability

Housing affordability is a significant challenge not only for the low-income and homeless citizens among us but also increasingly for those of moderate income. In the City of Atlanta in 2005, the average rent for a two-bedrooom apartment was $928 per month. In order to afford that, that head of household would have to earn more than three times the minimum hourly wage of $5.15. That puts housing affordability out of reach even for many of our firefighters, teachers, and police.

As one of the leading nonprofit housing developers in the Southeast, PRI is committed to preserving affordability and increasing housing opportunities so that all citizens can live with dignity. For more than a decade, we've been responsible for creating a wide variety of affordable housing developments, including:

• Multifamily rental apartments for families
• Single-room occupancy (SRO) apartments and transitional housing for formerly homeless adults
• Independent living housing for elderly adults
• Neighborhood revitalization and community redevelopment.

Over time, we have earned a reputation for our expertise in developing the "difficult" deals. Our development team has mastered the complex financing structures essential to creating affordable housing, and we've taken full-scale historic rehabilitation and new construction projects from concept to completion. Since our first project in 1989, we've partnered to develop 34 properties throughout Georgia and the Southeast, serving more than 7,000 households. And while we consider that a significant contribution, we recognize that it only begins to address an ever-growing need.