Balancing Affordability, Preservation, And Gentrification In Atlanta
"Briarcliff Summit's owners are looking to sell the nine-story, 200-unit apartment building, and real estate experts speculate that the market is ripe for it to be converted into something more in tune with the gentrifying neighborhood (think trendy loft apartments). In the meantime, two big questions remain: Will the building regain its prominence on Ponce? And if it does, what will happen to the longtime, elderly residents who call it home?"
Despite problems, "the U.S. Department of Housing and Urban Development, which administers the vouchers used by Briarcliff Summit's residents, gave the building a 'satisfactory' grade in its most recent inspection report, which a HUD spokesperson says is consistent with what the building has earned in the past.
Residents claim that, because the building's owners are guaranteed income from federal vouchers, they do little to maintain the building. What's more, most residents have incomes of only a few hundred dollars a month and cannot afford to move."