The Atlanta Development Authority’s housing finance division last week closed on the sale of $9.35 million of multifamily housing revenue bonds to finance the Amal Heights Townhomes project.

The project entails acquiring an existing property and rehabilitation of 192 three-bedroom units, 85% of which are designed as affordable units. The deal is the first tax-exempt bond financing that ADA has funded since 2007 when the credit markets began to weaken.

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