Despite Atlanta and the metro area being rated #1 in the nation for Black homeownership by Polygon Research, a wide gap remains between the number of Black and White homeowners. Atlanta real estate developer Booker T. Washington believes both systemic and economic barriers keep buying a home out of reach for many in the Black community. These issues include gentrification and a debt-to-income ratio that make it difficult to save money for a property.
But Washington said he wants to meet people where they’re at financially, to make homeownership an accessible reality for more Black residents. He has teamed up with his friend, rapper Killer Mike, to bring affordable micro-homes to Atlanta — the city they both call home. So far, they’ve produced $60 million worth of real estate developments. Washington said the average age of a person seeking a micro-home is 41, with an average income of $85,000. This tells him the need for affordable housing spans across every stage of life…