Three organizations have partnered to create an $80 million mixed-use development that includes affordable housing on the Atlanta Beltline near Krog Street Market.
Atlanta BeltLine Inc. and North American Properties completed the sale of nearly two acres on the Eastside Trail March 7, according to a Monday news release. ABI purchased the land in 2015 with a nearly $2.5 million loan from The Conservation Fund.
ABI bought the land two years ago in order to protect the Beltline’s “alignment,” construct a mixed-use development with “affordable workforce housing” and fix up a contaminated site. (It was formerly owned by Aramark, most recently used as an industrial laundry facility.)
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Twenty percent of the residential units built on the land controlled by ABI are to be allocated towards affordable housing, the release said.
Affordability along the Beltline has become an issue as its popularity has pushed housing prices up. Ryan Gravel, the man whose joint master thesis was the original vision for the Beltline, resigned from the non-profit Atlanta BeltLine Partnership over concerns about affordability and equity along the trail in September.
Paul Morris, ABI president and CEO, said the promise for “enhanced mobility, new jobs, recreation and enhanced affordability for all” will be realized through this partnership.
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Richard Munger, NAP partner, said the project will "enhance the trail's safety and street level energy.”
“As with all our projects, we engaged and collaborated closely with the local community to deliver a quality mixed-use experience for all to enjoy,” Munger said.
In addition to 350 total housing units, plans for the nearly two-acre property at 670 DeKalb Ave. call for 27,000-square-feet of restaurant, retail and loft office space.
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