Development agency Atlanta Beltline filed plans this month to get approval from the city of Atlanta to build 1,100 homes on 32 acres.
The agency also notified the state of its plans because the size and scope of the project meant it qualified as a development of regional impact under Georgia law.
At least 30% of the for sale and rental units would be considered affordable housing at the site, 425 Chappell Road, in the city's Bankhead-Westin Heights neighborhood, according to the filing from the Atlanta Beltline Inc. agency. Bankhead-Westin Heights, an affordable, walkable area, is one of the oldest neighborhoods in the city. About 5,000 square feet of commercial space is also planned.
The Atlanta Beltline, a former railroad corridor, is a 22-mile loop of trails, parks and future transit that connects 45 neighborhoods. The city of Atlanta is trying to boost development along the pathway.
To do that, Atlanta’s economic development agency known as Invest Atlanta created Atlanta Beltline Inc. in 2006 to be the redevelopment agent for the Atlanta Beltline Tax Allocation District and to manage funds generated in the district until 2030.
Affordability levels for the for-sale units will be 80% to 120% of the area's median income, while the levels for the rentals will be 50% to 80%, Atlanta Beltline spokesperson Keona Swindler said in an email. The agency also aims to set aside some rental units below 50% of the area's median income.
Atlanta Beltline said it acquired the site, its largest to date, for $25.6 million, 30% below appraised value, from Brock Built Homes about three years ago. The Beltline is looking to "create an intentional development plan that prioritizes affordable housing and commercial space and supports small businesses and connectivity," the agency said in a statement on its website.
It has developed a master plan for the Chappell Road site and the city’s adjacent 30-acre property. Swindler said the agency also worked to ensure plans included connectivity with Maddox Park, the Bankhead MARTA station, the Atlanta Beltline and the Proctor Creek Greenway.
The agency will seek the necessary approvals from a city zoning committee and the Atlanta City Council. It plans to send a request for proposals to potential development partners in the middle of next year for both the for-sale and rental units, Swindler said.
