Atlanta BeltLine Inc. has announced it has sold two acres of land on the Eastside Trail at 670 DeKalb Avenue to a developer for a mixed-use project that will include affordable workforce housing.
The developer is North American Properties. The purchase price was not disclosed, but Atlanta Loop has requested this information.
“Plans for the $80 million walkable development call for a mix of residential, loft office, restaurant, and retail,” ABI said in a press release. “Twenty percent of the housing units built on the land controlled by ABI will be allocated towards affordable workforce housing.”
The site was previously used as an industrial laundry facility. ABI purchased the site two years ago and began cleaning up the environmental contamination. The cleanup work continues. During construction and cleanup, part of the Eastside Trail between Edgewood Avenue and DeKalb Avenue will be rerouted around the construction area, ABI’s press release says.
“The site represents a location on the Atlanta BeltLine where the former railroad lines that comprise the future 22-mile Atlanta BeltLine loop did not historically connect,” ABI’s press release says. “The formerly separated neighborhoods of Old Fourth Ward and Inman Park will be reunited with the build out of the Eastside Trail and through new development.”
ABI President and CEO Paul Morriss said the project will “bring a key segment of the Eastside Trail to life.”
Here is the full press release from ABI:
Atlanta BeltLine, Inc., North American Properties, and The Conservation Fund Partner to Revitalize Historic Decatur Belt Railway Site with $80 Million in New Development that Includes Affordable Workforce Housing
The walkable development calls for a mix of residential, loft office, restaurant, and retail plus affordable housing
On March 7, 2017, Atlanta BeltLine, Inc. (ABI) and North American Properties (NAP) completed a sale of nearly two acres on the Eastside Trail at 670 DeKalb Avenue. ABI, with assistance from The Conservation Fund (the Fund) and the Atlanta BeltLine Partnership, purchased the land adjacent to the railroad corridor two years ago in the interest of protecting the alignment of the Atlanta BeltLine, remediating a brownfield site, and constructing a mixed-use development with affordable workforce housing.
Plans for the $80 million walkable development call for a mix of residential, loft office, restaurant, and retail. Twenty percent of the housing units built on the land controlled by ABI will be allocated towards affordable workforce housing.
Formerly owned by Aramark, the site was most recently used as an industrial laundry facility. Once purchased by ABI, brownfield remediation work began on the site – one of the few remaining blighted brownfield properties on the historic Decatur Belt Railway. The site represents a location on the Atlanta BeltLine where the former railroad lines that comprise the future 22-mile Atlanta BeltLine loop did not historically connect. The formerly separated neighborhoods of Old Fourth Ward and Inman Park will be reunited with the build out of the Eastside Trail and through new development.
“We are thankful to our partners and neighbors for helping us make this extraordinary public private partnership possible,” said Paul Morris, President and CEO of Atlanta BeltLine, Inc. “Through it we are able to bring a key segment of the Eastside Trail to life by uniting two historically divided railroads, restoring and rehabilitating a contaminated industrial site, and realizing the promise of enhanced mobility, new jobs, recreation, and enhanced affordability for all.”
“This project will transform an environmentally contaminated site along the Atlanta BeltLine into a vibrant mixed-use gathering place that will enhance the trail’s safety and street level energy,” said Richard Munger, Partner at NAP. “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. We thank the community for its support and patience as we work with ABI to remediate the Brownfield site.”
During NAP’s construction and ABI’s completion of brownfield remediation work, the portion of the Eastside Trail between Edgewood Avenue and DeKalb Avenue will be rerouted around the construction zone. Ultimately, this will lead to a safer pedestrian experience for trail users and, in the interim, is approximately the same travel distance to detour around the construction site. When the Eastside Trail Extension opens in the summer of 2017, trail users will be directed up to the Edgewood Avenue bridge and Krog Street.
As part of the rezoning process, NAP met with adjacent property owners, NPU’s M and N, and the Inman Park Neighborhood Association. NAP worked closely with these neighbors and organizations to carefully curate a unique neighborhood and guest experience. A complete list of public meetings may be viewed here.
This project would not have been possible without ABI’s partnership with The Conservation Fund. The Fund loaned ABI nearly $2.5 million to purchase the property in 2015. ABI and the Fund continue to look at similar partnership opportunities throughout the Atlanta BeltLine corridor.