A plot of prime real estate along the Beltline is on the market again, but this time any developer will need to focus on affordable housing for the site.
Atlanta BeltLine, Inc. is asking for proposals to buy and redevelop nearly 1.5 acres at 1016 Monroe Drive. The property is near the intersection of 10th Street and is close to both Piedmont Park and Ponce City Market.
The redevelopment project will need to be primarily residential, with 20–40 percent of the residential units designated as “affordable workforce,” according the RFP issued by ABI. Commercial use space is allowed in addition to the residential use.
ABI has recently sought to increase the number of affordable housing units along the Beltline, pledging to spend $11 million over the next three years.
ABI is seeking the proposals on behalf of Invest, Atlanta, the documents says.
Earlier this year, Fuqua Development LLC had planned a nearly 4-acre mixed-use project in the same area, according to Atlanta Business Chronicle. That project included plans for apartments, townhomes and hotel, as well as a grocery store and several restaurants.
To read the article, click here. It is not clear what happened with those development plans.
ABI is holding a pre-proposal meeting at their office at 2:00 p.m. on Wednesday, Nov. 16. A conference call option will be available for those unable to attend in person.
Proposals are due on December 13. For more information about the RFP or how to submit a proposal, click here.