Atlanta BeltLine, Inc. (ABI) and the Atlanta BeltLine Partnership (ABP), with the support of the City of Atlanta and Invest Atlanta, have purchased a 31 acre site on the Westside earmarked for affordable housing.
The property, located at 425 Chappell Road, is in the Bankhead/Historic Westin Heights neighborhood near a planned segment of the Westside Trail and about a half-mile from the Bankhead MARTA station. It’s also adjacent to the Grove Park neighborhood, Westside Park, and the planned 90-acre Microsoft campus. Proctor Creek also runs through the property and there is potential to extend the Proctor Creek Trail to the site as well.
ABI said in a press release that the purchase of the property was designed to create “thoughtful development that spurs affordable housing, job creation, small business growth, and connectivity through land ownership.”
ABI said it will conduct extensive community engagement to incorporate the desires and vision of adjacent residents and local businesses, culminating in a Request for Proposals to invite developers to submit proposals to redevelop the site.
Brock Built Homes, and their affiliated companies, sold the property to ABI for $25.6 million, 30% below their last appraised value. The reduction in the sales price is a donation from the Brocks to further the goal of affordable housing, according to the press release.
ABI acknowledged that development pressure has already begun to impact long-term residents and businesses in vulnerable areas like the Chappell Road site. ABI and ABP have opened the Atlanta BeltLine Legacy Resident Retention Program to help mitigate displacement and support homeowners by covering the cost of increases in property taxes through 2030. Eligible residents in west and southwest Atlanta can get more information and apply now at www.beltline.org/retentionfund.
ABI has now assembled approximately 65 acres in various geographies around the BeltLine as part of a strategy to create long-term affordability and targeted job-creation. ABI’s holdings including Murphy Crossing (a 20+ acre site in southwest Atlanta), Avon Avenue (a 9.3+/- acre property in southwest Atlanta), Garson Road (a 3 acre property in south Buckhead), and Madison Reynoldstown (1+ acre in east Atlanta).