The MARTA Board of Directors has approved a resolution authorizing the agency to enter into negotiations with the Peebles Corporation for a transit-oriented development (TOD) at Bankhead Station.
The Bankhead TOD is located on just under five-and-a-half acres at 1335 Donald Lee Hollowell Parkway. The rail station is adjacent to Microsoft’s future 90-acre campus and a half-mile southeast of Westside Reservoir Park.
The development plan would include 495 multi-family housing units, with 148 of them designated as affordable at 80 to 120% of the area median income by zip code.
The concept also includes office and workshare space, retail and a hotel, along with over an acre of open space.
To further support the type of mixed-use density that defines successful TODs, MARTA, with support from Atlanta City Councilmember Dustin Hillis, had the station rezoned to Mixed Residential Commercial District 3 (MRC-3).
“Bankhead Station is in a part of Atlanta that is undergoing significant growth and land use changes. Our rezoning efforts with the City and the station’s location within a Federal Opportunity Zone make this TOD an incredible opportunity to provide affordable housing and other community amenities convenient to transit,” said MARTA Interim General Manager and CEO Collie Greenwood.
The Bankhead Station transformation project is part of MARTA 2040, a decades-long several billion-dollar transit improvement and expansion program. Last year the Georgia General Assembly approved a $6-million appropriation toward the transformation of Bankhead Station, in support of the economic development taking place in surrounding areas.