Atlanta BeltLine, Inc. has purchased a 6.3-acre site at 350 Chappell Road, NW, in the city’s Grove Park and Historic Westin Heights neighborhoods.
In cooperation with Atlanta nonprofit City of Refuge, which serves communities in need on the city’s Westside, this collaboration will lead to the development of affordable multifamily homes near the future Westside Trail – Segment 4 and near the BeltLine’s largest planned site in support of affordable housing, the 31+ acre site at 425 Chappell Road, NW.
The $4 million transaction reflects another step in the BeltLine’s creation of long-term affordable housing and commercial options around the corridor. To date, the BeltLine has invested $43 million in more than 72 acres across six sites.
With housing affordability in the Atlanta area at the lowest rate in over a decade, projects like these are aimed at making homeownership more realistic for Atlantans. Additionally, walkability has become a higher priority for homeowners, as Atlanta’s public transportation ranks poorly nationally and traffic riddles the city.
“This is one more meaningful step in the Atlanta BeltLine’s goal to create affordable housing around the corridor, allowing people to have access to greenspace and walkable amenities, creating whole communities where ultimately we hope people can access jobs and services within walking distance of where they live, without the need for a car,” said Clyde Higgs, President and CEO of Atlanta BeltLine, Inc. “Through this collaboration with City of Refuge, we are making sure all Atlantans will have affordable living options as part of our comprehensive plan for affordability.”
The property, once the site of an apartment complex that fell into disrepair, is also near the recently opened Westside Park.
“Our mission is to ensure that people in one of Atlanta’s most historic and struggling neighborhoods, where nearly 40 percent of residents live below the Federal Poverty Level, are not left behind when it comes to equitable resources, like affordable housing. We seek to lead individuals and families on an uninterrupted journey to self-sufficiency. Our collaboration with Atlanta BeltLine puts the pieces in place to provide new housing options to people who need and deserve fair access to safe and affordable places to live,” said Bruce Deel, CEO of City of Refuge, Inc.
City of Refuge delivers critical resources, including food, job training and housing to underserved residents and plans to pursue affordable housing development on the site through the Low-Income Housing Tax Credit program, serving low-income residents. The program has become the state’s most successful affordable rental housing production program and serves households with incomes between 20 percent and 80 percent of the Area Median Income (AMI).