The Atlanta Beltline and Urban Realty Partners have closed on a public/private deal to develop Oakland Exchange, a mixed-use project on the former Cut Rate Box Co. sites in Southwest Atlanta.
According to a press release, the project will preserve two historic warehouse buildings, bringing affordable housing and commercial space adjacent to the Beltline.
Under the agreement, the Beltline acquired the site and existing buildings, and Urban Realty Partners will complete development through a long-term ground lease. The project is supported by a combination of public and private financing sources, the press release said.
Located at 1088 and 1100 Murphy Ave. SW in the Oakland City neighborhood, the 6-acre site is directly across Sylvan Road from Murphy Crossing, the Beltline’s 20-acre planned development.
The three- and four-story historic brick structures, recognizable by huge painted signs that say Cut Rate Box Co. and Welcome to Atlanta, are landmarks in Southwest Atlanta, with high visibility from MARTA trains running between Downtown and Hartsfield-Jackson Atlanta International Airport.
Phase I of Oakland Exchange includes the adaptive reuse of these two early 1900’s warehouse buildings into 126 loft apartments and 16,000 square feet of creative commercial space geared toward local small businesses. Phase I includes construction of 3,000 square feet of retail/restaurant spaces fronting the adjacent Oakland + Murphy Connector Trail, which is currently in design. The 1.31-mile trail will begin at the existing Southwest Trail access point at Allene Avenue SW and split into two segments, connecting to the MARTA Oakland City station.
Under the first phase of this public/private deal, 60% of the homes will be affordable to residents at 80% of Area Median Income (AMI).
The overall Oakland Exchange project is planned to include two future phases of ground-up development at 1066 Murphy Ave and 1135 Sylvan Road. Both phases are likely to be multifamily, as the land is zoned for high-density residential development.
Funding includes a construction loan by Ameris Bank, state and federal historic tax credit financing by Enhanced Capital, in addition to GoATL, a fund established by the City of Atlanta, and a mezzanine loan by Community Foundation for Greater Atlanta to incentivize affordable housing. Through the Beltline Tax Allocation District (TAD) Increment Fund, funding was provided in April 2025 made possible by Fulton County, Atlanta Public Schools, and City of Atlanta.
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