Atlanta Beltline Inc. is moving ahead in developing its largest landholding into a mixed-use community with an affordable housing component.
The redevelopment agent for the Atlanta Beltline project filed plans for a $270 million development on 31 acres at 425 Chappell Road in the Bankhead neighborhood, the Atlanta Journal-Constitution reported. The project aims to address housing affordability and improve connectivity in the area.
It bought the property in 2021 for $26 million and envisions up to 1,100 apartments and townhomes — including both rental and for-sale options — with nearly 30 percent set aside as affordable. The project will also feature 5,000 square feet of commercial space.
Affordable rental units will target families earning 50 to 80 percent of the area median income, ranging from $53,750 to $86,000 for a family of four, while affordable for-sale units will serve households earning up to 120 percent of the area median income.
The development will create connectivity between public green spaces, MARTA’s rail network, and surrounding neighborhoods, said Dennis Richards Jr., the Beltline’s vice president of housing policy and development.
The organization will build on a previous proposal by Brock Built Homes, which sold the land after its plan for 450 apartments and 242 townhomes stalled. The Beltline’s version will increase density and prioritize affordability. The development site is adjacent to a 90-acre property owned by Microsoft, whose plans for a corporate campus are on hold.
Atlanta Beltline’s efforts extend beyond 425 Chappell Road. It recently bought a 6-acre site nearby. Earlier this year, it selected Arizona-based Culdesac and Urban Oasis Development to redevelop a 20-acre former industrial site in southeast Atlanta. The Murphy Crossing project will feature 1,100 housing units, including an affordable component, and 180,000 square feet of commercial space. Atlanta Beltline also purchased the Elleven45 Lounge, at 2110 Peachtree Road Northwest, to enable trail expansion in Buckhead.
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