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THE ATLANTA BELTLINE Presented to

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Atlanta BeltLine
Housing + Transit Conference
October 21, 2011
Historic Fourth Ward Park
Atlanta BeltLine Overview
ATLANTA RAILROAD LEGACY
WHERE IS THE ATLANTA BELTLINE?
• Inside the Perimeter
ATLANTIC STATION
• 2 – 3 miles from Downtown Core
WHAT IS THE ATLANTA BELTLINE?
Key Elements
Transit
22-mile loop
Parks
1300 + new acres
Trails
33 miles
Affordable & Workforce
Housing
5,600 Units
Historic Preservation
Public Art &
Streetscapes
Jobs & Economic
Development
30k jobs
Environmental
Clean-up
1100 + acres
ATLANTA BELTLINE PARKS & TRAILS
Parks
• Atlanta is an underparked City
• 4% of City acres
• Compared to 9% in Austin
• Plan: Emerald necklace of 1,300 acres of
new parks and greenspace
• Progress: acquired 481 acres; opened 3
parks.
Trails
• Plan: 33 miles of trails alongside transit
• Alongside transit
• Spur trails connecting surrounding
neighborhoods to the BeltLine
• Progress: 12 miles open to public.
WESTSIDE PARK & RESERVOIR
300 Acre addition to Atlanta Park System
ATLANTA BELTLINE TRANSIT
BUCKHEAD
I-85
Atlanta Memorial Park
I-75
Plan
• 22-mile transit loop
• 40+ stations
Peachtree Creek Park
Ardmore
Park
Waterworks
Piedmont
Park
North Woods Expansion
• Connect with MARTA in 4 locations
Progress
MIDTOWN
Westside
Reservoir Park
• Modern streetcar or light rail
• 49% of corridor under control
Historic Fourth
Ward Park
Maddox Park
• Completed Tier 1 EIS
Washington Park
• Transit Implementation Strategy underway
I-20
Oakland
Cemetery
Enota Park
Grant Park
DOWNTOWN
Four
Corners
Park
Murphy
Crossing Park
Hillside Park
I-75/85
Stanton
Park
Boulevard Crossing Park
Glenwood
W. Park
Southside
H.S. Park
I-20
• Regional penny sales tax referendum in
2012
• $60M of BeltLine projects on the list
• ~30% of Atlanta BeltLine
BELTLINE CORRIDOR
Development Process
• Purchase and preservation of
Corridor
• Initial Corridor development
o Environmental Remediation,
infrastructure/utility design,
construction of multi-use trail and
amenities
• Private Property Reinvestment
o Greater connectivity from adjacent
private developments, increased
urban density, increased increment
Transit Implementation
o Integrated into public realm
o With sufficient funding, construction can
begin within 3-5 years of acquiring
corridor
o Supports new private development
investments
ATLANTA BELTLINE PLANNING
Land Use and Connectivity
10 Subarea Master Plans
• Promote improved
connectivity
• Promote denser
developments
• Promote improved
livability
Atlanta BeltLine Project Financing
BELTLINE FUNDING
Anticipated Funding Sources
Capital Costs
Amount
Activity
Land
$ 570
Parks & Trails
$ 340
Transit & Transportation Improvements
$1,375
Workforce Housing & Incentives
$ 360
Admin & Project Management
$ 32
APS Projects
$ 95
Total Capital Cost
Source: TAD Redevelopment Plan, Nov 2005
(In Millions)
$2,772
TAX ALLOCATION DISTRICT
How does the BeltLine TAD work?
Tax Revenue
1. When the TAD was adopted in 2005,
the City, County, and Public Schools
agreed to receive the tax revenue
generated in the TAD at the time of
adoption for the next 25 years.
3
2
1
2005
2030
2. As new development happens
because of the BeltLine, additional
tax revenue is generated. This
additional tax revenue helps pay for
the BeltLine.
3. After 25 years, the City, County and
Public Schools receive all tax revenue,
which is higher than it would have
been without the BeltLine.
PRIVATE DEVELOPMENT
• Over 50 projects complete or underway
within TAD.
- 9,000 new residential units
- 700,000 SF of new commercial space
Affordable Housing Program
AFFORDABLE HOUSING PROGRAM OVERVIEW
Origins
• Concerns about social impacts and
gentrification
• Non profit developers and policy groups
advocated to City Council for an
Affordable Housing Trust Fund
• Council included Trust Fund in TIF/TAD
creation legislation
Legislative Framework
• 15% of each TAD issue dedicated to Trust
Fund
• 5,600 unit goal over 25 years
• BeltLine Affordable Housing Advisory
Board
IPV Lofts – 2 downpayment assistance closings
AFFORDABLE HOUSING PROGRAM OVERVIEW
Core Principles
• Facilitate housing near jobs and transit
for those who would otherwise be priced
out.
• Serve as a catalyst for the revitalization of
communities along the BeltLine
• Help mitigate economic displacement
Other Principles
• TOD
• Long term affordability and wealth
creation
• Preserve existing housing, where possible
• Mixed income
• Balance of owner occupied and rental
over time
Sky Lofts – 20+ downpayment assistance closings
• Green construction
• Equitable geographic distribution
• Grants (not loans)
AFFORDABLE HOUSING PROGRAM OVERVIEW
Policy Questions
• What should the major BAHTF
components be?
• Affordable to Whom?
• What kind of housing?
• Where should housing be located?
• How should we sustain affordability?
• How can we help mitigate economic
displacement?
White Provisions – 3 downpayment assistance closings
Program Components
• Downpayment assistance
• Development incentives
• Property acquisition
Reynoldstown Senior – Trust Fund commitment for 43 units
AFFORDABLE HOUSING PROGRAM OVERVIEW
Progress
• Capitalized an $8.8M Trust Fund
• Downpayment Assistance
• 42 closings
• Incentives
• 164 units committed funding
• Acquisition
Huff Heights – 1 downpayment assistance closings
• Acquired 30 units. Investigating
other acquisitions
Milltown Lofts 1 downpayment assistance closing
AFFORDABLE HOUSING PROGRAM OVERVIEW
Spotlight – Reynoldstown Depot Acquisition
• Stalled condominium development
• ABI bought out of receivership
• Converting into 30 units of owner occupied affordable housing
• Land for 2nd phase
• Atlanta Land Trust Collaborative
Reynoldstown Depot – BeltLine Distressed Acquisition
AFFORDABLE HOUSING PROGRAM OVERVIEW
Lessons Learned
• LIHTC is key
• Mortgage revenue bonds
• Property acquisition and
downpayment assistance
key to affordable housing
in higher cost or
gentrifying areas
• Zoning incentives
James Alexander
Housing and Economic Development Manager
Atlanta BeltLine, Inc
404.588.5472
jalexander@atlbeltline.org
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