A deal to sell nearly two-acres along the Atlanta Beltline’s Eastside Trail has cleared the way for an $80 million project with apartments, street-level retail and chef-driven restaurants.
The sale involved one piece of a larger 4.5-acre site where two historic intown Atlanta neighborhoods, Inman Park and Old Fourth Ward, converge along the Eastside Trail, DeKalb and Edgewood avenues.
North American Properties and Vantage Realty Partners assembled the land and will develop the site. Brock Hudgins Architects is designing the project.
The agreement includes a requirement that North American will develop 36 affordable units on the nearly two-acre site the Beltline sold for the project. Those affordable units could start at around $1,000 for one-bedrooms to $1,400 for two-bedrooms, said Richard Munger, a partner with North American Properties.
Market rate units would range $1,300 to $2,500. The entire project will include 350 market-rate and affordable units.
Vantage Realty is also developing space for loft office, street-level retail and restaurants. Most of those amenities will front the Beltline, and the loft office will front Edgewood. Vantage Realty’s Chris Carter said the restaurants will reflect the unique character of the historic neighborhoods.
“You won’t see one national chain after another,” Carter said.
The project has been in the works since 2015.
Atlanta Beltline Inc., with assistance from The Conservation Fund and the Atlanta BeltLine Partnership, purchased the site two years ago. The goal was to protect the alignment of the Atlanta Beltline, remediate a brownfield site, and develop a mixed-use project with affordable workforce housing. Formerly owned by Aramark, the site was most recently used as an industrial laundry facility. It was one of the few remaining blighted brownfield properties on the historic Decatur Belt Railway.
The project hasn’t always gone over smoothly with the neighborhoods.
An extension of the Eastside Trail that’s now under construction runs through the site. Last year, community activists were up in arms because they believed the proposed alignment of the Eastside Trail would prohibit future transit under DeKalb Avenue and through nearby Hulsey Yard — an active CSX Corp. rail yard and one of the most complicated segments the Eastside Trail will need to navigate.
By: Douglas Sams