The Integrated Action Plan
ABI completed an Integrated Action Plan (“IAP”) in 2015 to determine how to achieve the 2005 Redevelopment Plan’s ambitious economic development and housing goals. The core elements of these goals are the following:
- 30,000 new permanent jobs;
- 48,000 one-year construction jobs; and
- 28,000 new housing units with 5,600 affordable workforce units.
The approach of the IAP is practical and action-oriented. It concentrates on fiscal years 2016 to 2020, while also establishing a longer term general framework through 2030. Additionally, real estate acquisition is emphasized in this effort as a critical tool to achieve these goals and more effectively manage development outcomes.
Progress to date is demonstrated in tangible projects which were directly supported by ABI and/or Invest Atlanta incentives, involvement, and development. Sample projects include Ponce City Market, Lofts at Reynoldstown Crossing, Stanton Oaks in Peoplestown, Krog Street Market, AMLI Ponce Park, Reynoldstown Senior, Sky Lofts, and over 100 units purchased with downpayment assistance in complexes around the Atlanta BeltLine.
ABI’s foundational strategic approach in fiscal year 2016 to 2020 will be raising financial resources and controlling land to advance programmatic goals. The approach acknowledges that controlling land early in the development process, while it entails more risk, is more effective and targeted than providing incentive financing at the back end of the development process.
ABI identified priority projects for the upcoming five-year period. The first two projects focus on fundraising and are necessary to implement the remainder of the projects below:
- Develop new and maximize existing sources of revenue;
- Establish and capitalize the acquisition fund;
- Advance the State Farmers Market site;
- Drive the completion of Lofts at Reynoldstown Crossing Phase II buildout;
- Lead planning efforts in the Boulevard Crossing node with surrounding property owners;
- Activate new commercial activity at the beginning, middle, and end of the Westside Trail to enhance the user’s experience;
- Implement and scale the Federal Home Loan Bank Structured Partnership, offering owner occupied rehabilitation and downpayment assistance; and
- Directly support the creation of three major projects with affordable workforce housing.
The IAP outlines an aggressive approach to the Redevelopment Plan goals. Implementation will require significant scale and focus within ABI and from an ever expanding list of external partners. It will also require new and increased funding sources from the Atlanta community and beyond. ABI is confident that investing in these initiatives in a coordinated and comprehensive manner will help create an economically stronger and more impactful Atlanta BeltLine community, city and region.