On December 28, 2020, Atlanta BeltLine, Inc. (ABI) closed on an almost 3-acre property in Buckhead. This purchase represents an important milestone in ABI’s strategy to create long-term affordability around the Atlanta BeltLine for residents and small businesses alike.
Wells Fargo sold the two parcels of land at 579 Garson Drive for $900,000, well below market rate, as a partial donation to the Atlanta BeltLine Partnership. Located near the intersection of Garson Drive and Piedmont Road, this acquisition provides a unique opportunity to bring affordable housing to the Lindbergh/Buckhead area. Additionally, portions of the site may also be used for a critical section of the Atlanta BeltLine trail and help create connectivity to the nearby Lindbergh MARTA station and PATH 400 terminus.
This purchase is a direct reflection of the importance that ABI has placed on land acquisition as a strategy to create long-term affordability in Atlanta BeltLine neighborhoods. By owning the land, ABI will have a greater say in selecting developers to construct job creation centers, affordable housing, and transit-oriented development along the corridor. The intersection of these goals is one of the key tools ABI will use to tackle overall affordability.
“The purchase of the Garson property is a huge step for the Atlanta BeltLine project in diversifying land acquisitions to bring greater affordability to neighborhoods all around the BeltLine, including Buckhead,” shared Clyde Higgs, CEO of Atlanta BeltLine, Inc. “We are very grateful to Wells Fargo for their support, which will enable ABI to do more to ensure equity around the 22-mile loop.”
“Wells Fargo is focused on addressing the housing affordability crisis in Atlanta and across the country by investing in initiatives that help unlock more housing options for those in need,” said Region Bank President Mike Donnelly, who also served on the Atlanta BeltLine Partnership board. “We are delighted that this land acquisition will help reduce the burden of housing costs and increase access to safe, affordable places to live, especially along the BeltLine, a key asset for our city.”
“We greatly appreciate Wells Fargo’s generous contribution, which helps move the Atlanta BeltLine vision forward,” said Atlanta BeltLine Partnership Executive Director Rob Brawner. “Their commitment to affordability and equity is instrumental to ensure that residents live, work, and thrive in BeltLine neighborhoods.”
Wells Fargo’s generous contribution moves the Atlanta BeltLine vision forward and demonstrates their commitment to affordability and equity in Atlanta and beyond.
Other land acquisitions by ABI aimed to create long-term affordability in BeltLine neighborhoods include Murphy Crossing, a 20+ acre site located at 1050 Murphy Avenue and, most recently, a 9-acre property on Avon Avenue near Murphy Crossing. In the fall 2020, ABI launched a robust community engagement campaign to gather community input in preparation for the drafting of a Request for Proposal (RFP) to redevelop Murphy Crossing. It is anticipated that this RFP will be released in late winter/early spring of 2021. A similar community engagement and RFP process will take place for the redevelopment of the Avon and Garson sites.