Atlanta Beltline Unveils Local Developer Incentive Fund, Now Accepting Applications for Grant

Atlanta Beltline, Inc. has launched the Local Developer Incentive Fund, a groundbreaking pilot program that provides direct capital to small, local developers completing commercial development projects along the Beltline. The initiative addresses the urgent need for affordable commercial spaces for small businesses and local entrepreneurs by offering grants ranging from $150,000 to $500,000 that dedicate a portion of their commercial space to below-market rents for at least 10 years.The fund strengthens neighborhoods and creates lasting opportunities for small businesses.

“Launching the Local Developer Incentive Fund marks a pivotal moment in the Beltline's evolution,” said Clyde Higgs, President & CEO at Atlanta Beltline, Inc. “We're proving that transformative development and community preservation aren't mutually exclusive, and we want to ensure that residents and visitors alike experience the authentic, locally-owned businesses that represent the true spirit of our city. This fund is our commitment to making that vision a reality.”

The fund supports both new construction projects and recently completed developments actively seeking commercial tenants. The effort is intended to support small business entrepreneurship and to preserve historic communities of color and the cultural heritage that characterizes many Beltline neighborhoods at a time when Atlanta is getting thousands of newcomers and visitors.

“Our local shops and restaurants are the heart of our neighborhoods but rising rent often stands in the way of their dreams,” said Kelvin Collins, Vice President of Economic Development at Atlanta Beltline, Inc. “The Local Developer Incentive Fund is our direct response—an innovative model that shares the responsibility of fostering small business success with our development community. This is how we ensure that Beltline’s growth works for everyone”.

Developer Benefits and Incentives

• Administered by the Center by Lendistry, the Local Developer Incentive Fund reduces risk and strengthens project feasibility while advancing community goals. Key benefits include:

• Grants may be recovered or required to be repaid, if affordability commitments are not maintained for 10 years

• Funding to close critical project gaps and attract additional investment

• Operational support from the Atlanta Beltline Business Solutions Office, including qualified tenant sourcing and streamlined lease-up services

• Market intelligence, such as rent benchmarking and compliance studies, to offset costs

Together, these benefits improve long-term project returns and the impact on the community by providing affordable commercial space for small businesses.

“Through our Business Solutions Office, we're not just connecting entrepreneurs with affordable spaces; we're providing the support ecosystem they need to thrive,” said Natalie Jones, Business Solutions Office Project Manager at Atlanta Beltline, Inc. “From qualified tenant sourcing to market intelligence, we're ensuring that these below-market rent opportunities translate into genuine business success stories that will anchor our communities for years to come.”

Advancing Commercial Affordability Strategies

The highest commercial lease rates in metro Atlanta are on the Beltline, surpassing both Buckhead and Perimeter submarkets and outpacing growth in Neighborhood Stabilization Areas in neighborhoods throughout the corridor. Property ownership has become increasingly unattainable, while minority- and locally owned businesses face additional barriers. With few new developments delivering smaller, flexible commercial spaces, the gap between what small businesses can afford and what the market demands has widened, threatening to displace legacy businesses and hinder new ones. Creating affordable commercial space will protect legacy businesses, open doors for new entrepreneurs, and ensure Atlanta’s growth is inclusive and sustainable.

Commercial affordability is a core pillar of the Beltline’s economic development framework, supported by the Beltline's strategic land acquisition strategy which underpins the long-term approach to deliver on affordable housing and commercial affordability for neighborhood small businesses. The strategy continues to expand through initiatives such as the Atlanta Beltline Marketplace, now supporting 14 businesses across four locations, a newly launched Beltline Commercial Affordability Consortium (BCAC) and ongoing efforts to elevate the nationwide conversation around long-term affordability solutions.

The BCAC is generously supported by funding from the Robert Wood Johnson Foundation and in partnership with Kindred Futures and Urban Land Institute Atlanta and will bring together a diverse group of stakeholders to serve as a collaborative body to help develop and prioritize solutions and advise on policy and practices that preserve and create affordable commercial space along the Beltline corridor. The Beltline is seeking to create a national model for this work here in Atlanta and seeking additional partners and funders to support building the ecosystem.

The launch of the Local Developer Incentive Fund comes at a strategic time as Atlanta prepares for major international events, including FIFA World Cup 26™ and Super Bowl LXII. The program will provide small businesses with the stable, affordable spaces needed to build solid foundations for economic growth during these large-scale events and beyond.

How to Apply

Developers interested in the program can apply here. Applications close October 24th. Project must meet the following criteria:

• Must be located in the Beltline corridor

• Must include a commercial affordability commitment to lease a portion of the commercial space at below-market rates for a minimum of 10 years

• Tenants must meet small business income and employment thresholds

  • Have gross revenue less than $1.5 million

  • Employ 20 people or fewer

  • Operate no more than one location in the state

The fund is supported by 2016 bond proceeds designated for economic development. For more information on the Local Developer Incentive Fund, visit here. Media assets can be found here.