atlanta beltline housing + transit conference october 21, 2011 historic fourth ward park
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Atlanta BeltLineHousing + Transit Conference
October 21, 2011 Historic Fourth Ward Park
Atlanta BeltLine Overview
ATLANTA RAILROAD LEGACY
• Inside the Perimeter
• 2 – 3 miles from Downtown Core
WHERE IS THE ATLANTA BELTLINE?
ATLANTIC STATION
Trails33 miles
Affordable & Workforce Housing5,600 Units
Historic Preservation Public Art &Streetscapes
Parks1300 + new acres
Jobs & Economic Development30k jobs
Environmental Clean-up 1100 + acres
WHAT IS THE ATLANTA BELTLINE?Key Elements
Transit 22-mile loop
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.
ATLANTA BELTLINE PARKS & TRAILS
WESTSIDE PARK & RESERVOIR300 Acre addition to Atlanta Park System
ATLANTA BELTLINE TRANSIT
Historic Fourth Ward Park
Boulevard Crossing Park
Peachtree Creek Park
MurphyCrossing Park
Hillside Park
Maddox Park
WestsideReservoir Park
Waterworks
Piedmont Park
Glenwood W. Park
Southside H.S. Park
StantonPark
Enota Park
ArdmorePark
FourCorners
Park
Atlanta Memorial Park
North Woods Expansion
Washington Park
Grant Park
Oakland Cemetery
I-75/85
I-20
I-75
I-20
BUCKHEAD
MIDTOWN
DOWNTOWN
I-85 Plan
•22-mile transit loop
•40+ stations
•Modern streetcar or light rail
•Connect with MARTA in 4 locations
Progress
•49% of corridor under control
•Completed Tier 1 EIS
•Transit Implementation Strategy underway
•Regional penny sales tax referendum in 2012
• $60M of BeltLine projects on the list
• ~30% of Atlanta BeltLine
• Purchase and preservation of Corridor
• Initial Corridor developmento Environmental Remediation,
infrastructure/utility design, construction of multi-use trail and
amenities
• Private Property Reinvestmento Greater connectivity from adjacent
private developments, increased urban density, increased increment
BELTLINE CORRIDORDevelopment Process
Transit ImplementationTransit Implementationo Integrated into public realmIntegrated into public realm
o With sufficient funding, construction can With sufficient funding, construction can begin within 3-5 years of acquiring begin within 3-5 years of acquiring
corridorcorridoro Supports new private development Supports new private development
investmentsinvestments
ATLANTA BELTLINE PLANNINGLand 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
ActivityAmount(In Millions)
Land $ 570
Parks & Trails $ 340
Transit & Transportation Improvements $1,375
Workforce Housing & Incentives $ 360
Admin & Project Management $ 32
APS Projects $ 95
Total Capital Cost $2,772
Source: TAD Redevelopment Plan, Nov 2005
TAX ALLOCATION DISTRICT
How does the BeltLine TAD work?
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.
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.
Tax
Reve
nue
2005 2030
1
32
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?
Program Components
•Downpayment assistance
•Development incentives
•Property acquisition
White Provisions – 3 downpayment assistance closings
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
• Acquired 30 units. Investigating other acquisitions
Huff Heights – 1 downpayment assistance closings
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 AlexanderHousing and Economic Development ManagerAtlanta BeltLine, Inc404.588.5472jalexander@atlbeltline.org
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