The Atlanta Beltline is looking for a developer to turn a wooded site into new homes for Buckhead residents, particularly those who are being priced out of the area.
Beltline officials issued a request for proposals Tuesday to seek development pitches for a 2.7-acre site at 579 Garson Drive, which is near the Lindbergh MARTA station. The land is situated on the banks of Peachtree Creek and is located near the future Atlanta Beltline Northeast Trail.
The Beltline purchased the property from Wells Fargo in 2021 for $900,000, which the organization said was “well below market rate” at the time. Clyde Higgs, Beltline president and CEO, said the land was immediately identified as a prime spot for mixed-income housing, where market-rate and affordable homes intermingle.
“The development of our Garson Drive site presents a unique opportunity to bring housing units that will be affordable for a mix of incomes to Buckhead,” Higgs said in a news release.
He added that the site’s developer will need to share the Beltline’s affordable housing and economic development goals, which must include mixed-income, multifamily housing.
Affordable housing is a required aspect of Beltline developments. All new apartment projects in Inclusionary Zoning areas along the popular multi-use trail must either reserve 10% of units at 60% of the Area Median Income — $40,500 for an individual — or 15% of units at 80% of the Area Median Income — $54,000 for an individual.
The Beltline’s Housing Policy and Development department also has a goal of creating or preserving 5,600 units of affordable housing within the Beltline Tax Allocation District. The release said the organization has met 56% of that goal.
Buckhead is among the most expensive areas to live in metro Atlanta. According to Atlanta real estate services firm Berkadia, Buckhead’s effective rent in mid-2022 was $2,061, which ranked second-more expensive in the metro behind Midtown. Buckhead’s occupancy rate was also 95%.
The Garson Drive site is located at a meeting point in metro Atlanta’s fast-growing trail network. Path 400, South Fork Confluence Trail and the Peachtree Creek Greenway are planned to meet near the Lindbergh area.
Proposals are due May 1 at 3 p.m. More information is available at beltline.bonfirehub.com/opportunities/85030.
