Affordable Buckhead housing options might just be available sooner than you think! On December 28, 2020, Atlanta BeltLine, Inc. (ABI) closed on a three-acre property in Buckhead that represents an incredible milestone in the organization’s ongoing strategy to create long-term affordability around the Atlanta BeltLine for both residents and small businesses to thrive in.
As a partial donation to the Atlanta BeltLine Partnership, Wells Fargo sold two parcels of land at 579 Garson Drive well below market value at a price of just $900,000. Ideally located near the intersection of Garson Drive and Piedmont Road, this new land acquisition offers an exciting opportunity to bring more affordable housing to the Buckhead area. In addition to the housing opportunities, portions of the site are like to also be used to expand the Atlanta BeltLine trail to help add connectivity between these future homes and nearby transportation including the Lindbergh MARTA station and PATH 400 terminus.
The purchase of the Garson property is a huge step in the Atlanta BeltLine’s mission to diversify land and create a more inclusive community that is economically resilient. Over the years, the organization has placed great importance on land acquisition as a strategy for creating long-term affordability in Atlanta BeltLine neighborhoods. Through the ownership of this new land, the organization will have a greater influence in the say in selecting the developers that will construct the affordable housing, job creation centers and transportation systems.
Wells Fargo, the former owner of the Garson property, is proud to be a part of this new land acquisition deal and provide the Atlanta BeltLine with this exciting opportunity for growth and housing cost diversification. The company is well known for its focus on addressing housing issues by investing in initiatives that help to unlock opportunities for more affordable options. Seeing the BeltLine as a key asset to the city, Wells Fargo was more than willing to offer this land below market price to help ABI in reducing the burden of housing costs in the Buckhead area and increase access to safe places to live, work and thrive along the 22-mile loop.
In addition to the Garson property, other recent land acquisitions by ABI include an expansive 20+ acre site located at 1050 Murphy Avenue known as Murphy Crossing and a 9-acre property located nearby on Avon Avenue. Last fall, ABI launched a community engagement campaign to collect input to help in drafting a Request for Proposal (RFP) to redevelop the Murphy Crossing site. A similar community engagement campaign and RFP are expected to take place for the redevelopment of the Garson and Avon properties as well.
For more information on the Atlanta BeltLine and land acquisition updates, please visit www.BeltLine.org.
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