Atlanta BeltLineP a r t n e r s i n I n n o v a t i o n

September 27, 2010 Northside BeltLine Trail, completed April 2010

Atlanta BeltLine Overview

ATLANTA RAILROAD LEGACY

• Inside the Perimeter

• 2 – 3 miles from Downtown Core

WHERE IS THE ATLANTA BELTLINE?

ATLANTIC STATION

Trails

33 miles

Affordable & Workforce Housing

5,600 Units

Historic Preservation Public Art &Streetscapes

Parks

1300 + new acres

Jobs & Economic Development

30k jobs

Environmental Clean-up 1100 + acres

WHAT IS THE ATLANTA BELTLINE?Key Elements

Transit

22-mile loop

ATLANTA BELTLINE TRANSIT

• 22-mile Transit Loop with 4 new potential connections to existing MARTA service.

• 45 proposed stations

• Modern streetcar or light rail 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

• Emerald necklace: Up to 1,300 acres of new parks and greenspace

• Many on former industrial lands

• 33 miles of trails alongside transit

• Alongside transit

• Spur trails connecting surrounding neighborhoods to the BeltLine

ATLANTA BELTLINE PARKS & TRAILS

I-75/85

I-20

I-85I-75

Historic 4th

Ward Park

Peachtree

Ck Park

Boulevard

Crossing Park

Intrenchment

Woods Park

HillsidePark

Maddox Park

Westside

Reservoir

Park

Waterworks

Park

Colonial

Park

Ansley Sq.

Glenwood W.

Park

Southside H.S.

ParkStanton/

Four Corners

Lawton St

Park

Enota Park

Piedmont ParkExpansion

Murphy

Crossing Park

Tallulah

Park

• Purchase and preservation of Corridor

• Initial Corridor development

o Environmental Remediation, infrastructure/utility design,

construction of multi-use trail and amenities

• Private Property Reinvestment

o Greater connectivity from adjacent private developments, increased

urban density, increased increment

BELTLINE CORRIDORDevelopment Process

Transit Implementation

o Integrated into public realm

o With sufficient funding, construction can begin within 3-5 years of acquiring

corridor

o Supports new private development investments

ATLANTA BELTLINE PLANNINGLand Use and Connectivity

10 Subarea Master Plans

• Promote improved connectivity

• Promote denser developments

• Promote improved livability

• 48% of ROW Corridor secured for BeltLine Transit & Trails through purchase, lease or option (July 2009)

• Tier I Environmental Impact Statement (EIS) underway with MARTA for the entire 22-mile corridor and will be completed in Summer 2010

• Rails and overgrowth removed to create pedestrian access

• Corridor Design team selected including world-renowned international and local firms

• Perkins & Will, James Corner Field Operations, HDR, Kimley-Horn

BeltLine Northeast Corridor

ATLANTA BELTLINE CORRIDOR & TRANSITProgress to Date

GREENSPACE & TRAILS

• Over 280 acres have been acquired for greenspace along the BeltLine

• In 2010, there will be 3 parks in final construction and interim work done on 2 others

• 3.3 miles of permanent trail completed (10% of entire system)

• 7 miles of hiking trails completed

• 2.5 miles of permanent trail to begin construction in October 2010.

Northside Trail

Progress Update

WESTSIDE PARK & RESERVOIR

• Will be the largest park in the City and the new reservoir will provide a 30-day backup water supply

Bellwood Quarry, site of the future Westside Reservoir Park

300 Acre addition to Atlanta Park System

• Park Master Plan adopted March 2009

• Reuse and remediation of 17 acres of former industrial and contaminated land

• Energy-Neutral Park

• Provides stormwater drainage relief to a 300-acre drainage basin around City Hall East

• Funded by Department of Watershed Management Opportunity Bonds; Park Opportunity Bonds; Capital Campaign

• Completion early 2011

HISTORIC FOURTH WARD PARK

HISTORIC FOURTH WARD PARKRendering

HISTORIC FOURTH WARD PARKUnder Construction

TRAILSWest End Trail

Affordable Housing Program

August 17, 2010 Northside BeltLine Trail, completed April 2010

AFFORDABLE HOUSING PROGRAM -OVERVIEW

• Goals• 5,600 units• $240M Affordable Housing Trust

Fund over 25 Years• Housing choice around the BeltLine

for existing and new residents

• Components• Downpayment assistance• Developer incentives• Property Acquisition (land banking)

• Deal Fundamentals• Grant-based• ~$40K per unit. No more than 30%

of total development costs

AFFORDABLE HOUSING PROGRAM -PROGRESS

• Established policies with the BeltLine Affordable Housing Advisory Board

• Capitalized an $8.8M Trust Fund with 1st

Bond issue

• 30 downpayment assistance closings to date.

• Committed $1.6M in incentives (69 units)

• Created a more substantial property acquisition fund for targeted purchases

Financing

August 17, 2010 Northside BeltLine Trail, completed April 2010

BELTLINE FUNDING

Anticipated Funding Sources Capital Costs

Activity

Amount(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

Rev

enu

e

2005 2030

1

32

PRIVATE DEVELOPMENT

• Over 50 projects complete or underwaywithin TAD.

- 9,000 new residential units- 700,000 SF of new commercial space

AFFORDABLE HOUSING TRUST FUND FINANCING

• 15% of TAD bond proceeds dedicated to the BeltLine Affordable Housing Trust Fund

• Tax exempt bonds

• Incentive gap financing (other developer equity and sources of financing needed)

• Early application in the process (fully funded financial plan not necessary)

• More than just financial incentives• Master planning prepares communities for land use and zoning densities• Parking requirement relief (in process)• Transit, parks, trails

• Two key lessons we are learning• Coordination is key with other funders – especially HOPE VI / Choice

Neighborhoods and LIHTC• Greater focus on land banking and property acquisition

James AlexanderSenior Project ManagerAtlanta BeltLine, Inc404.588.5472jalexander@atlbeltline.org