The Atlanta BeltLine has been a dream for revitalizing Atlanta for more than 20 years, but it is only in the past 10 that it has developed an unstoppable momentum. The undertaking has been a collaborative effort toward re-energizing and connecting more than forty in-town neighborhoods through sustainable development. The project promises to transform 22 miles of railroad track and surrounding land into a multi-use trail, vast tracts of green space, affordable housing, and art. It has even received national attention as one of the country’s most ambitious revitalization efforts. So how has it affected surrounding neighborhoods thus far?
While the project is still underway and long-term impact is yet to be seen, there are already a number of private development projects taking place near the BeltLine in anticipation of the project’s economic and social impact. In fact, more than one billion dollars has already been invested in new development since 2005, with more than 12,136 new residential units within 1/2 mile of the BeltLine either completed or in progress. This rush in new construction didn’t slow with the economic downturn and will only continue to progress as the economy continues to recover.
All of this new construction and development has of course led to higher property values and rising home prices. If you are thinking of purchasing a home along the BeltLine corridor, the time to act is now. As the quality of life in neighborhoods surrounding the corridor improves, the availability and affordability of Atlanta BeltLine homes for sale will continue to decrease dramatically. The Atlanta BeltLine Affordable Housing Program is putting together a number of options to mitigate the rising housing prices, from providing down payment assistance for homebuyers to offering incentives for developers to creating a trust fund for affordable housing initiatives.
With more than 1,300 acres of usable green space, easily accessible public transit between surrounding neighborhoods, 30,000 permanent jobs, and $20 billion in economic development, the BeltLine aims to breathe new life into chronically underdeveloped and underfunded neighborhoods surrounding Atlanta. It is all part of an effort that will allow Atlanta to gracefully move forward into an economically progressive future.
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