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Atlanta BeltLine
Partners in Innovation




September 27, 2010       Northside BeltLine Trail, completed April 2010
Atlanta BeltLine Overview
ATLANTA RAILROAD LEGACY
WHERE IS THE ATLANTA BELTLINE?




                                 • Inside the Perimeter


            ATLANTIC STATION
                                 • 2 – 3 miles from Downtown Core
WHAT IS THE ATLANTA BELTLINE?
Key Elements




Transit                  Parks                   Trails         Jobs & Economic
22-mile loop             1300 + new acres        33 miles       Development
                                                                30k jobs




Affordable & Workforce   Historic Preservation   Public Art &    Environmental
Housing                                          Streetscapes    Clean-up
5,600 Units                                                      1100 + acres
ATLANTA BELTLINE TRANSIT

                                                     BUCKHEAD                                                   I-85
                                                      Atlanta Memorial Park
                              I-75
                                                                                                                            •   22-mile Transit Loop with 4 new
                                                                                         Peachtree Creek Park                   potential connections to existing
                                                            Ardmore
                                                            Park                                                                MARTA service.
                               Waterworks

                                                                            Piedmont
                                                                            Park
                                                                                                 North Woods Expansion
                                                                                                                            •   45 proposed stations
                                                                                                                            •   Modern streetcar or light rail transit
                                                      MIDTOWN
  Westside
  Reservoir Park
                                                                             Historic Fourth
                                                                             Ward Park
              Maddox Park

            Washington Park




I-20                                                                  Oakland
                                                                      Cemetery
       Enota Park                                                                                         Glenwood
                                                                                                                     I-20
                                                                            Grant Park
                                                                                                          W. Park

                                                 DOWNTOWN                                                Southside
                                                                                                         H.S. Park
                                                                   Four
                                                                  Corners     Stanton
                                                                   Park         Park




                                     Murphy
                                     Crossing Park                     Boulevard Crossing Park

                                          Hillside Park

                                                 I-75/85
ATLANTA BELTLINE PARKS & TRAILS

                                                                                             • Emerald necklace: Up to 1,300 acres of
                                                                                               new parks and greenspace
                            Colonial
                                                                        I-85
                      I-75 Park
                                                                                                  • Many on former industrial lands
                                                                  Peachtree
                                                                   Ck Park
               Waterworks
                                       Tallulah
                                        Park
                                                                     Ansley Sq.
                                                                                             • 33 miles of trails alongside transit
                  Park

                                                                       Piedmont Park
                                                                       Expansion
                                                                                                  • Alongside transit
                                                                                                  • Spur trails connecting surrounding
                                                                                                    neighborhoods to the BeltLine
                                                   Historic 4th
   Westside                                        Ward Park
   Reservoir
     Park             Maddox Park




Enota Park                                                                     I-20
                                                                           Glenwood W.
                                                                           Park
                                              Stanton/                      Southside H.S.
                               Hillside     Four Corners                    Park
                                Park                                     Intrenchment
      Lawton St
        Park                                                              Woods Park

                                                   Boulevard
                     Murphy                       Crossing Park
                  Crossing Park
                                   I-75/85
BELTLINE CORRIDOR
Development Process
                           • 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
                                   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 PLANNING
Land Use and Connectivity


                            10 Subarea Master Plans
                            • Promote improved
                              connectivity
                            • Promote denser
                              developments
                            • Promote improved
                              livability
ATLANTA BELTLINE CORRIDOR & TRANSIT
Progress to Date

• 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
GREENSPACE & TRAILS
Progress Update


• 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
WESTSIDE PARK & RESERVOIR
300 Acre addition to Atlanta Park System

                                           • 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
HISTORIC FOURTH WARD PARK

                            • 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
Rendering
HISTORIC FOURTH WARD PARK
Under Construction
TRAILS
West 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
                                                                                     Amount
                                             Activity                                (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.
Tax Revenue




                                        2. As new development happens
                         2          3
                                           because of the BeltLine, additional
                                           tax revenue is generated. This
                                           additional tax revenue helps pay for
                     1                     the BeltLine.
                                        3. After 25 years, the City, County and
                                           Public Schools receive all tax revenue,
                                           which is higher than it would have
              2005           2030
                                           been without the BeltLine.
PRIVATE DEVELOPMENT


                      • Over 50 projects complete or underway
                        within 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 Alexander
Senior Project Manager
Atlanta BeltLine, Inc
404.588.5472
jalexander@atlbeltline.org

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Atlanta BeltLine: Connecting People through Parks, Trails, and Transit

  • 1. Atlanta BeltLine Partners in Innovation September 27, 2010 Northside BeltLine Trail, completed April 2010
  • 4. WHERE IS THE ATLANTA BELTLINE? • Inside the Perimeter ATLANTIC STATION • 2 – 3 miles from Downtown Core
  • 5. WHAT IS THE ATLANTA BELTLINE? Key Elements Transit Parks Trails Jobs & Economic 22-mile loop 1300 + new acres 33 miles Development 30k jobs Affordable & Workforce Historic Preservation Public Art & Environmental Housing Streetscapes Clean-up 5,600 Units 1100 + acres
  • 6. ATLANTA BELTLINE TRANSIT BUCKHEAD I-85 Atlanta Memorial Park I-75 • 22-mile Transit Loop with 4 new Peachtree Creek Park potential connections to existing Ardmore Park MARTA service. Waterworks Piedmont Park North Woods Expansion • 45 proposed stations • Modern streetcar or light rail transit MIDTOWN Westside Reservoir Park Historic Fourth Ward Park Maddox Park Washington Park I-20 Oakland Cemetery Enota Park Glenwood I-20 Grant Park W. Park DOWNTOWN Southside H.S. Park Four Corners Stanton Park Park Murphy Crossing Park Boulevard Crossing Park Hillside Park I-75/85
  • 7. ATLANTA BELTLINE PARKS & TRAILS • Emerald necklace: Up to 1,300 acres of new parks and greenspace Colonial I-85 I-75 Park • Many on former industrial lands Peachtree Ck Park Waterworks Tallulah Park Ansley Sq. • 33 miles of trails alongside transit Park Piedmont Park Expansion • Alongside transit • Spur trails connecting surrounding neighborhoods to the BeltLine Historic 4th Westside Ward Park Reservoir Park Maddox Park Enota Park I-20 Glenwood W. Park Stanton/ Southside H.S. Hillside Four Corners Park Park Intrenchment Lawton St Park Woods Park Boulevard Murphy Crossing Park Crossing Park I-75/85
  • 8. BELTLINE CORRIDOR Development Process • 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 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
  • 9. ATLANTA BELTLINE PLANNING Land Use and Connectivity 10 Subarea Master Plans • Promote improved connectivity • Promote denser developments • Promote improved livability
  • 10. ATLANTA BELTLINE CORRIDOR & TRANSIT Progress to Date • 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
  • 11. GREENSPACE & TRAILS Progress Update • 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
  • 12. WESTSIDE PARK & RESERVOIR 300 Acre addition to Atlanta Park System • 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
  • 13. HISTORIC FOURTH WARD PARK • 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
  • 14. HISTORIC FOURTH WARD PARK Rendering
  • 15. HISTORIC FOURTH WARD PARK Under Construction
  • 17. Affordable Housing Program August 17, 2010 Northside BeltLine Trail, completed April 2010
  • 18. 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
  • 19. 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
  • 20. Financing August 17, 2010 Northside BeltLine Trail, completed April 2010
  • 21. BELTLINE FUNDING Anticipated Funding Sources Capital Costs Amount Activity (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
  • 22. 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. Tax Revenue 2. As new development happens 2 3 because of the BeltLine, additional tax revenue is generated. This additional tax revenue helps pay for 1 the BeltLine. 3. After 25 years, the City, County and Public Schools receive all tax revenue, which is higher than it would have 2005 2030 been without the BeltLine.
  • 23. PRIVATE DEVELOPMENT • Over 50 projects complete or underway within TAD. - 9,000 new residential units - 700,000 SF of new commercial space
  • 24. 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
  • 25. James Alexander Senior Project Manager Atlanta BeltLine, Inc 404.588.5472 jalexander@atlbeltline.org