Atlanta Beltline Announces Major Affordable Housing Wins in 2024 and $10.8M Wealth Increase for Low-Income Homeowners

569 affordable housing units delivered, surpassing annual goal by nearly 90% along with 250 residents supported by tax relief program founded in 2020

ATLANTA, Feb. 25, 2025 /PRNewswire/ -- Atlanta Beltline initiatives were instrumental in addressing Atlanta's affordable housing needs in 2024. The Beltline expects to surpass its housing goals in 2025 and is on course to exceed 2030 housing targets. In 2024, the Beltline delivered 569 affordable housing units, nearly 90% above its annual goal of 300 units.

With this achievement, the Beltline has reached 74% of its target to create or preserve 5,600 affordable housing units by 2030 in the Beltline Tax Allocation District (TAD). This is a key milestone that also contributes to helping Atlanta Mayor Andre Dickens achieve his citywide goal of building or preserving 20,000 affordable housing units by 2030.

"We're hitting our stride in making equitable development a reality," said Clyde Higgs, President & CEO at Atlanta Beltline, Inc. "By leveraging strong partnerships, long-term land planning and innovative funding strategies, we're on track not only to meet but likely exceed our 2030 goals. This work goes beyond numbers; it's about creating opportunities for Atlantans to live, thrive and build generational wealth within Beltline communities."

Key Milestones in 2024
This year's housing wins were driven by the Beltline's collaborative approach with partners such as Invest Atlanta, the City of Atlanta, Atlanta Housing, the Georgia Department of Community Affairs, the Development Authority of Fulton County, the Atlanta Urban Development Corporation, and others, comprehensive planning and diversified funding. Notable projects include:

• Englewood Senior Housing: The Beltline provided $2 million from the TAD Increment Fund to support 160 units of affordable rental senior housing.
• Englewood Multifamily Housing: The Beltline supported 160 affordable multifamily units, with a $3 million grant from the TAD Increment Fund.
• Residences at Chosewood Park: Construction began on 90 affordable housing units with a $2 million TAD Increment Fund Grant.
• Stanton Park Apartments: Fifty-six affordable units opened in Peoplestown with $2 million from the Atlanta Beltline Affordable Housing Trust Fund.
• 579 Garson Drive Development: This project won competitive Low-Income Housing Tax Credits (LIHTC) for a new affordable housing project to enable a 130-unit, mixed-use project in the South Buckhead/Lindbergh community on Beltline-owned land.
• 350 Chappell Road: The 6.30-acre site received LIHTC approval, allowing the 218-unit affordable housing project (30-80% AMI) to break ground in 2026.
• Oakland City Neighborhood: The Beltline provided $2 million via the TAD Increment Fund for the development of 41 permanently affordable homeownership opportunities in the Oakland City neighborhood.
• Mall West End Acquisition: The Beltline helped fund the acquisition of the 12-acre parcel – slated for a mixed-use affordable community – with $5 million in Beltline TAD Funds.

Land Planning and Preservation
The Beltline's land acquisition strategy continues to ensure the long-term affordability and equitable development of housing and commercial spaces. Noteworthy updates include:

• 356 University Avenue: Adjacent to Pittsburgh Yards, community engagement and master planning efforts are underway for this 14-acre site. With these efforts, the Beltline is currently in the planning phase and incorporating community feedback to shape the future of the site. The Beltline will rezone this site to I-Mix in 2025, allowing a mixed-use project to take shape.
• Murphy Crossing: The 20+ acre site adjacent to the Westside Trail continues to move forward with a community-driven process to continue master planning and entitling this site along with other pre-development activities. The Murphy Crossing site will be rezoned to I-Mix in 2025.
• 579 Garson Drive: Rezoning has been approved by the Atlanta City Council, paving the way for mixed-use affordable projects. It will bring 130-units of affordable housing and approximately 10,000 square feet of affordable commercial space to the South Buckhead/Lindbergh neighborhood. The project is currently in the design phase and is expected to break ground in the fourth quarter of 2025.
• 425 Chappell: This 30+ acre site completed a Development of Regional Impact submission to the Georgia Department of Community Affairs, required for large-scale developments that are likely to have regional effects beyond the local government jurisdiction in which they are located. This site has received rezoning approval from Atlanta City Council. Predevelopment activities for the first five blocks of development are underway, which will include approximately 150-units of for-sale housing and approximately 5,000 square feet of affordable commercial space.

The Beltline now has acquired 87 acres of land for development, solidifying its capacity to deliver transformative projects tailored to community needs by controlling land around the trail. With Beltline-owned land, the Beltline is guiding equitable, inclusive and sustainable development to ensure affordable housing goals are met and exceeded for Atlanta's residents and small businesses.

Property Tax Relief for Long-time Homeowners
The Beltline also remains committed to preserving housing affordability for long-time Atlantans. The Legacy Resident Retention Program (LRRP) has provided property tax relief to 250 homeowners in the Beltline's neighborhood stabilization areas along the western and southern Beltline corridor. It empowers low-income residents to stay in the communities they love, build generational wealth, and enjoy financial stability by covering the increase in property taxes above 2019 levels.

The innovative tax relief program supports residents who have owned their home since March 2017 and make no more than 100% of metro Atlanta's Area Median Income (AMI). It was launched in October 2020 and has become not only Atlanta's largest anti-displacement initiative but also one of its greatest tools for addressing wealth disparities. Based on the appraised property value in the Fulton County tax records, the home values for the 250 program participants have appreciated by a combined $10.8 million, calculated from the time each participant joined the program.

In 2024, the Atlanta Beltline Partnership, the organization providing foundational support for the Beltline through fundraising, programming, and advocacy, was named the winner of the 2024 HouseATL Housing Retention Hero Award, recognizing the LRRP and other initiatives to mitigate displacement.

"We want residents who lived in these neighborhoods for years before the Beltline was built to benefit from the economic opportunities, healthy living, and cultural vibrancy the Beltline creates," said Rob Brawner, Executive Director of Atlanta Beltline Partnership. "This program does that while also enabling those who are typically priced out by gentrification to hold onto a rapidly appreciating asset – their home – and build wealth."

Participants in the program for at least a year have seen their homes appreciate nearly $50,000 on average, with each receiving an average of $2,174 in property tax assistance – yielding an impressive return on investment of more than 20:1.

Some participants have seen their home values increase by more than $200,000.

"When I purchased my home for $125,000 in 2009, it was about creating generational wealth for my son. Now my home is valued in the mid-three hundreds, but rising property taxes had me worried about losing everything I worked hard for," shared Tanisha Corporal, Historic South Atlanta Homeowner and LRRP participant. "The Legacy Resident Retention Program isn't just helping me stay in my home – it's preserving an asset I can pass down to my son while allowing me to remain part of a community I've helped build. Having this support meant I could help pay for my son's college tuition and even transition into consulting work as a licensed social worker. It's not just about keeping my house; it's about preserving the legacy of our family and our community."

Another homeowner shared his experience with the program.

"At a certain point, I noticed that property taxes were doubling every year," said Ed Hall, a homeowner in the Beecher Donnelly neighborhood. He calls his participation in LRRP "both security and a sense of ease. Staying in this house feels like a real essential thing to me. This [program] is an opportunity to stay put."

The LRRP is made possible through the generous support of donors, including the Robert W. Woodruff Foundation, Georgia Power, Rocket Community Fund, Delta Air Lines, Bank of America, Tull Charitable Foundation, Google, Truist, Kaiser Permanente and the Annie E. Casey Foundation.

Brawner estimates nearly 2,000 residents are eligible for the program, and fundraising is ongoing to serve as many eligible residents as possible. For more information about the LRRP, to apply, or to learn how to support these efforts, visit beltline.org/retentionfund.

Additional Homeowner Resources Available
Through donor-funded workshops led by trusted partners, the Beltline also offers residents guidance on filing homestead exemptions, appealing property tax assessments, managing finances, and buying a home for the first time. Information on these workshops and additional resources can be found on the Resident Resource Page of the Beltline website.

Looking Ahead
"For many, the Beltline is synonymous with its 22-mile trail network," said Higgs. "But as we also transform the landscape of housing equity, we hope to be equally known for the affordable homes and thriving communities we create. As the Beltline goes into its 20th year, we remain dedicated in our commitment to advancing these goals with urgency, ensuring that Atlantans have access to affordable housing along the trail where the potential for economic opportunity is unlimited for all."

Added Higgs, "With momentum and continued support from key partners, the Beltline anticipates exceeding its 2030 housing goals. Beyond the numbers, the Beltline is focused on the real impact of its work - providing neighborhood stability through affordable homes, preserving communities and fostering opportunities along the Beltline."

Media images for these milestones are available here.

About Atlanta Beltline, Inc.
Atlanta Beltline, Inc. is the official implementation agency for the Atlanta Beltline. Its vision is to be the catalyst for making Atlanta a global beacon for equitable, inclusive and sustainable city life. As one of the largest, most wide-ranging urban redevelopment programs in the United States, the Atlanta Beltline is building a more socially and economically resilient Atlanta with our partner organizations and host communities through job creation, inclusive transportation systems, affordable housing and public spaces for all. For more information on the Atlanta Beltline, please visit www.beltline.org.

About Atlanta Beltline Partnership
Atlanta Beltline Partnership is the foundation that raises funds from the private sector and philanthropic community for the Atlanta Beltline and delivers programs to engage the public and empower residents of neighborhoods adjacent to the Beltline. Partnership programs promote health and wellness, awareness and understanding of the Beltline, volunteer support and advocacy, resident retention, and economic opportunity. For more information on the Atlanta Beltline Partnership, please visit www.beltline.org.

SOURCE Atlanta BeltLine, Inc.