Denver 9/27 James Alexander


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Presentation from Partners in Innovation Policy Forum in Denver, CO on September 27, 2010.

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Denver 9/27 James Alexander

  1. 1. Atlanta BeltLine Partners in Innovation September 27, 2010 Northside BeltLine Trail, completed April 2010
  2. 2. Atlanta BeltLine Overview
  4. 4. WHERE IS THE ATLANTA BELTLINE? • Inside the Perimeter ATLANTIC STATION • 2 – 3 miles from Downtown Core
  5. 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. 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. 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. 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. 9. ATLANTA BELTLINE PLANNING Land Use and Connectivity 10 Subarea Master Plans • Promote improved connectivity • Promote denser developments • Promote improved livability
  10. 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. 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. 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. 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
  15. 15. HISTORIC FOURTH WARD PARK Under Construction
  16. 16. TRAILS West End Trail
  17. 17. Affordable Housing Program August 17, 2010 Northside BeltLine Trail, completed April 2010
  18. 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. 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. 20. Financing August 17, 2010 Northside BeltLine Trail, completed April 2010
  21. 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. 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. 23. PRIVATE DEVELOPMENT • Over 50 projects complete or underway within TAD. - 9,000 new residential units - 700,000 SF of new commercial space
  24. 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. 25. James Alexander Senior Project Manager Atlanta BeltLine, Inc 404.588.5472
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