Housing Opportunity 2014 - Responsible Reuse: Promoting Sustainable Placemaking and Revitalization, James Alexander
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Housing Opportunity 2014 - Responsible Reuse: Promoting Sustainable Placemaking and Revitalization, James Alexander

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James Alexander, Atlanta Beltline, Inc.

James Alexander, Atlanta Beltline, Inc.

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  • Neighborhood park in Peoplestown <br /> Approximately 8 acre site <br /> History (girl) <br /> Neighborhood and Park pride <br /> ABI developed a plan that used neighborhood plan as the basis (added new ideas and scrubbed for feasibility) <br /> First park to start construction <br /> Neighborhood park, Amenities, energy neutral park. <br /> Usage <br /> Post delivery neighborhood programming (baseball field, safety) <br /> Crime <br />
  • Neighborhood park in Peoplestown <br /> Approximately 8 acre site <br /> History (girl) <br /> Neighborhood and Park pride <br /> ABI developed a plan that used neighborhood plan as the basis (added new ideas and scrubbed for feasibility) <br /> First park to start construction <br /> Neighborhood park, Amenities, energy neutral park. <br /> Usage <br /> Post delivery neighborhood programming (baseball field, safety) <br /> Crime <br />
  • Neighborhood park in Peoplestown <br /> Approximately 8 acre site <br /> History (girl) <br /> Neighborhood and Park pride <br /> ABI developed a plan that used neighborhood plan as the basis (added new ideas and scrubbed for feasibility) <br /> First park to start construction <br /> Neighborhood park, Amenities, energy neutral park. <br /> Usage <br /> Post delivery neighborhood programming (baseball field, safety) <br /> Crime <br />
  • Story <br /> Connect to the surrounding neighborhood <br /> No gate <br /> Sidewalks <br /> HOA manager <br /> Strengthen surrounding neighborhood <br /> Police station <br /> Home sales <br />
  • Story <br /> Connect to the surrounding neighborhood <br /> No gate <br /> Sidewalks <br /> HOA manager <br /> Strengthen surrounding neighborhood <br /> Police station <br /> Home sales <br />

Housing Opportunity 2014 - Responsible Reuse: Promoting Sustainable Placemaking and Revitalization, James Alexander Housing Opportunity 2014 - Responsible Reuse: Promoting Sustainable Placemaking and Revitalization, James Alexander Presentation Transcript

  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 1 // Responsible Reuse: Promoting Sustainable Placemaking James Alexander May 15, 2014
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 2 // Outline • Atlanta BeltLine introduction • Repurposing land with infrastructure • Creating a framework for redevelopment • Lofts at Reynoldstown Crossing
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 3 // Atlanta Railroad Legacy
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 4 // Location
  • // Evolution
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 6 // Components 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 Transit 22-mile loop
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 7 // Financing Total Program = $4,393 billion $ values in millions
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 8 // Progress • Parks: 3 new parks, over 200 acres acquired • Trails: Over 7 miles; 2 more in development • Transit: Completed Tier 1 EIS • Affordable Housing: 500+ units • Economic Development: 3 to 1 ROI, 9,000+ units.
  • 05/30/14 Atlanta BeltLine // © 2014 Page 9 // ROI - Eastside Trail • $13 million post purchase project cost (design + construction) with $5 million contribution from private donors • $775 million in new private development within half a mile of this segment of the Atlanta BeltLine
  • 05/30/14 Atlanta BeltLine // © 2014 Page 10 // Eastside Trail – Before Photo credit: Ryan Gravel
  • 05/30/14 Atlanta BeltLine // © 2014 Page 11 // Eastside Trail – After Photo credit: Ryan Gravel
  • 05/30/14 Atlanta BeltLine // © 2014 Page 12 // Eastside Trail – Before Bridge (1906) at Ponce de Leon Photo credit: Ryan Gravel
  • 05/30/14 Atlanta BeltLine // © 2014 Page 13 // Eastside Trail – After Bridge (1906) at Ponce de Leon Photo credit: Ryan Gravel
  • 05/30/14 Atlanta BeltLine // © 2014 Page 14 // Eastside Trail – Before Photo credit: Ryan Gravel
  • 05/30/14 Atlanta BeltLine // © 2014 Page 15 // Eastside Trail – After Photo credit: Ryan Gravel
  • 05/30/14 Atlanta BeltLine // © 2014 Page 16 // ROI - Historic Fourth Ward Park • $50 million total project cost with $17.5 million contribution from private donors • $400 million in new private development within a block of park
  • 05/30/14 Atlanta BeltLine // © 2014 Page 17 // Historic Fourth Ward Park – Before
  • 05/30/14 Atlanta BeltLine // © 2014 Page 18 // Historic Fourth Ward Park – After
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 19 // Land Use and Zoning • 10 Subarea Master Plans • Land use • Transportation • Parks • Proactive rezoning
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 20 // Affordable Workforce Housing Origins •Concerns about social impacts and gentrification •Non profit developers and policy groups advocated to City Council for an Affordable Housing Trust Fund •Council included Trust Fund in TIF/TAD creation legislation Legislative Framework •15% of each TAD issue dedicated to Trust Fund •5,600 unit goal over 25 years •BeltLine Affordable Housing Advisory Board
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 21 // Affordable Workforce Housing Progress •Capitalized and committed an $8.8M Trust Fund •Downpayment Assistance • 85 closings •Incentives • 165 units committed funding •Acquisition • Acquired 30 units at Lofts at Reynoldstown Crossing. •Land Trust Collaborative formed
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 22 // Lofts at Reynoldstown Crossing • Previously failed condominium development. • ABI bought out of receivership • Completed construction and remarketed property to affordable homebuyers • Placed all units under contract in one day through a “drawing.” • Three Atlanta Land Trust Collaborative units for first responders and teachers • 1.5 acres of land for 2nd phase
  • 05/30/14 Confidential // Atlanta BeltLine // © 2012 Page 23 // Lofts at Reynoldstown Crossing Challenges: •Foreclosures are black boxes •Former FDIC owned property •Qualification and closing •HOA turnover •Timeframe Numbers: •TDC = $4.4M •Average unit price of $150K/unit • $64K DPA; $86K 1st Mortgage • Monthly payment less than $1,000 per month •$3M acquisition; $700K construction; $300K commissions •$650K invested in surrounding land