Invest Atlanta has approved the 2017 budget for Atlanta BeltLine, Inc. (ABI), which will include nearly $70 million for the project and other related initiatives, according to a news update from Atlanta Loop.
The budget breaks down as follows: $26.6 million for parks and trails; $24.7 million for real estate asset management; $7.1 million for transit/transportation; and $5.8 million for salaries/benefits. Though the ABI initially approved the budget, it needed a final stamp of approval from Invest Atlanta.
In addition to the budget, the ABI board approved three series of bond issues, which include: $40 million for capital projects; $20 million for debt repayment; $7.5 million for affordable housing; $2.5 million for economic development; and $2.2 million for affordable housing.
Atlanta real estate and the BeltLine
The BeltLine project has inspired a real estate renaissance in many Atlanta communities, explained Drew Jackson, a Realtor with Keller Williams Realty Intown Atlanta.
“The Beltline is still the hottest area right now,” he said. “Whenever you’re talking with clients, one of the first questions on their mind is ‘How close can I be to the Beltline?’ And as the Beltline continues to expand, the questions then turn to what neighborhoods will be affected next.”
Indeed, one of those communities, West End, was spotlighted earlier this year as Atlanta’s hottest residential housing market in 2016, with its close proximity to the housing market being a key reason for its popularity.
Photo Credit: Timothy J Carroll, Creative Commons Attribution 2.0 Generic, https://commons.wikimedia.org/wiki/File:Beltline_Artwork.jpg