Mayor Keisha Lance Bottoms announced the acquisition of the largest single purchase of land needed to close the loop on Beltline’s planned Southside Trail. According to the Atlanta Business Chronicle, the idea for the Southside Trail is to link the Westside Trail at University Avenue to the Eastside Trail at Glenwood Avenue, thus creating the longest pathway for the Beltline since the first trails opened in 2008, being 12 miles. Brian McGowan, president and CEO of Atlanta BeltLine Inc., hopes to open the trail sometime this year.
In other Atlanta real estate news:
- Mayor Bottoms also revealed a new housing initiative this week to preserve affordable housing in the city of Atlanta and to aid current lower-income residents avoid displacement. According to Invest Atlanta, this proposal includes three owner-occupied rehabilitation programs: Atlanta Heritage, Westside Heritage and Choice Neighborhoods Heritage, all which will offer residents forgivable loans for critical health and housing safety repairs.
- A planned Memorial Drive condominium building at 764 Memorial may begin construction soon as half of its units have already been sold, according to Curbed Atlanta. Located at the edge of Cabbagetown, unit prices start in the $200,000s and edge up into the $300,000s.
- PointOne Holdings Development and Batson-Cook Development Co. broke ground at a luxury apartment community in Newnan for their planned Village Square at Newnan Crossing. According to Multi-Housing News, it will be a 123-acre mixed-use development that includes walking trails, shopping, restaurants, apartments and townhomes. The property will feature a combination of studio, one-, two- and three-bedroom units.
- NY-based investor Broadtree Residential acquired Stone Ridge at Vinings for $58.3 million. According to CoStar News, the community offers 90 two-bedroom and 26 three-bedroom townhomes in addition to traditional apartments.