Atlanta Beltline Inc. (ABI) is pursuing the construction of a mid-rise multifamily development at 350 Chappell Road. The Atlanta Business Chronicle reports the $62 million project includes 218 apartments, all of which will be rented at prices considered affordable for households earning between 30% to 80% of the area median income. It has been awarded 54 project-based rental assistance vouchers by Georgia’s Department of Community Affairs.
ABI acquired the 6.3-acre site in June 2023 for $4 million. The property is close to MARTA’s Bankhead station, Shirley Clarke Franklin Park and the Beltline’s Westside Trail. It was developed at one point with walk-up apartments that were torn down at least a decade ago.
The project was awarded 4% low-income housing tax credits by the state community affairs department. It will also be supported by the Beltline Tax Allocation District Increment Fund and tax-exempt bonds from Invest Atlanta.
The development is expected to be completed sometime in 2028.
The post Atlanta Beltline Advancing 218-Unit Affordable Apartment Project appeared first on Connect CRE.
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