Atlanta Beltline approves $172 million to accelerate affordable housing and trails

“Supported by our new budget, we will exceed our affordable housing goals, accelerate the pace of trail work, and invest in more economic opportunities for all,” he said in a statement.

The funding means the Beltline is on track to exceed its 30 percent affordable housing goal and finalize land purchases, primarily for the Northwest Trail, officials say.

Beltline Tax Allocation District (TAD) funds represent 40% of the FY 2025 budget, or $69 million. In addition, 29% of the budget, or $49 million, comes from philanthropic sources. The Beltline Special Services District makes up 18 percent of the budget, or $32 million. Grants from federal, state and local agencies total 11 percent, or $20 million, officials said.

Nearly a third of all funds in the Beltline Tax Allocation District are earmarked for affordable housing.

Credit: HYOSUB SHIN / AJC

Credit: HYOSUB SHIN / AJC

The majority of the Beltline affordable housing budget represents acquisitions, due diligence and pre-development, and the budget will cover the cost of maintaining and restoring 86 acres of land. There are 488 new affordable housing units in the Beltline development pipeline for 2024 and 626 planned for 2025.

Officials highlighted significant developments along the trail, including the 56-unit Stanton Park Apartments project in Peoplestown, 160-unit Englewood Manor for elderly Chosewood Park residents and the 54-unit Ralph David House development in Reynoldstown. affordable.

The urban redevelopment program previously announced it would complete 16.3 miles of continuous trail before the city hosts eight FIFA World Cup matches in 2026. By June 2026, 85% of the main trail will be completed, or 17.5 miles, according to officials.