Atlanta BeltLine, Inc. (ABI) has released a Request for Proposals (RFP) for developers to submit proposals for Phase II of 890 Memorial Drive, known as the Lofts at Reynoldstown Crossing.
This former warehouse was in the process of being renovated by a private developer when the combination of the economic downturn and damage from the 2008 tornado stalled the project. It was acquired in 2011 by Atlanta BeltLine, Inc., and work was completed on 29 condominium units and one commercial space. Twenty-eight of the units were sold as workforce housing in 2012 to families earning under $69,000.
Following the successful development of Phase I, ABI is looking to begin the next phase of construction. There are several goals a developer must meet, including:
- Housing with a minimum of 40% of the units meeting the affordability requirements outlined
- A commitment and feasible approach towards long-term affordability exceeding 50 years with public or community control over the decision to convert affordable workforce units into unrestricted units
- Pedestrian-friendly design of all street and Atlanta BeltLine corridor frontages in keeping with the BeltLine Overlay District
- A project design and use of the site which activates the area through interactive Memorial Drive and/or Chester Avenue frontages