ATLANTA — Atlanta BeltLine has approved a $172 million fiscal year 2025 budget.
On Thursday, the City of Atlanta announced that the board of directors of Atlanta Beltline, Inc. and Invest Atlanta approved the largest budget to date. According to a post on X, formerly known as Twitter, the budget includes funding that will allow the BeltLine to exceed its affordable housing goal of 5,600 units by 2030.
It will also speed up trail construction and land acquisition for the project to meet the planned completion of the 22-mile corridor by the end of 2030.
“This is a historic and exciting time for Atlanta BeltLine as we get closer to completing the trail while meeting important goals,” said Atlanta BeltLine, Inc. President and CEO Clyde Higgs. “For us, the BeltLine is all about the people and the experience. The people-powered project is a destination for cultural connection, quality of life and economic equity. Supported by our new budget, we will exceed our goals for affordable housing, accelerate the pace for trail work and invest in more economic opportunities for all.”
The budget is a 12% increase over the fiscal year 2024 budget. The top three areas of the fiscal year 2025 budget are design and construction (49%), real estate (23%) and affordable housing (12%).
Atlanta BeltLine has four primary funding sources:
- Tax Allocation District (TAD) funds make up 40% of the FY25 budget ($69 million)
- Philanthropic sources make up 29% of the budget ($49 million)
- BeltLine’s Special Service District (SSD) is 18% of the budget ($32 million)
- Federal, state and local agency grants are 11% ($20 million)
Affordable housing represents 29% - the largest portion of funding - of all planned spending uses of the TAD funds. Currently, the BeltLine has 488 new affordable housing units planned for 2024 and 626 for 2025.
In fiscal year 2025, the BeltLine will have 13 active construction projects, including those mentioned above.
