ATLANTA — The groups that operate and develop the BeltLine said Thursday that they had purchased 31 acres of land in Bankhead that will be used for affordable housing and other development.
The land was purchased at 425 Chappell Road NW, south of the Bankhead MARTA station and Maddox Park.
The site was once home to the Chappell Forest Apartments, which were leveled last year.
It will take some time for development to take shape. The groups said they would "conduct extensive community engagement to incorporate the desires and vision of adjacent residents and local businesses, culminating in a Request for Proposals to invite developers to submit proposals to redevelop the site.
The purchase was strategically located just to the west of a planned segment of the Westside Trail portion of the BeltLine. It is also situated south of where Microsoft is planning to build a new campus in Grove Park.
The BeltLine groups said they purchased the land for $25.6 million, which they called a 30% reduction from its last appraisal, from Brock Built Homes.
Gentrification has been a major concern in the area, and Brock is among the companies developing on the Westside, including with a 61-townhome community called Ten29 West where units are going for about $500,000.
The sale was characterized as a "donation from the Brocks to further the goal of an affordable and inclusive Atlanta."
Atlanta BeltLine, Inc. and the Atlanta BeltLine Partnership described the purchase as their "largest transaction to date in support of affordable housing."
“We are pleased to announce that Atlanta BeltLine, Inc. has purchased this property on Chappell Road, in one of Atlanta's Westside communities,” Mayor Keisha Lance Bottoms said in a statement. “This historic neighborhood will be enhanced with the creation of inclusive and affordable development."
BeltLine, Inc. CEO Clyde Higgs vowed to "work alongside surrounding neighborhoods to ensure outcomes that benefit residents while furthering connectivity and economic impact within the City of Atlanta.”
Brock executive Adam Brock said: “The site is located amongst vastly different worlds: Microsoft’s future corporate campus, the Westside Park – one of the City’s greatest amenities – and one of the most disenfranchised communities in Atlanta. We were intentional in selecting Atlanta BeltLine, Inc. and are proud to see the site be put into the hands of an organization with a commitment to making Atlanta accessible and inclusive to all of its residents.”