Owner TPA Residential submitted plans to the Development Authority of Fulton County, to redevelop and repurpose an unpermitted landfill and blighted area into a mixed-use development located at 1104 Avondale Avenue SE. Because of the blighted conditions and remediation needed, the owner has requested funds to assist in covering the extraordinary development costs.
The Development Authority of Fulton County deferred action on the $80 million request for financing at their November 15, 2021 meeting. According to City actions, the request will be discussed at the next regular meeting scheduled for December 7.
According to City documents, the mixed-use development plans include 215 apartment units and 63 rental townhomes, with approximately 750 square feet of street-level commercial/retail space. The apartment units contain 35 studios, 134 one-bedroom, 44 two-bedroom, and 2 three-bedroom. Additionally, 15% of the units will be devoted to providing affordable housing for r households earning at or below 80% of the Area Median Income (AMI) which equates to 43 affordable units and complies with the City of Atlanta’s Inclusionary Zoning requirements for properties in the BeltLine Overlay District.
As reported by What Now Atlanta in February, according to the application, the request for the $80,000,000 is due to the costs associated with a site that contains an expansive, unpermitted landfill, equaling more than half the 8-acre site and a decommissioned City of Atlanta domestic water chlorination facility, which would need to be demolished and the area decontaminated. Other expenditures anticipated by the development include:
- Proper removal/remediation of unpermitted highly contaminated landfill – $7,000,000
- Develop blighted, contaminated parcel along the path connecting the eastern and southern portions of the Boulevard Heights neighborhood to the BeltLine – $500,000; and high-end landscaping, hardscaping, lightening – $500,000
- One-year lost revenue to the EDO and 10-year impact as a result of setting aside 43 affordable units for the 10-year incentive period – $292,000, and $3,347,452, respectively
If approved next month, the anticipated economic impact of the project would be $134 million and would create six permanent jobs and an additional 500 temporary construction jobs.
