Atlanta Launches $15 Million Transit Oriented Development Fund
Atlanta will set up a $15 million fund to support transit-oriented developments (TODs). "Invest Atlanta announced Wednesday it was launching the city’s first-ever transit-oriented development fund, which will provide “below-market, patient capital to support the acquisition and predevelopment of workforce housing near MARTA stations, the Atlanta Streetcar, the Atlanta Beltline, and other modes of transit,” Sean Keenan reports for Curbed Atlanta. Supporters argue that by boosting these developments they can begin to address the issue of how many Atlantans car commute and the great distances they travel.
Keenan worries $15 million won't do much to address the problem. "When a single redevelopment project like the Hotel Clermont, as just one example, costs nearly twice as much as the transit-oriented development fund is worth, some might wonder if Invest Atlanta’s new initiative is but a stepping stone," Kenan points out.