The City of Atlanta and a group of investors have purchased another plot of land for the city's Beltline project -- a loop of open spaces, rail lines, and housing and retail developments. This is the first plot purchased in more than a year.
"In the first real progress in more than a year to build Atlanta's proposed Beltline, officials announced Tuesday that a unique joint venture that will include Atlanta, a developer and a host of investors will acquire a vital segment of the inner city loop."
"The deal would give the city complete control over development on 65 acres of land that stretches 41/2 miles through the tree-lined neighborhoods of northeast Atlanta. Atlanta would allow some level of dense development, but not nearly the amount proposed by the former owner."
"The northeast section is the most contentious of the Beltline's 22-mile loop of trails, transit and green space around the inner city. The segment is flanked by some of the city's hottest housing markets, as well as by many affluent neighborhoods where residents kept up their homes during an era when many others abandoned the city."
Read the full story: City closes in on piece of Beltline
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