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Published on October 15, 2024
New City Properties Proposes Two 20-Story Apartment Buildings Near Atlanta's BeltLine, Eyes Affordable Housing Needs

Atlanta's Historic Fourth Ward is on the cusp of further transformation with the recent proposal of two new 20-story apartment buildings by New City Properties. These high-rises, poised to bring 780 units to the community, will further shape the landscape near the BeltLine, a popular revitalization area connecting neighborhoods across the city. As reported by FOX 5 Atlanta, New City Properties' envisioned development seeks to leverage a plot on North Angier Avenue and Rankin Street, currently occupied by a parking lot and an older industrial building.

Consistent with the burgeoning demand for more housing in this part of Atlanta, the project has garnered a measure of local support, albeit with calls for affordable housing options. "I’m in general for it," Harris Osserman, a resident of the Fourth Ward, told FOX 5 Atlanta. "More people should live here. It could definitely support more development." Another local, Erin Kenney, echoed the sentiment, emphasizing the need for affordability to prevent displacement of current residents.

Councilman Amir Farokhi, whose district includes the Fourth Ward, has expressed support for developing this part of Atlanta in a sustainable manner. "This is right on the BeltLine where we want to see density in more housing," Farokhi stated to FOX 5 Atlanta. Underlying the residential increase is an intention to incorporate community spaces and retail, coupled with demands for a requisite percentage of the units to be affordable, in line with city policies.

The Fourth Ward district is not new to such development endeavors by New City Properties, a company that has previously reimagined the BeltLine's Kroger into 725 Ponce, and whose commitment to the area's revitalization has been an ongoing narrative. Their latest proposal also calls for ancillary improvements, such as three levels of underground parking and a pedestrian bridge, according to paperwork filed with the Beltline's Design Review Committee and reported by The Atlanta Journal-Constitution. New City Properties President Jim Irwin described the venture as "the final phase" of the larger mixed-use developments previsouly Shaped the area's skyline.

While the development remains in the proposal stages, with a city advisory panel set to review it, there's an evident momentum towards realizing these new additions to Atlanta's thriving Fourth Ward. Atlanta's overall push to revamp downtown and its contiguous neighborhoods continues to evoke a dialogue between developers, residents, and city officials about the best path forward for the city's growth and habitability. Amidst such changes, the quest for balance between development and affordability remains at the forefront of municipal considerations.

Atlanta-Real Estate & Development