Two century-old brick warehouses off Murphy Avenue in Oakland City, still sporting the bold "Cut Rate Box Co." and "Welcome to Atlanta" murals, are headed for a second act. Instead of getting knocked down, the buildings are being folded into a new mixed-use project called Oakland Exchange. The Atlanta BeltLine and Urban Realty Partners have closed on a deal for the roughly 6-acre site, with plans to convert the historic structures into 126 loft apartments and about 16,000 square feet of creative commercial space in Phase I. The plan also adds roughly 3,000 square feet of retail and restaurant space along a planned Oakland + Murphy connector trail, with a sizable affordability pledge baked into the deal.
Phase I: Warehouses to lofts and small-business space
As reported by The Atlanta Journal-Constitution, Phase I centers on the early-1900s three- and four-story brick buildings at 1088 and 1100 Murphy Ave SW. Those structures are slated to be retrofitted into 126 loft apartments and roughly 16,000 square feet of creative commercial space. Plans also carve out about 3,000 square feet of new retail and restaurant space that will face the Oakland + Murphy connector trail, a 1.3-mile spur that is expected to link the Westside Trail to the Oakland City MARTA station.
Funding and the affordability pledge
According to CityBiz, the financing is a mashup of public and private money. The package includes a construction loan from Ameris Bank, state and federal historic tax-credit financing through Enhanced Capital, GoATL funds, a mezzanine loan from the Community Foundation for Greater Atlanta and support from the BeltLine Tax Allocation District (TAD) Increment Fund. In return for that mix of subsidies, the developer has agreed to reserve 60 percent of Phase I units at 80 percent of area median income, including 30 percent that will be permanently affordable, with 5 percent at 60 percent AMI and 25 percent at 80 percent AMI. Another 35 percent of the units will be held at 80 percent AMI for 20 years, and a portion of commercial rents is slated to come in at roughly 20 percent below market.
Design partners and the master plan
Urban Realty Partners lists Kronberg Urbanists + Architects as the designer, Choate Construction Company as general contractor and LDG Consulting as construction manager for Oakland Exchange. The developer’s marketing materials describe a broader master plan that spans roughly five acres and could deliver tens of thousands of square feet of new space and more than 200 lofts. The team says the adaptive reuse approach will keep the warehouses’ heavy timber framing and oversized windows intact while layering in indoor-outdoor amenities and rooftop space to update the residential and retail areas. Those details are outlined on the project site and developer pages.
Where this fits in a shifting neighborhood
Oakland Exchange sits directly across Sylvan Road from Murphy Crossing, the BeltLine’s planned 20-acre project that has been marked by planning upheaval and delays. The warehouses are highly visible to MARTA riders traveling between downtown and Hartsfield-Jackson, so the makeover will be hard to miss. The Atlanta Journal-Constitution reports that BeltLine leaders see projects like this as part of their push to create or preserve 5,600 affordable units along the loop. Atlanta BeltLine CEO Clyde Higgs said the development "helps preserve historic buildings while expanding affordability" in nearby neighborhoods.
Timeline and next steps
Local coverage and project materials indicate that construction on the warehouses is already underway. Phase I is focused on the adaptive-reuse conversion, while two future ground-up phases are planned at 1066 Murphy Ave and 1135 Sylvan Road. As reported by WhatNow, the Oakland + Murphy connector trail is still in design, and leasing for the new retail bays is expected to target local small businesses once the shell spaces are built out.
What to watch
Developers and BeltLine officials say Oakland Exchange is meant to tie preserved industrial buildings into the growing Westside Trail economy while locking in deeper affordability than some nearby projects have offered. Urban Realty Partners and city partners are expected to roll out leasing details and community engagement plans as construction moves ahead. Neighbors and small-business owners will be paying close attention to how those below-market commercial spaces are priced and who gets to claim them.
