Located next to the future terminus of the Broadway Subway, an incoming bus loop, and the Arbutus Greenway mixed-use walking and cycling path — this is the first development under TransLink’s Real Estate Development Program.
Benefits of the redevelopment projects include the generation of revenue through long-term ground leases, increased transit ridership, and more.
The bold 10-year initiative establishes a goal to execute 20 joint development agreements by 2032, strengthening coordination with local jurisdictional partners and streamlining processes for private development partners.
The program allows affordable housing developers to partner with transit agencies to seek funds for projects that reduce greenhouse gas emissions and provide benefits to disadvantaged communities.
Community-focused investments like TOD are integral to the Biden-Harris Administration’s priorities, including connecting communities and reducing the climate impacts of transportation.
The funds will support comprehensive planning efforts that help connect communities, improve access to public transportation and affordable housing, and promote equitable delivery of benefits to underserved communities.
The agreement marks MARTA’s second project working with a private developer in the Perimeter market to provide direct transit access to a building.
Carmen Taveras has more than 20 years of diverse real estate experience managing real estate portfolios and land development.
Highlighted a distinct lack of support from the state when it comes to transit funding — citing Bi-State Development as a local example.
The 37-mile River LINE right-of-way includes 21 station areas across 15 municipalities.
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