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Developers are betting on the Atlanta Beltline, rail or no rail
Transit, shmansit. With or without rail, the Atlanta Beltline is a project that is proving its transformative power through the many finished, in-construction and planned projects along the route. Read about it in a nice article in the Atlanta Journal Constitution today.
It’s a good read for anyone who needs proof of the ability of alternative-transportation infrastructure to spur urban development. From the article:
At least 88 projects, from retail outlets to apartment complexes, along the Beltline were completed or are in the works since 2007. More are said to be in development, and investors seem eager to trade on the project’s cachet when promoting their deals, regardless of the fate of the transit portion.
“Even if the Beltline doesn’t go any further and is just a linear park with a jogging trail and a bike trail, then it’s already a fantastic amenity. That alone is enough for us to bet on it,” said Tim Schrager, a principal with Perennial Properties, which is building a 227-unit apartment complex on the Beltline’s eastern flank.
Beltline photo by Instagram user Btiatl
It’s good to hear that development potential isn’t riding on the prospect of light rail construction. Expectations of seeing that even in the next decade are probably overly optimistic.