MARTA recently announced its plan to create “walkable developments” around its Arts Center station and Oakland City station. The dense, pedestrian-friendly villages appeal to corporations when they are looking for a location for operations. If workers can easily walk to public transit, it saves time and money for both the worker and the corporation. Similar to the Lindbergh Center station, MARTA will sell or lease the property at the rail stations to developers who will build villages that attract transit riders. MARTA hopes to create such communities for 11 of its 38 stations.
Deals are complete or nearly finished already for King Memorial, Avondale and Edgewood/Candler Park stations. Columbia Ventures and Decatur Downtown Development Authority are joining together to build apartments, condos, affordable senior housing units and retail, and possibly a grocery store in the area surrounding the Avondale station. Invest Atlanta and Columbia Ventures are redeveloping the Edgewood/Candler Park station into about 400 apartments, 20,000 square feet of cultural space, 10,000 square feet of retail and a public park. Final negotiations for both stations are underway and construction is expected to begin by early next year.
From the Tudor-style neighborhoods of Avondale Estates to the stoic corridors of the King Center, from young Brookhaven to historic Candler Park, developers are spending millions of dollars and swallowing up dozens of acres at or near MARTA stations.
It marks a shift in Atlanta development as companies look to save money and attract key workers by building offices and homes near transportation hubs.
MARTA, the transit authority for metro Atlanta, is quietly becoming a player in the real estate world, and it has its excess parking to thank. In the past few months, the agency has pushed forward with plans to develop under-used parking lots at three stations—King Memorial, Avondale, and Edgewood/Candler Park—into mixed-use commercial and residential buildings. And MARTA expects to secure at least two more such deals by early next year.
MARTA is again pushing forward in its efforts to maximize the potential of its intown parking lots. Columbia Ventures, a developer with roots in the Edgewood neighborhood, will build a mixed-use node on a five-acre parcel surrounding the Edgewood-Candler Park MARTA Station, Invest Atlanta announced today. The economic development authority issued a request for proposals in March, after identifying the Edgewood-Candler Park Station as one of 10 MARTA transit hubs ripe for redevelopment. Columbia Ventures’ experience of building in Edgewood apparently went a long way; the company has built more than 400 housing units across Edgewood — including senior housing, market-rate housing,
affordable housing and townhomes — over the last decade.
Invest Atlanta has selected Columbia Ventures LLC to serve as the developer of MARTA’s transit-oriented development project on five acres surrounding the Edgewood/Candler Park station.
The Atlanta-based company has worked in the neighborhood for a decade, building more than 400 housing units including market-rate and affordable housing.
MARTA’s board of directors has unanimously agreed to begin negotiations with the Decatur Development Authority to revitalize the area around the Avondale station.
The board authorized the negotiations on March 6.
MARTA and DDA have selected Atlanta-based firm Columbia Ventures as the project’s developer. Lyn Menne, Decatur’s Assistant City Manager in charge of Community and Economic Development, said the city recommended Columbia Ventures for the project.