FOR IMMEDIATE RELEASE
January 28, 2022
MARTA ANNOUNCES
SOLICITATION FOR MIXED-INCOME HOUSING TRANSIT-ORIENTED DEVELOPMENT AT BANKHEAD
STATION
Westside Atlanta Growth
Creates Unique Development Opportunity Close to Transit
ATLANTA – The
Metropolitan Atlanta Rapid Transit Authority (MARTA) announces a
Transit-Oriented Development (TOD) Request for Proposals (RFP) for Bankhead
rail station, the western terminus of the Green Line. The State of Georgia’s
recent $6 million allocation to help transform the station, and tech giant
Microsoft’s decision to build one of its largest hubs nearby illustrate the
economic development potential of the area, and the important role transit
plays in that growth.
The Bankhead TOD
will be located on just under five-and-a-half acres of land, along with
air-rights above the station itself, which sits at 1335 Donald Lee Hollowell
Parkway. The rail station is adjacent to the Microsoft proposed 90-acre campus
development and is a half-mile southeast of the newly opened Westside Park.
Other nearby development includes the Atlanta BeltLine Westside Trail and the
Proctor Creek Greenway in the historic Grove Park community.
To further support
the type of mixed-use density that defines successful TODs, MARTA is seeking a
zoning change for the station, from Mixed Residential Commercial District 1
(MRC-1), Heavy Industrial District 2 (I-20), and Single-Family Residential
District (RA4), to Mixed Residential Commercial District 3 (MRC-3). This aligns
with the zoning applied to the Microsoft property and the zoning presented in the
City of Atlanta’s Transit-Oriented Development Plan, which recommends that nine
of MARTA’s rail stations undergo a proactive rezoning to support higher density
at transit stations. Atlanta City Councilmember Dustin Hillis sponsored the
rezoning legislation in September 2021 and MARTA has met with various community
groups and Neighborhood Planning Units (NPUs) in the area as part of the
rezoning process with the anticipation of going before the Atlanta City Council
for approval in March.
“Bankhead Station
is in a part of Atlanta that is undergoing significant growth and land use
changes. Our rezoning efforts with the City and the station’s location within a
Federal Opportunity Zone make this TOD an incredible opportunity to provide
affordable housing and other community amenities convenient to transit,” said
MARTA Interim General Manager Collie Greenwood.
The Federal
Opportunity Zone Program supports the stimulation of economic development and
job creation by incentivizing long term investments in low-income
neighborhoods. Bankhead Station’s location within one of Atlanta’s 26 such
zones, combined with MARTA’s commitment to providing a deeper affordability
ensures that 30 percent of residential units included in the TOD be made
available for people earning 80 to 120 percent of the Area Median Household
Income by Zip Code. The other rail stations located in Federal Opportunity
Zones include Five Points, Vine City, Ashby, H.E. Holmes, West End, and
Lakewood/Fort McPherson.
In response to
community concerns over displacement caused by new growth in the region, MARTA
and Morgan Stanley Community Development Finance and its Partner the National
Equity Fund established a $100 million fund to preserve existing affordable
units around heavy rail stations and the Atlanta Streetcar. Further, to bring
more affordable housing and Federal Opportunity Zone capital to bear on new
ground-up development of TODs, MARTA recently partnered with Goldman Sachs on a
$100 million affordable housing TOD initiative. Developers proposing on the
Bankhead Station TOD will have more options of capital sources for their
proposed projects.
“This allows MARTA
to deliver the housing affordability desired by the surrounding community and
meet the City of Atlanta’s affordable housing goals as well as meet and exceed
our own,” added Greenwood. “We are eager to see the proposals for this unique
site as we undergo our own transformative work planned for Bankhead Station.”
The Bankhead
Station transformation project is part of MARTA 2040, a decades-long several
billion-dollar transit improvement and expansion program. The project includes
a platform extension from two-car to eight-car capacity (matching the capacity
of the other 37 rail stations), and other modifications necessary to
accommodate the subsequent increase in rail cars and customers. Last year the
Georgia General Assembly approved a $6 million appropriation toward the
transformation of Bankhead Station, in support of the economic development
taking place in surrounding areas.
As with all its
TODs, MARTA will undertake a robust community engagement process to share
information about the project and upcoming station transformation. The Bankhead
TOD RFP process will span the next few months, with a pre-proposal conference
set for Feb. 2, question and answer session scheduled for Feb. 9, and proposals
due April 13.
Learn more about
all of MARTA’s transit-oriented development at MARTA
(itsmarta.com).
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