Atlanta Beltline, Inc. launched its newest development push at Wednesday’s 2025 State of the Beltline: A $2 million fund to pay for locally-led commercial development along the popular paved path.
The grant pilot program called the Local Developer Incentive Fund will offer funds from $150,000 to $500,000 for developers willing to dedicate a chunk of their commercial space to below-market rent for at least 10 years. The fund is supported by 2016 economic development bond proceeds.
Atlanta Beltline, Inc. President and CEO Clyde Higgs announced the fund at the annual State of the Beltline at the Eastern, hosted by the Council for Quality Growth – Higgs is also the 2025 chair of the nonprofit. About 300 people joined the event to hear about the Beltline’s progress and project updates.
“Rent continues to be a major issue for small business survival around the city and on the Beltline,” ABI Vice President of Economic Development Kelvin Collins said. “We believe we’re in the position to begin to make thoughtful investments in solving for rent increases.”
New and recently completed projects seeking commercial tenants can apply for the funds, as long as they’re in the Beltline corridor and are committed to affordable leases for part of the space. The tenants have to be small businesses, too – they must employ 20 or fewer people and bring in less than $1.5 million a year.
CEO Clyde Higgs said this is part of an effort to frame the trail as an “economic development project and engine.”
“Yes, it feels like a trail to most folks, but we’re more than that,” Higgs said.
The Beltline is an economic juggernaut. According to ABI, since its creation, the paved path has created over 26,000 permanent jobs and generated an almost $10 billion economic return. But it creates a challenge.
“We all love the Beltline, but we’re getting the highest rents on the Beltline right now – not Buckhead, not the perimeter, right here on the Beltline,” Higgs said. “So we need to make sure that we are preserving the culture, the legacy of Atlanta.”
Atlanta Beltline, Inc. has invested heavily in some legacy solutions. Higgs said the organization has already completed 76 percent of a promised 5,600 units of affordable housing by 2030. Now, the Beltline is on track to create more than 7,000 affordable housing units by the end of the decade.
Affordable housing keeps legacy residents from getting pushed out of their homes and historic communities of color, especially as Beltline-encouraged development makes areas like the Westside and Southside more expensive. But it’s only one piece of the “legacy community” puzzle.
“As we think about legacy residents remaining in place, we want to ensure that they have the services that they’ve come to appreciate and need in order to have a great quality of life,” Collins said.
That’s where the businesses come in. The fund will support a variety of commercial businesses, from restaurants to retail and everything in between. In the long run, Collins said ABI wants to ensure small businesses can stay in their neighborhoods and get long-term support.
Developers will also be able to use the funds for different needs, like lease terms and the cost of building out a space. Collins said it’s a way to fill the “feasibility gap” between what developers expect a small business to afford, versus what it can actually pay.
“If you have a project that’s in development and you have a financial gap that you’re looking to fill, we want to use this investment to fill that gap,” Collins said. “In return, we’re seeking affordability commitment.”
For the pilot program, developers will be able to propose their own types of “affordability solutions” that they find most suited for their project. In turn, the Beltline will provide funds and operational support from the Atlanta Beltline Business Solutions Office.
“We’re proving that transformative development and community preservation aren’t mutually exclusive,” Higgs said. “We want to ensure that residents and visitors alike experience the authentic, locally-owned businesses that represent the true spirit of our city.”
The application is available online now.
“We want to ensure that residents and visitors alike experience the authentic, locally-owned businesses that represent the true spirit of our city.”
Nope, no one who wants to stay out of Jail wants what “Atlanta” has been previously known for. One of the former Mayors spoke of what Atlanta was known for. Her words were correct.
But if you mean this new co-hort, then this is an Atlanta brand refresh and it’s a good thing. Buckhead is no longer rivaling the belt line values because the wealthy have simply moved out.
sorry but this is absurd and just another jobs creation program for well connected politicos ….. the Beltline has become an economic juggernaut , for sure , even after the Mayor and ABI decided to eliminate the very cornerstone of transit that was promised initially .And up to the minute actually .
Subsidizing rent for commercial spaces along the beltline is totally unnecessary and a near complete waste of taxpayer money .