By Maria Saporta
Atlanta BeltLine Inc. has reached an agreement to buy nearly 3.5 miles of the railroad corridor that’s currently owned by the Georgia Department of Transportation for $13.5 million.
The property includes the southwest section of the BeltLine as well as part of the Southeast portion.
The BeltLine has a three-year option to acquire the property, and a one year option to buy it at that price. If it doesn’t exercise the option within 12 months, then the property will have to be reappraised, according to ABI spokesman Ethan Davidson.
