Invest Atlanta meeting tackles West Midtown closures, Beltline fears and Amsterdam Walk

The Invest Atlanta board addressed a list of concerns at a Feb. 20 meeting, including a roster of restaurant closures in West Midtown, funding fears for the Beltline and transparency on an upcoming Amsterdam Walk development. 

More than a dozen restaurants in West Midtown have shuttered in recent months. In January, eight establishments shut their doors, citing a lack of diners and sales. In turn, customers have given a litany of reasons for the decline in West Midtown’s culinary scene: sparse and expensive parking, a lack of foot traffic and rising food and drink prices topped the list. 

Mayor and Invest Atlanta Board Chair Andre Dickens said the board is gathering information to create a plan of action for the area. 
“We want to pay attention to that and also help as much as we can with that,” Dickens said. 

The mayor pointed to some consistent issues across the board, like “exorbitant” rents, parking problems, and a rising cost of goods that impact spots all across the city. He also said some tenants are unprepared for the risks that come with renting a commercial space, which leaves many business owners behind on loan payments. 

Invest Atlanta CEO Dr. Eloisa Klemmentich said the economic development agency has worked with businesses in the area to hear what the major trends are. While many owners responded with the expected issues with rent and a lack of weekday customer traffic, others pointed to oversaturation. 

Local Mexican restaurant chain Superica shuttered its West Midtown location just 17 months after opening on Howell Mill Street. It was the sixth Superica location in the city and joined other Ford Fry-owned restaurants in West Midtown like The Optimist, Marcel, Little Sparrow and Bar Blanc. 

But the team at Superica told Invest Atlanta there were too many Mexican restaurants in its direct vicinity to succeed – alleging the landlord opened three spots with the same cuisine “without thinking about the market.” 

Dickens said one part of the plan will likely be education for landlords and tenants alike, teaching landlords how to operate successfully with the market and tenants how to handle commercial space challenges. He also teased possible flexible loan payment programs and a push for facade improvements.

“That is something we want to pay attention to on how we can provide more, you know, technical assistance to them,” Dickens said. 

Invest Atlanta is still in the early planning stages, though. Dickens said the organization must conduct a “proper market analysis.” 

The economic development agency dipped its toe into some other citywide concerns with a conversation around the Atlanta Beltline. According to Atlanta Beltline, Inc. CEO Clyde Higgs, the 22-mile trail is still on track for 2030 completion. 

Higgs said about 17 miles of trail will be completed by this time next year and shared the organization is ahead of its affordable housing unit goals. Currently, Atlanta Beltline, Inc. has built over 4,100 affordable housing units in the Beltline Tax Allocation District. If the organization stays on track, that number will likely hit 7,300 units by 2030. 

But Higgs said there was a fear of a federal funding freeze with the new presidential administration. As the administration scans and cuts major programs nationwide, the Beltline head said there are about $70 to $100 million in federal money at risk of being lost. 

“We still feel comfortable about trail construction and housing affordability, but you cannot discount $70-100 million,” Higgs said. 
To assuage concerns, Higgs said the agency is working on backup plans through philanthropic donors and possible repurposed dollars to continue projects without federal cash flow. 

Several Amsterdam Walk residents and advocates took the floor during public comment to share concerns for their own neighborhood, too. The area is set for redevelopment under Portman Holdings. It has taken residents over a year to reach an agreement with the developer on exactly what that project will look like. 

When Portman Holdings originally proposed new buildings between seven and 17 stories, the community responded with uproar and pushback. In the months since, the neighborhood has negotiated a scaled-back plan with lower density and smaller buildings. 

At the Feb. 20 meeting, Invest Atlanta heard an agenda item about easements and street access for the property. The item came through the night before with few prior updates to the involved community members. A handful of residents took to the microphone to ask the agency to “pause” the vote and let the community read the Portman Holdings proposal first. 

“Apparently, Portman has put together an alternative proposal, scaled down, but we haven’t seen it,” Better Amsterdam Walk representative Charles Kaften said.

He asked for the community to “study” all the details of a new and revised plan, including maps and requirements, calling the hearsay “encouraging” but not transparent. 

“The house is not on fire; you don’t need to vote on this today,” Kaften said. 

An Invest Atlanta member explained that the developers need access to a portion of the city’s Department of Watership Management Property and are working on a new street access point at Evelyn Street, which is why the vote is coming through Invest Atlanta. 

But city leaders stressed the board’s approval will just push Portman Holdings to the Atlanta City Council for further action and approval – Invest Atlanta is just an administrative step. 

The board unanimously approved the item. As the Amsterdam Walk advocates left, they said they were “glad they came” to the meeting.