The success of the Atlanta BeltLine project has made a resounding impact on the industrial building market, affecting the types of businesses able to stay in the area. With development along the Southwest trail underway, Atlanta City Council and Atlanta BeltLine, Inc. are modifying strategies of neighborhood usage to ensure equity, affordability, and inclusion, while maintaining the neighborhood’s cultural story.
In the Eastside Trail area near Ponce City Market, upscale retailers, businesses and residential units helped make the project a raging success. Despite the surrounding neighborhood being incongruent with its historical story, it turned the desirable but less affordable surrounding neighborhood into an attractive and well-visited area of town.
Currently, the new Westside Trail is already booming with the addition of breweries and craft food eateries. Much of the industrial space is also being occupied by trendy food production facilities including Honeysuckle Gelato, Doux South Pickles, Wild Haven Beer, and Southern Aged (cheese). This is causing the less chic, yet still important, companies to look elsewhere for industrial space as demand and rent increases.
Two miles from Mercedes Benz Stadium, Metropolitan, a local developer, paid +/- $60 Million to convert an industrial site into office and service space for a variety of business needs in an effort to close the gap. How the city intends to improve areas off the BeltLine and near attractions such as the new stadium have yet to be determined, however, improvements made by CIDs will undoubtedly play a role. Watch for our next article about the impact of some of Metro Atlanta’s hottest CIDs.