Atlanta Beltline Makes a Major Acquisition, Says Mayor

Atlanta Mayor Shirley Franklin's office reported that Atlanta BeltLine, Inc. and NE BeltLine, LLC have negotiated acquisition of an important parcel of land on the Northeast quadrant of the Atlanta Beltline.

Local developer Wayne Mason owns the parcel, called the "Northeast corridor". When the transaction is complete, 20% of the right of way needed for the Beltline will be in place.

"This is a tremendous step forward for the BeltLine," said Mayor Shirley Franklin in her weekly news email. The Atlanta Beltline is a proposed ring of parks and public transportation following old rail lines around Atlanta.

The Northeast corridor is the third major purchase, after the Bellwood Quarry in 2006 and Boulevard Crossing in June 2007. Both will become large parks, part of urban designer Alex Garvin's "Emerald Necklace."

According to the mayor's office, $1.5 billion in new investment and more than 60 projects are underway in the Beltline Tax Allocation District (TAD).