Thursday, May 28, 2009
News GDOT, Beltline start discussing SW, SE Atlanta property
Posted by Thomas Wheatley @thomaswheatley on Thu, May 28, 2009 at 4:29 PM
At last week's State Transportation Board meeting in Douglas, Ga., Erik Steavens of the department's intermodal program director briefed board members on land negotiations that are underway between GDOT and Atlanta Beltline Inc., the agency tasked with designing the planned 22-mile loop of parks, trails and transit that will one day circle the city's urban core.
GDOT owns two pieces of transit right-of-way that ABI has marked as part of the project's "spine" — a small sliver in Southeast Atlanta and a larger one in Southwest Atlanta.
After the jump, screenshots from Steavens' presentation to GDOT board members depicting the properties, including what kind of profit the department might see from their sale.
Southeast Atlanta (GDOT-owned property is in red):
Southwest Atlanta (GDOT-owned property is in red):
Comments (2)
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Gotta love how the background of those slides is a huge, ugly highway interchange.
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So those properties allegedly appreciated 1000% in 6 years? I'm sorry, but those appraisals are worthless - and not just because they were done in 2007, at the onset of the real estate crash. The market to buy those properties is very limited. There may only be one interested party - the Beltline.
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