ATLANTA — Atlanta Beltline, Inc. has unveiled the Local Developer Incentive Fund. It’s a $2 million grant program aimed at supporting local developers committed to creating affordable commercial spaces along the Beltline.
The program offers grants ranging from $150,000 to $500,000 to small, local developers developers who dedicate a portion of their commercial space to below-market rents for at least 10 years. This initiative seeks to address the urgent need for affordable commercial spaces for small businesses and local entrepreneurs, strengthening neighborhoods and creating lasting opportunities.
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The project is a recognition that the highest commercial lease rates in metro Atlanta are on the Beltline, surpassing both Buckhead and Perimeter submarkets, according to information from Atlanta Beltline, Inc.
“Launching the Local Developer Incentive Fund marks a pivotal moment in the Beltline’s evolution,” said Clyde Higgs, president and CEO at Atlanta Beltline, Inc. “We’re proving that transformative development and community preservation aren’t mutually exclusive.”
Kelvin Collins, vice president of economic development at Atlanta Beltline, Inc., stated, “The Local Developer Incentive Fund is our direct response—an innovative model that shares the responsibility of fostering small business success with our development community.”
The fund supports both new construction projects and recently completed developments actively seeking commercial tenants. It aims to preserve historic communities of color and the cultural heritage that characterizes many Beltline neighborhoods, especially as Atlanta experiences an influx of newcomers and visitors.
Administered by the Center by Lendistry, the fund offers operational support from the Atlanta Beltline Business Solutions Office, including qualified tenant sourcing and streamlined lease-up services. It also provides market intelligence, such as rent benchmarking and compliance studies, to offset costs and improve long-term project returns.
If developers don’t maintain to their commitment to offer affordable commercial spaces, they may be required to give up or repay the money, Atlanta Beltline said.
Natalie Jones, project manager at the Atlanta Beltline Business Solutions Office, emphasized the support ecosystem provided to entrepreneurs, stating, “We’re ensuring that these below-market rent opportunities translate into genuine business success stories that will anchor our communities for years to come.”
The initiative comes as Atlanta prepares for major international events, including FIFA World Cup 26 and Super Bowl LXII, providing small businesses with stable, affordable spaces needed for economic growth during these events and beyond.
Applications for the fund are now open and will close on Oct. 24. Developers interested in participating must meet specific criteria, including location within the Beltline corridor, gross revenue less than $1.5 million, employing 20 people or fewer, operating no more than one location in the state, and a commitment to lease commercial space at below-market rates for a minimum of 10 years.
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