Giant South Downtown Project Taking Shape (taxes, moving, homeless)

[cqholt]

Originally Posted by HH82

More residential coming to Five Points area in the United Way building. Good to see. https://www.bisnow.com/atlanta/news/...ents-76955#ath

Streetcar stop directly across the street. More 24/7 residents will help to improve Hurt Park and force APD GSUPD to enforce anti-loitering ordinances.

[arjay57]

This sort of ties in with our discussion in other threads about TOD.

This is happening in an area where there are no parking minimums. And with a development that is literally on top of the busiest transit station in the MARTA system.

Sounds like the NPU somehow got cut out of the system, too.

What are we supposed to do when developers haul off and put in parking even when it's not required and the city helps pay for it?

Invest Atlanta, the City of Atlanta’s funding arm, has voted this week to contribute funding for an apartment development with two levels of parking deck next to Five Points MARTA, where no parking requirements exist. And they did so without required neighborhood notification.

If you haven’t seen this proposed apartment building for Underground Atlanta or any plans for it, not even at the latest public-engagement meeting from property owners WRS, you’re not alone. No one saw it until today’s Invest Atlanta meeting because it was never submitted to the local NPU, the city’s official Neighborhood Planning Unit, as is required by the application for public funding.

Atlanta is publicly funding the addition of parking literally on top of a section of the Five Points MARTA Station (the most heavily-used transit station in the southeastern U.S.) and we’re doing so in a part of the city that has no parking minimums – this is the wrong way to add density near transit. If the plan had been presented to the NPU, the public would have had a chance to speak up about this. We had no such chance.

More....Public funding for two levels of parking next to Five Points MARTA

[Gulch]

We already have a thread on this

//www.city-data.com/forum/48901650-post94.html

[JPD]

Why should I pay for YOU to make a profit on this kind of $h!+.

[arjay57]

Originally Posted by Gulch

We already have a thread on this

//www.city-data.com/forum/48901650-post94.html

Sorry, maybe the mods can delete this or combine it with the other.

[jsvh]

Originally Posted by arjay57

This sort of ties in with our discussion in other threads about TOD.

This is happening in an area where there are no parking minimums. And with a development that is literally on top of the busiest transit station in the MARTA system.

Sounds like the NPU somehow got cut out of the system, too.

What are we supposed to do when developers haul off and put in parking even when it's not required and the city helps pay for it?

I don't think it is reasonable to expect no parking to exist at this point.

To me this is just yet another example of why we need to get rid of parking minimums and let the market decide. Get rid of parking minimums does not mean all parking spaces disappear despite what some of the hyperbole may imply.

There have been basically no details published on this parking deck and the number of spaces but I bet it will be far below the typical space-per-bedroom marking minimums that exist many places.

[ATLTJL]

I don't understand why the city is helping fund any part of a private apartment development.

Is it a bond situation? Do they get the money back with interest or a cut of the profits or anything?

[jsvh]

Originally Posted by ATLTJL

I don't understand why the city is helping fund any part of a private apartment development.

Is it a bond situation? Do they get the money back with interest or a cut of the profits or anything?

They get increased taxes.

The logic goes something like this: Property currently paying $1M a year in taxes, but with X development it will pay $10M a year, so we will grant them $30M of incentive to build it since we will earn that revenue back and then some within four years.

The flaw in that logic assumes no improvement would happen without the incentive.

I agree with should not be doing these sort of incentives beyond maybe some type of TAD agreement to fund infrastructure in the area the development needs (Atlantic Station and the Beltline are good examples).

[samiwas1]

Originally Posted by ATLTJL

I don't understand why the city is helping fund any part of a private apartment development.

Is it a bond situation? Do they get the money back with interest or a cut of the profits or anything?

That's what stopped the entire redevelopment of the new Publix in Upper Westside/Bolton/Fernleaf/Ridgewood Heights/Underwood Hills/Unnamed Neighborhood/etc/etc. Some city funds were being used through a TAD to help the development get off the ground, and it was stopped by a scumbag lawyer.

[ATLTJL]

I agree with should not be doing these sort of incentives beyond maybe some type of TAD agreement to fund infrastructure in the area the development needs

That's BS.

My property taxes are about $3k a year. The county didn't give me a $12k incentive knowing it would make it back in 4 years.