A mixed-use project is now under construction in Southwest Atlanta. The project, a public-private partnership, will preserve two historic warehouses while bringing new housing and commercial space to the area.
Development of the Oakland Exchange Is Now Underway in Southwest Atlanta
A partnership between the Atlanta BeltLine and Urban Realty Partners has been finalized to develop the Oakland Exchange. This mixed-use project in the Oakland City neighborhood will take over brick warehouses built in the early 1900s. The construction is now underway at the 6-acre site where the warehouses will be converted into loft-style apartments and commercial space.
The site is located at 1088 and 1100 Murphy Avenue SW, which is across from Murphy Crossing. The warehouses are recognizable by their iconic painted signs reading ‘Cut Rate Box Co.’ and ‘Welcome to Atlanta.’ The property was acquired by the BeltLine and entered a long-term ground lease with Urban Realty.
Oakland Exchange aims to preserve the historic building while expanding the city’s affordable housing. It also brings support to small businesses while contributing to the ongoing revitalization of the neighborhood.
Project Details
Phase I is underway, converting the warehouses into 126 loft apartments. It will also develop 16,000 square feet of creative commercial space designed for local businesses. A 3,000-square-foot retail and restaurant space will also be developed along the future Oakland + Murphy Connector Trail.
The project is funded through a mix of public and private financing. It includes Ameris Bank, historic tax credits, GoATL funding, and support from the BeltLine Tax Allocation District. Project partners include Kronberg Urbanists + Architects, Choate Construction Company, and LDG Consulting.
Two additional phases are planned for nearby properties at 1066 Murphy Ave and 1135 Sylvan Road. These are expected to include multifamily housing, as the land is zoned for high-density residential development.
Affordable Housing Commitment
The project contributes to the neighborhood’s affordable housing, and 60% of the apartments are reserved for this. It is available for residents earning up to 80% of the Area Median Income (AMI). Of this, 30% will be permanently affordable, 5% will be for residents at 60% AMI, and 25% will be for residents at 80% AMI.
An additional 35% will remain affordable at 80% AMI for 20 years. Some commercial spaces will also be offered at rents 20% below the market rate.
Oakland Exchange marks a step forward in Southwest Atlanta’s ongoing revitalization. The project preserves historic warehouses while delivering affordable apartments and vibrant commercial spaces, bringing new energy to Southwest Atlanta.
