Atlanta Housing Invites Developers for Historic Stadium Renewal
Revitalization of 450 Hank Aaron Drive will deliver affordable housing and economic vitality to Summerhill
Atlanta Housing (AH) has issued a Request for Proposals (RFP) for the redevelopment of the landmark 450 Hank Aaron Drive property. This initiative encourages developers to reimagine the historic Stadium Hotel into a high-quality, mixed-income community featuring affordable homes, community-centric retail, and spacious public areas.
Built in the 1970s, the Stadium Hotel has been a significant part of the city, welcoming countless visitors for sports and events. Now, as a vacant site, it holds the potential for transformation into a vibrant and inclusive community that respects the neighborhood's heritage while promoting contemporary development.
"Together with our developer partners, we will breathe new life into an empty commercial property, transforming it into a place to call home and one of opportunity," said Terri Lee, President and CEO of Atlanta Housing. "This project offers developers a chance to create a vibrant, welcoming residence for over 250 seniors and families—a place where people of all backgrounds can connect and thrive."
The redevelopment initiative is set to catalyze economic growth in Summerhill by attracting new residents and businesses, thus elevating the area’s vibrancy. With proximity to notable Atlanta attractions, such as educational institutions and popular commercial corridors, this project aims to fulfill Atlanta Housing’s mission of expanding access to affordable housing and fostering a diverse community.
Transformative Project Features
The project will encompass both adaptive reuse of the existing structure and new construction, ensuring a modern living experience for residents aged 55 and older. Additionally, ground-floor retail spaces are being designed to bolster local businesses while enhancing neighborhood connectivity.
Community-Centric Design
Development under this RFP emphasizes sustainable building practices and integrates amenities that reflect the spirited atmosphere of Summerhill. It aims to be a friendly environment that fosters community ties and provides easy access to transportation.
Public-Private Partnerships
Atlanta Housing is optimistic about forming robust public-private partnerships, intending to intertwine affordability with quality standards. This innovative approach is set to create a transformative development enhancing both the local economy and community spirit.
Project Timeline and Goals
Responding quickly is key for developers interested in submitting proposals for this promising initiative. The key milestones include:
- Execution of Master Development Agreement (MDA): Anticipated within 75 days following developer selection
- Initial Financial Closing: Expected within a year of MDA execution
- Project Completion: Full occupancy and site development are targeted within five years
Atlanta Housing is eager to partner with developers that share a passion for impactful community development through mixed-use and mixed-income housing solutions. Developers can review the full RFP and requirements on Atlanta Housing's website.
About Atlanta Housing
Under the leadership of President and CEO Terri M. Lee, Atlanta Housing serves as Georgia’s largest housing authority, facilitating affordable housing resources for nearly 27,000 low-income households. The authority is recognized for its innovative strategies to create accessible homeownership opportunities and improve quality of life across Atlanta.
Atlanta Housing is dedicated to enhancing the livability and economic stability of communities through partnership-driven, quality housing solutions.
Frequently Asked Questions
1. What is the purpose of the RFP issued by Atlanta Housing?
The RFP invites developers to propose innovative plans for redeveloping the historic Stadium Hotel into a sustainable mixed-income housing community.
2. How many housing units are planned for the redevelopment?
Around 250 age-restricted, affordable rental units are anticipated for seniors aged 55 and older.
3. What is the significance of the Stadium Hotel site?
Historically significant, the Stadium Hotel has served the community for decades and is viewed as a key asset for revitalizing the Summerhill area.
4. How can interested developers participate in this project?
Developers can access the full RFP and submission details on the Atlanta Housing website, encouraging a thorough understanding of the requirements.
5. What long-term impacts does Atlanta Housing expect from this project?
The project aims to stimulate economic development, create jobs, and offer affordable housing, thereby enhancing the overall quality of life in the surrounding community.
