Latest news with #TheStitch
Axios
23-04-2025
- Business
- Axios
Politic-ATL: City approves tax district for Stitch park
The Stitch, the $713 million proposal to cap the Downtown Connector with a park, secured a crucial funding source and the official OK to move from a plan on paper toward an actual construction project. Why it matters: As the name implies, The Stitch aims to repair the social, economic and spatial damage caused by the construction of the Downtown Connector more than half a century ago. The first phase calls for building roughly five acres on top of the Downtown Connector between Peachtree and Courtland streets. View the master plan. Driving the news: On Monday, the Atlanta City Council approved the creation of a special services district in Downtown to fund The Stitch's administration, operations, maintenance and programs. Property owners inside the district will pay an additional tax to fund the project's long-term upkeep, which would be overseen by a nonprofit. Additional legislation authorizes the city to partner with development authorities and the Atlanta Downtown Improvement District, which has championed the vision, to begin work on the park's first phase. So many districts! What's next: Crews plan to break ground next year after the FIFA World Cup and finish four years later. The entire project could be completed by 2036, officials say. Monroe Drive's slow-going makeover One of residents' biggest concerns about the Amsterdam Walk redevelopment plan, which Council approved 8-6 on Monday, was more traffic on an already dangerous Monroe Drive. Yes, but: A redo of the busy road that would include safer pedestrian crossings and a roundabout at Park Drive to control traffic flow remains locked in a perpetual state of "coming soon." As of February, according to the AJC, the Monroe Drive project remained in the design phase. It's one of many projects that have barely moved thanks to staffing challenges in the city's Department of Transportation. What they're saying: In a newsletter statement sent after Monday's vote, Council member Alex Wan said the rezoning approval "puts additional urgency on the Monroe Drive Safer Streets project to ensure the safety of our community both before and after this project comes online." "I will double down on my efforts to accelerate the delivery of that project." Municipal election updates Commercial real estate attorney Nate Jester will join the race to succeed Atlanta City Council member Marci Collier Overstreet in far southwest Atlanta.
Yahoo
22-04-2025
- Business
- Yahoo
Atlanta City Council approves funding, plans for the ‘Stitch'
At Monday's Atlanta City Council meeting, three ordinances passed to approve the Interstate 75/85 'Stitch' project to move forward. The three ordinances create an ad valorem tax on properties in the Stitch Special Services District, approve financing from partners of the City of Atlanta and formally create the district and set its boundaries, according to officials. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] The project, first proposed in 2019, is intended to reconnect communities in downtown Atlanta that were separated by the creation of the Downtown Connector. As proposed, the project would build an urban park above the connector as a physical cap. TRENDING STORIES: Rep. Williams announces more federal funding to connect Atlanta downtown neighborhoods The Stitch: New rendering released of park to reconnect communities split by downtown connector Atlanta Regional Commission approves $265 million for transport projects across metro area Over $150 million promised to reconnect Atlanta communities with 'The Stitch,' Ga. lawmakers say Atlanta councilman fighting to reconnect communities lost to I-75/85 connector 70 years after downtown connector split Atlanta, there's a new effort to 'stitch' it back together $400 million project would put park, buildings over Downtown Connector Channel 2 Action News previously covered when Atlanta-area U.S. Rep. Nikema Williams secured additional federal funding for the project, saying it would help transform the community. Other supporters of the project previously told Channel 2's Tyisha Fernandes that the Stitch will correct what some call an intentional effort to 'tear neighborhoods apart' to make traffic better. Mike Green, the developer, told Fernandes that the Stitch is meant to both provide affordable housing and reconnect Dr. Martin Luther King, Jr.'s neighborhood to the city. 'Really the idea is to bring those two histories together through this development and do something that not only serves what we need now, but also can serve that place for the future of our city,' Green said previously. Now approved by the Atlanta City Council, the 14-acre project will be able to take the next steps toward construction. Details of the Stitch master plan are available online here. [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
22-04-2025
- Business
- Yahoo
Atlanta City Council greenlights ‘The Stitch' to transform Downtown Connector
The Brief The Atlanta City Council has approved "The Stitch" project, aiming to reconnect communities divided by the Interstate 75/85 corridor with a park over the Downtown Connector. The project has secured approximately $200 million in funding, but the total cost is estimated to be between $550 million and $800 million, with plans to leverage additional funding through bonds and other financing mechanisms. Phase 1 of "The Stitch" is expected to begin in 2026, with the full project anticipated to be completed by 2030. ATLANTA - The Atlanta City Council has voted to move forward on "The Stitch" project, which is expected to make huge changes in the heart of the city. The ambitious project will put a park over the Downtown Connector, re-stitching several communities together, which were long divided by the Interstate 75/85 corridor. What we know The Council passed several key ordinances to get "The Stitch" underway. The first establishes an ad valorem tax levy on properties located within the new Atlanta Stitch Special Services District to help fund construction, operation, and maintenance of the project. The second authorizes the city of Atlanta, the Atlanta Development Authority (doing business as Invest Atlanta), the Atlanta Urban Redevelopment Agency (AURA), and the Atlanta Downtown Improvement District (ADID) to implement the project. It also allows the execution of intergovernmental agreements necessary for financing. The final ordinance formally creates the Stitch Special Services District and defines its geographic boundaries. The ordinances take immediate effect. The backstory The Stitch project is expected to cover a portion of the Downtown Connector between Ted Turner Drive and Piedmont Avenue, uniting the two sides of downtown with a 14-acre series of interconnected parks, plazas, walking trails, and new streets. City leaders say the project will help spur new land uses on nearby properties currently underused or blighted due to proximity to the interstate. The project will physically reconnect the city and generate significant economic development opportunities. By the numbers The project's preliminary engineering has already secured roughly $200 million in funding, including $157.6 million from the U.S. Department of Transportation's Reconnecting Communities Pilot Program. Local contributions include $10 million from the Eastside Tax Allocation District (TAD), $10 million from ADID, and $9.7 million from the City's Moving Atlanta Forward bond funds. However, completing the Stitch project is expected to cost between $550 million and $800 million. City officials plan to leverage additional funding through bonds, notes, and other financing mechanisms approved in coordination with AURA and ADID. Under the ordinance, AURA may issue up to $250 million in bonds with a maximum interest rate of 9 percent and a term not exceeding 30 years. What's next The city will ask the Georgia Department of Transportation to complete the project and maintain its infrastructure once built. An exact timeline of the project has not been given, but Phase 1 is expected to begin in 2026 with the full project being completed by 2030. What you can do More information about The Stitch project and the proposed master plan can be found at SEE ALSO: City Council seeks federal funding for Downtown Atlanta's 'The Stitch' project Plans continue moving forward for The Stitch park over Atlanta's Downtown Connector The Source This article is based on proceedings made during the Atlanta City Council meeting on Monday, April 21, 2025. City records were also used for this article. Previous FOX 5 Atlanta reports were also used.
