Atlanta Beltline Inc. has rolled out the Local Developer Incentive Fund, a new pilot program that provides direct capital to small, local developers completing commercial development projects along the city’s Beltline corridor.
The new initiative offers grants ranging from $150,000 to $500,000 to developers that dedicate a portion of their commercial space to below-market rents for at least 10 years. The fund supports both new construction projects and recently completed developments actively seeking commercial tenants that meet small business income and employment thresholds while operating no more than one location in the state.
The effort is intended to support small business entrepreneurship and to preserve historic communities of color and the cultural heritage of the Beltline neighborhoods. The fund is administered by the Center by Lendistry, and grants may be recovered or required to be repaid, if affordability commitments are not maintained for 10 years. Grant recipients will also receive operational support from the Atlanta Beltline Business Solutions Office, including qualified tenant sourcing and streamlined lease-up services.
“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, and we want to ensure that residents and visitors alike experience the authentic, locally owned businesses that represent the true spirit of our city. This fund is our commitment to making that vision a reality.”
Developers interested in the program can apply online, and applications are being accepted through Oct. 24.
