Development authority considers tax break for new apartment project

$5M abatement will be voted on today.

A Fulton County agency will consider granting more than $5 million in tax breaks for a luxury residential and retail project near the Eastside Beltline trail, one of the hottest neighborhoods in the city.

The Development Authority of Fulton County (DAFC) will vote today on the tax abatement, which would provide about $5.7 million in tax savings to developer RPF Highlands LLC over the next decade. RPF Highlands appears to be a development partner of Aderhold Properties, a multifamily developer, according to state records.

RPF Highlands plans to build a 284-unit mixed-use building, a grocery store and about 12,400 square feet of retail and restaurant space along Boulevard and Highland Avenue, replacing a shuttered furniture store and empty lots near the Freedom Barkway Dog Park. The developer will also build roughly 400 new parking spaces for residents, shoppers and dog park visitors.

The developer will reserve 15% of the apartments — or 43 units — for tenants making 80% or less of the area median income, a requirement for developments close to the Beltline’s popular multi-use trail. In return for the tax abatement, the developer will preserve the affordable units’ pricing for 30 years — 10 years beyond what city code requires.

Development authorities play outsize roles in recruiting jobs and investment and DAFC is among the more prolific providers of taxpayer-funded incentives. But the authority has received criticism for approving tax breaks for projects in fast-growing areas, including the Beltline or Midtown with few public benefits. Critics contend the authority often grants incentives for projects that would have been built without tax breaks.

The authority, as part of the “bond-for-title” transaction, would earn a fee in exchange for enacting the tax break.

The DAFC did not immediately respond to a request for comment ahead of today’s meeting.

Last month, a potential tax abatement for a data center that’s already under construction along the Beltline received strong pushback from residents and city officials, leading to the request being shelved. That item was not included on the agenda for today’s meeting as of Monday afternoon. RPF Highlands has yet to publicly reveal its development plan for the Boulevard and Highland Avenue site. Roughly 3 acres is owned by Highland Boulevard LLC, a company tied to Adelhold Properties President Thomas Aderhold, according to state records. Neither RPF Highlands nor Aderhold could be reached for comment.

The board’s in-person meeting is at 2 p.m. today at the DAFC’S conference room at 141 Pryor Street SW, suite 2052.

GOOGLE MAPS This screenshot shows the site for a proposed luxury residential and retail project along Boulevard and Highland Avenue near the Eastside Beltline trail.