3 years later, Beltline affordable housing tower officially arrives

More than three years after it broke ground, a unique public-private development with nothing but relatively attainable housing officially opened today over a forthcoming segment of the Atlanta Beltline loop. 

Skyline Apartments, a $94-million Peoplestown venture led by New York-based developer Exact Capital Group and Aleem Construction, is the tallest new development overlooking any Beltline segment not named the Eastside Trail. 

The 11-story project—visible from several neighborhoods south and east of downtown and named for “predominantly unobstructed views of the Atlanta skyline,” per developers—has delivered 250 units of exclusively affordable housing, thanks to financial help from both city and state coffers, officials say.

All units at Skyline Apartments are being reserved for residents earning 60 percent of the Area Median Income or less, according to Exact Capital.

That means monthly rents range today from $1,062 for studios to $1,322 for two-bedroom, two-bathroom units, according to Apartments.com. 

The mixed-use building stands just north of the Beltline’s Southside Trail-Segment 2 corridor, which Beltline leadership is trying to build and open prior to 2026 FIFA World Cup festivities in June, despite current delays. It includes a healthcare center described as “state-of-the-art,” along with amenities such as a modern gym, community room, meeting spaces, and a dog wash station, according to an announcement today.

A retail component that Beltline officials have described as “small” is also in the mix. (We’ve asked developers for updates today on retail tenant signings but hadn’t heard back as of press time.) [UPDATE: 6:49 p.m., Oct. 14: According to project reps, Skyline Apartments has 6,300 square feet of retail space and "negotiations are underway with prospective tenants."] 

Skyline Apartments is “a transformative development that delivers long-term community growth and stability for residents of one of Atlanta’s most dynamic neighborhoods,” said Craig Livingston, Exact Capital managing partner, in a statement. 

The Beltline contributed $2 million toward the Skyline project, as sourced from the Atlanta Beltline Affordable Housing Trust Fund, or BAHTF. Beyond that, Exact Capital received a tax-exempt bond from Invest Atlanta’s Urban Residential Finance Authority and low-income housing tax credits from the Georgia Department of Community Affairs, among other funding sources. 

The developers cited Stonehenge, LISC, and Walker & Dunlop as additional partners. The Urban Investment Group at Goldman Sachs Alternatives, meanwhile, provided financing for the project, including a construction loan and federal low-income housing tax credit equity.

Across the street, retailers and food-and-beverage operators have begun opening at the adaptive-reuse Terminal South project. Just east of the Skyline site, more than 900 apartments and townhomes have sprung up in three separate developments along the Beltline corridor over the past few years. 

MARTA’s delayed Rapid A-Line—the agency’s first bus-rapid-transit system, a five-mile, 14-station loop—is now expected to debut next year at the doorstep of Skyline Apartments. 

“This investment is more than attainable homes,” said Asahi Pompey, chair of the Goldman Sachs investment group, in today’s announcement. “It’s increased access to jobs, reliable transit, and opportunity, laying a foundation for lasting stability in the vibrant City of Atlanta.”

According to Exact Capital's project description, the current Skyline Apartments building is just phase one of three. Plans ultimately call for 875 apartments and 30,000 square feet of retail across 1.8 million square feet of development.  

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