DOCUMENT
PLAN OVERVIEW
KEY STUDY AREA TAKEAWAYS
measurements are higher than similar areas with dense tree canopy along streets and highways. • The Peachtree Corridor overall accounts for almost one-third of the appraised property value of the entire
City of Atlanta, at over $31 billion. (Only part of the southern end is within the Stitch study area.)
Economic Impact Analysis for Atlanta's Peachtree Corridor and Downtown (2020)
Prepared by Bleakley Advisory Group for ADID (with Midtown Alliance and Buckhead CID) to assess the economic impact of the activities within each of their boundaries and the combined impact of the Peachtree Corridor in the City of Atlanta.
• Downtown has added over 6.7 million square feet of real estate inventory in the last decade, 2.3 million square feet (34%) of which is multifamily or student housing. • Downtown occupies roughly 1% of the City of Atlanta’s land area, but accounts for over 7.5% of its tax digest and has 19% of the city's jobs and 8% of city's property tax revenue. • Greatest economic benefits will come from increased property values and the development or redevelopment of underutilized parcels in the immediate vicinity. • The Stitch could generate real estate impacts of $283 million through increased property values and $817 million through development or redevelopment of underutilized parcels. The total value increase attributable to the project is $1.1 billion, which would generate increased property tax revenue of $21 million annually. (2014 numbers) • Additional economic benefits can include sales tax collections, regional indirect spending, and increased tourism or convention business attributable to an improved Downtown. • Recommends reconnecting the historic grid • Recommends creating Complete Streets to improve transportation safety for all modes.
Prepared by Jacobs for CAP to analyze the potential economic and financial impact of the Stitch for the surrounding area and the potential for redevelopment of underutilized parcels.
Stitch Vision Plan (2015)
H-9
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