Invest Atlanta has approved a $330 million lease-purchase bond for Amsterdam Walk, a planned development near the Atlanta Beltline’s Northeast Trail.
The arrangement lets Portman Holdings lease the property from the development authority and make payments as the bonds are repaid. Invest Atlanta will retain title until the debt is paid off.
The project covers 11 acres on Monroe Drive, near Virginia-Highland and Morningside. Current plans call for 1,100 rental homes and 1,435 parking spots, along with 150,000 square feet for commercial uses. Portman also plans to include affordable housing.
In September, Portman received $15 million in Beltline Tax Allocation District funding for infrastructure and an initial 539 multifamily units. Nearby residents have raised concerns about traffic, and Atlanta school board member Ken Zeff has questioned the use of public incentives. Supporters say the development will improve the neighborhood.
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