The Edgewood and Sweet Auburn community will soon have a fully redeveloped community space that will house tenants like the National Center for Race Amity and a children’s theatre group.
The Invest Atlanta Board approved a $1.45 million grant from the Eastside Tax Allocation District (TAD) Community Empowerment Fund to finance the redevelopment of approximately 8,091 square feet of office and community space for local businesses and nonprofits.
According to Ashley Jones, assistant director of Commercial Development for Invest Atlanta, the building is in close proximity to the Atlanta Streetcar and will contribute to the revitalization of the Historic Sweet Auburn District. “It currently is an under-utilized space in desperate need of repairs that will be put back to good use,” said Jones. “The interior is in a raw form and will go through a complete gut and redevelopment.”
The building was constructed in 1941. When complete, it will contain 6,243 square feet of office space and 1,848 square feet of flexible community space. The primary focus of the project is to support community-oriented nonprofits and the surrounding neighborhood with quality, affordable space.
Approximately 2,500 square feet will be leased to the anchor tenant – the National Center for Race Amity’s Atlanta office – while the remaining office space will offer a collaborative environment for local businesses and nonprofits. The community space will be rented and leased for gatherings, readings, plays, a music venue, markets, speaker series and performances.
The owner has committed to below-market rent for the 2,500-square-foot anchor tenant space, as well as 20% of additional leasable space to local nonprofits and small businesses at 20% below market value for 15 years.
According to Alan Ferguson, senior vice president of Community Development at Invest Atlanta, this project continues the Edgewood Avenue corridor’s ongoing revitalization. “We are very excited about this development because it involves the historic renovation of an existing property, and we’re even more excited about its purpose,” said Ferguson. “It’s galvanizing this area and reinforcing its importance as a cultural center for racial equity and healing throughout the world.”