Two Invest Atlanta-supported projects were honored at the Urban Land Institute (ULI) Atlanta 27th Awards of Excellence ceremony: Trees Atlanta’s Kendeda TreeHouse for Excellence of Mission Advancement and Marchon in the Multifamily Residential Development category.
ULI recognizes outstanding real estate development projects, related programs and visionaries in urban development. Its awards programs are highly selective and spotlight a wide range of project types, sizes and initiatives, including everything from housing, commercial and mixed-use developments to new communities, open spaces and policy initiatives.
Located in Southwest Atlanta, the Kendeda TreeHouse was built on what was once an industrial brownfield lot in Oakland City and serves as Trees Atlanta’s home office. The location was chosen to provide the historically underinvested community with greater access to education programming and green job opportunities. The 23,000-square-foot-building on Warner Street sits on 2.9 acres of land surrounded by native plants and more than 200 trees.
The TreeHouse features multiple sustainability efforts, including maximizing previous land cover, reusing lumber, implementing efficient day-lighting, and more. In addition, the building is designed for the future installation of solar panels.
Trees Atlanta is a nonprofit founded in 1985 to protect and improve Atlanta's urban forest through plantings, conservation and education. It worked in partnership with Invest Atlanta, the City of Atlanta and Atlanta Emerging Markets, Inc. to finance the Kendeda TreeHouse, receiving $150,000 from the Brownfield Revolving Loan fund, as well as $13 million in New Market Tax Credits.
Marchon is a four-story multifamily development featuring 305 residential units, approximately 33% of which are available for workforce housing at 80% area median income (AMI).
Built on what was once an underutilized brownfield used as a parking lot for the King Memorial MARTA station, Marchon is now a vibrant transit-oriented, community-centered apartment complex that also includes retail space and outdoor amenities.
The development was funded through a partnership with Invest Atlanta and MARTA, with MARTA lowering the land cost through a ground lease and supporting 50% of the brownfield environmental remediation while Invest Atlanta provided $6 million in tax allocation district (TAD) grants.