Notice of Availability of Transferable Development Rights

 

Central Presbyterian Church (CPC) of Atlanta is the owner of an Historic Landmark Building and Site listed on the National Register of Historic Places in downtown Atlanta. CPC is seeking expressions of interest from qualified property owners, developers, brokers, or other real estate entities to receive its currently available 1 million square feet of severed development rights through a Transfer of Development Rights (TDR) as authorized by the City of Atlanta. The goal of CPC is to sell or trade these development rights to support its mission toward affordable and supportive housing in Atlanta.

The church will consider: 1) an outright sale of our severed development rights for the best cash offer, or 2) a mutually beneficial transaction that transfers severed development rights to an eligible Receiving Site in exchange for a binding agreement to provide a suitable number of affordable housing units in an appropriate location and time.

Location of Sending Site: Central Presbyterian Church, 201 Washington Street, SW, Atlanta, GA 30303 (1.077 Acres).

Current Zoning of Sending Site: Special Public Interest District (SPI)-1, Sub-Area-1 (Landmark Building or Site).

Severance of Development Rights: Ordinance 20-O-1173, approved April 20, 2020 (Case U-20-03) authorizes Central Presbyterian Church to convey its severed development rights and transfer them to a separate Receiving Area located in the City of Atlanta.

Magnitude and Character of Transferable Development Rights Severed: 1,000,000 gross square feet distributed as 700,000 sq. ft. of Residential floor area and 300,000 sq. ft. of Non-residential floor area as specified in City of Atlanta Ordinance 20-O-1173, approved April 20, 2020.

Jurisdiction and Governing Authority of Transfer: City of Atlanta Code of Ordinances, Section 16-28.023. Transfer of development rights.

Conditions of Transfer of Development Rights: A Special Use Permit must be approved by the City of Atlanta pursuant to Code Section 16-25.003 prior to transfer of the severed rights to an eligible receiving site.

Receiving Properties Eligible for Transfer: properties in the City of Atlanta that are zoned with a classification that allows multi-family residential uses or mixed use, provided that such mixed use has a residential component of at least 50 percent.

Permitted Uses for Transferred Rights: Development rights transferred from a landmark building or site or historic building or site may be applied to any permitted use, which would be allowed on the property from which the rights were transferred. These uses include all those uses currently permitted in the SPI-1, Sub-Area 1, (such as commercial mixed use, residential mixed use, office, hotel, multifamily residential, and institutional uses) provided that the total residential floor area being transferred does not exceed 700,000 gross sq. ft. and the total non-residential floor area of the transfer does not exceed 300,000 gross sq. ft. For detailed information concerning permitted uses and applicable special use permits required of certain land uses, refer to the City of Atlanta Code of Ordinances, Section 16-18A.006.

For more information, contact Gary Cornell at gary.cornell01@gmail.com or (404) 431-9876.