Atlanta Beltline Inc. is shedding light on why a deal fell apart for the redevelopment of Murphy Crossing, a project that strives to bring a “car-free living option” with affordable housing and retail to the Westside Trail.Last month, the Beltline said it was ending its relationship with the development team it picked to purchase and remake the 20-acre site in Southwest Atlanta: Arizona-based Culdesac Inc. and Atlanta-based Urban Oasis Development. The team planned over 1,000 residential units and 180,000 square feet of commercial space. On Wednesday, the Beltline issued a lengthy statement about why it terminated negotiations late last year (read the full statement here).Among the reasons, it said the developers requested $38 million of incentives on top of other tax breaks and discounted land, which it called “excessive and unreasonable.” The Beltline said the team cut the number of housing units in the first phase, from 310 to 105. It cited delayed construction timelines. It also said the developers “were unable to secure sufficient capital to finance the project” and didn’t apply for offered “public monies” such as grants that could have helped the project start.But in a statement to Atlanta Business Chronicle (read it here), Culdesac said the developer had the “desire and financial resources to complete this project.”Culdesac gave its own reasons why the project was challenged. It said in August 2024, it discovered the Georgia Department of Transportation had an easement on the Murphy Crossing property. The developer said that impacted its ability close on financing “that would have been premised on Culdesac obtaining clear, unburdened title to the property.”GDOT has been planning a nearly $7 million project to strengthen …
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