I've seen a number of posts by people that are thinking of investing in Atlanta from out of state, so I'm bringing this up, as it's likely not a topic that's well known outside of the city - The Beltline www.beltline.org

This is a 22-mile ring of railroad tracks, circling around Downtown about 2 miles out. It's been in the making since 1999, when a college student discovered that there are old, mostly unused, railroad tracks circling downtown. He wrote his thesis about the possibility to create a functioning railroad system, which would transform the inner city.

One of his professors liked it and it somehow made it out into the world. First it was just a mythical beast, but it's been put together piece by piece. The city has been buying the land. It's been split up into different portions and parks and jogging paths have been built in stages all around. They've been getting funding from various sources, grants, TADs etc.

So, I would suggest, for any of you who are thinking of buying and holding ITP (Inside the Perimeter) to look how close your proposed properties are to the Beltline. I'm not suggesting to speculate and only buy because you hope the values will go up. But I would say, if you have the choice between 2 properties, that are very similar in ever other regard, I would likely choose the one that was close to the Beltline, because once that is functioning, I believe the values near will increase substantially.

Myself, all of my properties are in a low-income neighborhood right next tot he Beltline. I have great cashflow now, but I expect the value to increase tremendously, once the Beltline is built. The only thing between my neighborhood and the Beltline is a 36 acre vacant piece of land, owned by UPS' non-profit division, who's planning to build a mixed-use development, which would be a further boon to the area, which is right off the freeway.

http://www.yardi.com/blog/news/atlanta-beltline/8095.html