500 James P. Brawley Drive has more than a century of history within its walls. Beginning as 592 Chestnut Street, it appears on the 1911 Sanborn Map for this area of Atlanta. According to the original permit, the building housed two storefronts and four apartments. Its 6,000-square-foot structure remains unchanged. Plans for the renovation of the Yellow Store are currently underway. The renovation will modernize while retaining its important historic characteristics.
The two-story building features blonde multi-with brick masonry. The ground level is divided into two commercial spaces with concrete flooring. The larger southern unit includes a commercial range hood and grease trap. The northern unit has a small one-bedroom apartment at the rear. The second floor is divided into four apartments, each with two bedrooms, a living area, kitchen, and bath. Two apartments offer direct access to a rear deck. Photos of the property are provided as Appendix A and as built of the building has been provided as Appendix B.
*Parking is limited to on-street parking only at this time*
About the Opportunity
As a part of the planning and future use process, Westside Future Fund met with residents of the English Avenue neighborhood to understand what they envisioned for the property. We learned that residents would welcome options such as a co-op, coffee shop, bakery, restaurant, bodega, convenience store, small grocer, or office space. This critical input informed Westside Future Fund's desire to see the Yellow Store redevelopment provide viable retail to the English Avenue neighborhood and create spaces where people can connect and interact with one another. The community spoke against uses such as a coin laundry facility, dollar store or the sale of liquor in general as not meeting the long-term vision of neighborhood. Once the renovation is completed, the Yellow Store will offer premier mixed-use space in the heart of English Avenue and potentially job opportunities that would also benefit the community.
The LOI is intended to establish the credentials, viability, and desire of business owners to bring their business to this site, The selected business will help in defining the proposed principal terms and conditions of an agreement between the selected business, reinforce the land use, zoning, design, and development program for the building. As a subsequent next step, a definitive agreement (“Definitive Agreement”) among WFF or its’ designee and the selected occupant of the Yellow Store will be executed. The Parties recognize that there are other terms and conditions that have yet to be addressed. Still, the Parties agree to work together in good faith to address these issues and to complete a future Definitive Agreement, subject to underwriting, which is acceptable to both Parties as quickly as is practicable.
Schedule of Events
Event Date and/or Time
LOI Posted on WFF Website December 15, 2021
LOI Conference and Site Visit January 18, 2022, 10 a.m.
Deadline for Questions and/or Comments January 25, 2022, 5 p.m.
Letter of Interest Due February 1, 2022, 5 p.m.
Communications
1. All questions must be submitted in writing to the attention of Derrick Jordan via email at derrick@westsidefuturefund.org by Jan 25, 2022, 5:00 p.m.
2. Responses to these questions will be addressed in writing and issued as an addendum to this Letter of Interest (LOI) solicitation. WFF will not respond to requests for information after the date stated above.
3. It is the responsibility of the Respondent to monitor WFF’s website for any addenda issued. All Respondents are encouraged to frequently check WFF’s website for additional information.
4. All requests for information or clarification pertaining to this solicitation must be addressed in writing.
Invitation to Respondents
Through this solicitation process, WFF seeks qualified business operators who will:
1. Operate their business out of the of Yellow Store (500 James P Brawley Drive), consistent with the mission of the Westside Future Fund and the real estate market. If the respondent sees an opportunity to have commercial or residential sub-tenants, they should outline the proposed uses and users in the LOI.
2. Work in partnership with the Area Stakeholders, residents, and businesses; and
3. Promote reinvestment in the surrounding neighborhood and stimulate economic development.
Through this solicitation process, WFF extends an invitation to partner and collaborate to all experienced and creative business operators and managers who are aligned with WFF’s mission. The purpose of this solicitation is to collect, review, and evaluate the qualifications of potential operators. WFF invites qualified candidates to submit a LOI to operationalize and manage the Yellow Store once renovations are completed, including the ground floor retail and/or commercial uses and 2nd floor commercial and/or residential uses. As set forth in this solicitation, interested parties must meet WFF’s qualifications as part of the LOI, including:
o Previous experience as an operator of a neighborhood mixed-use retail/commercial/residential building.
o A track record of managing neighborhood-level retail and ability to assist in programming that will facilitate the development of a viable building program that provides retail and commercial options to the English Avenue neighborhood,
o Demonstrated compassion for improving the quality of life for legacy residents, and
o How leasing rates would be determined and the proposed initial leasing rates inclusive to proposed terms and conditions of a lease.
