Amsterdam Walk Redevelopment Wins Invest Atlanta Tax Break: 1,100 Units

The 1,100-unit mixed-use redevelopment of Amsterdam Walk at 500 Amsterdam Ave NE in Virginia-Highland has been approved for a nearly $15 million property tax break, which Invest Atlanta's board passed 6-2 on Sept. 17. The deal includes 39 affordable units. Portman Holdings is developing the project, with architecture by Dwell Design Studio.

The 9-story, 95-foot project spans roughly 1.2 million square feet, with 1,435 parking spaces and ground-floor retail. It replaces the existing Amsterdam Walk retail and office complex near Piedmont Park's eastern edge.

Amenities include public plazas, locked bicycle parking, and pedestrian connections to the Beltline's Eastside Trail, which runs along the site's eastern side.

Project records also updated the address from 501 to 500 Amsterdam Ave NE. With approval secured, the project moves toward construction.

Correction, Oct. 21, 2026: An earlier version of this story said affordable units were cut from 220 to 39 and completion was pushed to June 30, 2029. No source reports either; the 39 affordable units are the ones in the Invest Atlanta tax break deal.