North American Properties is a step closer to redeveloping a stretch of land on DeKalb Avenue that will eventually be part of the Beltline network. Atlanta Beltline Inc filed a permit to transfer development rights for its property at 670 DeKalb Ave, a plan that the Beltline organization proposed last year as part of a redevelopment opportunity along future legs of the Beltline trail. The property is across from the famed Krog Street Tunnel. North American Properties has been in talks to take over that parcel for some months, with the potential of developing up to 275 apartment units, according to the Atlanta Business Chronicle.

NAP's Richard Munger tells us the 1.7-acre parcel is part of efforts to rezone 75 Airline St in Edgewood, as we reported here.

"Collectively, it's an assemblage of four parcels, two of which fall within Inman Park and two parcels within Old Fourth Ward," Richard says, but he did not elaborate further. NAP is scheduled to go before the City of Atlanta's zoning review board on Aug. 11 over rezoning the Airline property into a pure mixed-use parcel (versus some industrial potential).