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Augusta, 1022 Broad Street
Closing Date: May 6, 2015
In May 2015, the Foundation provided a $185,000 loan to the Downtown Development Authority of Augusta to partially finance the renovation of the historic Henry Kennedy Building located at 1022-1026 in downtown Augusta. The DDA provided a simultaneous loan to Henry Kennedy Bldg, LLC, the project’s developer. The completed project houses two street-level commercial spaces and four residential apartments. The total project cost is $464,000.
Project Details
Loan Recipient
Downtown Development Authority of Augusta
Sub-Recipient
Henry Kennedy Bldg, LLC
Project Cost
$464,000
GCF Loan Amount
$185,000
DD RLF Loan Amount, if any
N/A
Project Use
Mixed-Use
After
Foundation Project Impacts
335 New Downtown Businesses
2196 New Jobs Downtown
$208 Million in Private Investments
8 Cultural Facilities
347 Downtown Housing Units
157 Hotel Units Downtown
1,600,000 Redevelopment Floor Area sf
229,000 New Construction sf