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Covington, Mystic Grill
Closing Date: June 5, 2014
In June 2014, GCF closed a $250,000 loan to the Covington DDA to assist in financing the acquisition and renovation of a building located on Clark Street in downtown Covington for use as a restaurant, Mystic Grill. Since 2010, this building has been featured as the fictitious Mystic Grill restaurant in the television series “The Vampire Diaries.” The Georgia Department of Community Affairs (DCA) also provided financing for the project. The total project cost is $1,795,000.
Project Details
Loan Recipient
Sparrow Properties
Sub-Recipient
2 by 4 Holdings, LLC
Project Cost
$1,795,000
GCF Loan Amount
$250,000
DD RLF Loan Amount, if any
Project Use
Mystic Grill Restaurant
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