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Macon-Bibb County, Cherry Street Partners Project
Closing Date: April 9, 2008
In April 2008, the Foundation closed a $132,000 loan to the Macon-Bibb County Urban Development Authority for the renovation of a two-story building located at 571 Cherry Street in downtown Macon. The UDA provided a simultaneous loan to Cherry Street Partners, LLC, the project';s developer. The completed project now houses street-level commercial space, second story office and residential space, and leasable space for a "Green Room" for the adjoining Cox Capitol Theatre.
Project Details
Loan Recipient
Macon-Bibb County Urban Development Authority
Sub-Recipient
Cherry Street Partners, LLC
Project Cost
$330,000
GCF Loan Amount
$132,000
DD RLF Loan Amount, if any
N/A
Project Use
Commercial/Office/Residential
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