Monroe, 116 W. Spring Street

Closing Date: April 7, 2020
On April 7, 2020, the Foundation provided a $169,490 loan to the Downtown Development Authority of the City of Monroe to assist in financing the acquisition and renovation of a two-story commercial building located at 116 W. Spring Street in downtown Monroe. The Authority provided a simultaneous loan to 2nd Floor, LLC, the project’s developer. The completed project contains leasable commercial and office space. The total project cost is $423,725. Additional project financing was provided by Synovus Bank.

Project Details

Loan Recipient
Downtown Development Authority of the City of Monroe

2nd Floor, LLC

Project Cost

GCF Loan Amount

DD RLF Loan Amount, if any

Project Use
Leasable Commercial Space
Foundation Project Impacts
299 New Downtown Businesses
1728 New Jobs Downtown
$147 Million in Private Investments
8 Cultural Facilities
288 Downtown Housing Units
157 Hotel Units Downtown
1,352,805 Redevelopment Floor Area sf
200,267 New Construction sf