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Statesboro, 30-36 West Main Street
Closing Date: September 21, 2017
On September 21, 2017, GCF provided a $250,000 RLF loan to the Downtown Statesboro Development Authority for the acquisition of a commercial building located at 30-36 W. Main Street in downtown Statesboro. The Authority provided a simultaneous loan to Brannon Road, LLC, the project’s developer. The building houses three commercial spaces and nine residential apartments, with 2-3 additional apartments being planned. The acquisition cost was $1,410,000. Other lenders included Bulloch First Bank and the Georgia Department of Community Affairs.
Project Details
Loan Recipient
Downtown Statesboro Development Authority
Sub-Recipient
Brannon Road, LLC
Project Cost
$1,410,000
GCF Loan Amount
$250,000
DD RLF Loan Amount, if any
$250,000
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