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
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