Ellijay, 41 North Avenue

Closing Date: March 23, 2018
On March 23, 2018, the Foundation provided a $60,000 loan to the Downtown Development Authority of the City of Ellijay to assist in financing the acquisition and renovation of a former residential building located at 41 North Avenue. The Authority provided a simultaneous loan to Locust Post Properties, LLC, the project's developer. The completed project contains office space for two businesses. United Community Bank is the project's senior lender. The total project cost is $150,000.

Project Details

Loan Recipient
Downtown Development Authority of the City of Ellijay

Sub-Recipient
Locust Post Properties, LLC

Project Cost
$150,000

GCF Loan Amount
$60,000

DD RLF Loan Amount, if any
N/A

Project Use
Occie
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