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Macon-Bibb County, 497 Second Street
Closing Date: March 31, 2020
On March 31, 2020, the Foundation provided a $200,000 loan to the Macon-Bibb County Urban Development Authority to assist in financing renovations to a two-story commercial building located at 497 Second Street in downtown Macon. The Authority provided a simultaneous loan to G&A Central Georgia Properties, LLC, the project’s developer. The completed project houses a restaurant/bar on the first floor and an axe-throwing establishment on the second floor. The total project cost is $500,000. Additional project financing was provided by Renasant Bank.
Project Details
Loan Recipient
Macon-Bibb County Urban Development Authority
Sub-Recipient
G&A Central Georgia Properties, LLC
Project Cost
$500,000
GCF Loan Amount
$200,000
DD RLF Loan Amount, if any
N/A
Project Use
Leasable Commercial Space
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