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Macon-Bibb County, 535 Second Street
Closing Date: September 30, 2016
In September 2016, GCF provided a $250,000 RLF loan to the Macon-Bibb County Urban Development Authority for the rehabilitation of a commercial building located at 535 Second Street in downtown Macon. The Authority provided a simultaneous loan to Poplar Street Lofts, LLC, the project's developer. The completed project contains one commercial space and nine residential apartments. CenterState Bank is the project's senior lender. The total project cost is $765,600.
Project Details
Loan Recipient
Macon-Bibb County Urban Development Authority
Sub-Recipient
N/A
Project Cost
$765,600
GCF Loan Amount
$250,000
DD RLF Loan Amount, if any
Project Use
Commercial building
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