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Bainbridge, Bon Air Hotel
Closing Date: February 26, 2015
In February 2015, the Foundation provided a $250,000 loan to the Downtown Development Authority of Bainbridge for the acquisition of the historic Bon Air Hotel in downtown Bainbridge. The DDA provided a simultaneous loan to Bainbridge Enterprises, LLC, the project’s new owner. The historic property houses six street-level commercial spaces and ten residential apartments. The total acquisition cost was $835,000.
Project Details
Loan Recipient
Downtown Development Authority of Bainbridge
Sub-Recipient
Bainbridge Enterprises, LLC
Project Cost
$835,000
GCF Loan Amount
$250,000
DD RLF Loan Amount, if any
N/A
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