Valdosta, IDA Building

Closing Date: August 19, 2019
On August 19, 2019, the Foundation provided a $250,000 loan to the Central Valdosta Development Authority to partially finance renovations to a commercial building located at 121 & 123 N. Patterson Street in downtown Valdosta. The Authority provided a simultaneous loan to IDP Building, LLC, the project's developer. The completed project houses street-level commercial space and upper-level office space. Other project financing was provided by Colony Bank and the Georgia Department of Community Affairs.

Project Details

Loan Recipient
Central Valdosta Development Authority

Sub-Recipient
IDP Building, LLC

Project Cost
$3,125,268

GCF Loan Amount
$250,000

DD RLF Loan Amount, if any
$250,000

Project Use
Office and Commercial
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