Macon-Bibb County, Cherry Street Partners Project

Closing Date: April 9, 2008
In April 2008, the Foundation closed a $132,000 loan to the Macon-Bibb County Urban Development Authority for the renovation of a two-story building located at 571 Cherry Street in downtown Macon. The UDA provided a simultaneous loan to Cherry Street Partners, LLC, the project';s developer. The completed project now houses street-level commercial space, second story office and residential space, and leasable space for a "Green Room" for the adjoining Cox Capitol Theatre.

Project Details

Loan Recipient
Macon-Bibb County Urban Development Authority

Sub-Recipient
Cherry Street Partners, LLC

Project Cost
$330,000

GCF Loan Amount
$132,000

DD RLF Loan Amount, if any
N/A

Project Use
Commercial/Office/Residential
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