Search for:
About
Board of Directors
Staff
Contribute
Programs & Services
Revolving Loan Fund
Georgia Downtown Renaissance Partnership Programs
Renaissance Strategic Visioning & Planning (RSVP) Program
Downtown Renaissance Fellows Program
Georgia Economic Placemaking Collaborative
Heart & Soul Downtown Workshop
Awards
The Development Sessions
Projects
Search
Projects
Monroe, Sparrow Hill Inn
Closing Date: August 29, 2014
In August 2014, the Foundation provided a $215,615 GCF-SSBCI loan to MG Alignment, LLC for the acquisition and renovation of a historic building located at 410 East Church Street in downtown Monroe. The completed project houses a boutique bed & breakfast inn and special events facility, Sparrow Hill Inn. The total project cost is $695,532. Sources of project financing include a $347,776 bank loan, the $215,615 GCF-SSBCI loan, a$62,598 loan from DCA, and $69,553 of Borrower’s equity participation.
Project Details
Loan Recipient
MG Alignment, LLC
Sub-Recipient
N/A
Project Cost
$695,532
GCF Loan Amount
$215,615
DD RLF Loan Amount, if any
$62,598
Project Use
Bed & Breakfast Inn and Special Event Facility
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