Dahlonega, Smith House Cottages

Closing Date: October 13, 2017
On October 13, 2017, the Foundation provided a $209,245 RLF loan to the Dahlonega Downtown Development Authority to assist in financing the acquisition of 174 North Grove Street and the renovations of 174 and 198 North Grove Street in downtown Dahlonega. The Authority provided a simultaneous loan to F. Welch Investments, LLC, the project's developer. The complete project will serve as lodging cottages for the historic Smith House Inn.

Project Details

Loan Recipient
Dahlonega Downtown Development Authority

Sub-Recipient
F. Welch Investments, LLC

Project Cost
$321,915

GCF Loan Amount
$209,245

DD RLF Loan Amount, if any
N/A

Project Use
Lodging cottages
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