McDonough, Story on the Square

Closing Date: June 12, 2019
On June 12, 2019, the Foundation provided a $250,000 loan to the Downtown Development Authority of the City of McDonough to partially finance renovations to a commercial building located at 19 Griffin Street in downtown McDonough, The DDA provided a simultaneous loan to 19 Griffin Street, LLC, the project's developer. The completed project houses Story on the Square, containing a bookstore, a wine and beer cafe, and a special events facility. Other project financing was provided by Bank of the Ozarks and the Georgia Department of Community Affairs.

Project Details

Loan Recipient
Downtown Development Authority of the City of McDonough

Sub-Recipient
19 Griffin Street, LLC

Project Cost
$2,017,000

GCF Loan Amount
$250,000

DD RLF Loan Amount, if any
$250,000

Project Use
Bookstore, wine & beer cafe, and special events facility
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