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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
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