Valdosta, Covington's Expansion Project

Closing Date: August 23, 2006
In August 2006, the Foundation provided a $225,000 loan to the Central Valdosta Development Authority for the renovation of two buildings on Patterson Street. One building contains a restaurant while the other has space for catering and rental business on the first floor and the owner's residence on the second floor.

Project Details

Loan Recipient
Central Valdosta Development Authority

Sub-Recipient
Cox Restaurant Enterprises Ltd.

Project Cost
$1,125,000

GCF Loan Amount
$225,000

DD RLF Loan Amount, if any
$225,000

Project Use
Commercial/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