TLH Development Newsletter: 08/10/2018
Two Local Developers Secure CRA Funding
Two homegrown development projects in Southside recently maneuvered through the Community Redevelopment Agency grant funding process and secured funds intended to increase the viability of their redevelopment projects. The left image above is Rhettro Development's concept for its FAMU student housing units which it will construct at
. Rhettro Development estimates a development cost of $1.6 million and was given a $250,000 grant.
The second project, pictured above on the right prior to renovations, is the redevelopment of an abandoned apartment complex at
. The owner, Greenleaf Twin, LLC has already secured and partially refurbished large portions of the building and plans to use the funds to complete the renovations of the formerly dilapidated building. Greenleaf Twin estimates hard costs of $680,000 and received a grant of $75,000. It should be noted about both projects that the (separate) developers have roots in Southside and are choosing to reinvest in and revitalize their own neighborhoods.
Geek Sources Inc.
This project is the proposed conversion of a vacant, hollow building at 1900 South Monroe into modern, commercial office space. The firm proposing the development is GeekSI, a company which offers IT and engineering services.
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Chick-fil-A crowding the coop?
According to Growth Management's permitting database that the Atlanta-based corporation, Chick-fil-A is purchasing the building just down the street at 1660 W Tennessee Street in order to demolish it and construct a new stand-alone drive-thru restaurant.
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506 All Saints
A developer is currently seeking a setback deviation in order to construct a mixed-use building at 506 All Saints Street. The developer is proposing a two-story building with a recording studio on the first floor, and three one-bedroom apartments on the second floor.
2011 South Adams
A pre-submittal filed for a project at 2011 South Adams offers a dramatic and ambitious redevelopment of the site. The project proposes altering the existing older office space into a multi-faceted event space and entertainment venue. The developer plans to demolish all of the non structural walls to open up the building and use the shell for event use and kitchen space.
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