Beautification Edition - 1736 Magazine, Summer 2019

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The long-vacant Woolworth’s store sits boarded up at the corner of Broad and Eighth streets. [DAMON CLINE/THE AUGUSTA CHRONICLE] 83,000-square-foot Penney building, the largest of her vacant properties. “I realize the significance some of my buildings have on the landscape of downtown,” Ruben said in the statement. “We are going to start with the J.C. Penney Building and find the right fit. I appreciate the history of Broad Street and want to put life back into our downtown. I trust the team at Jordan Trotter Commercial Real Estate and know with their hard work and knowledge of the business and far-reaching client base that they will find the right tenant.” Marketing of the property is being headed up by Jordan Trotter agents Parker Dye and Holton Brinson. The two plan to focus on investors well-versed in federal opportunity zone and historic preservation tax credits, which would be necessary to make the building’s renovation and occupancy financially feasible. Dye said uses for the building run the gamut. Offices, apartments, condos, a boutique hotel — everything is on the table. “We’re not specifically going after multifamily developers and we can’t just target cyber and defense contractors. It can be 25 different things,” he said. “Obviously, I think a retail ground floor with residential above is VIBRANT continues on 24 22 | 1736magazine.com 0818_T_10_AM____.indd 22 7/30/2019 12:32:10 PM
CASE STUDY: PERRY, N.Y. Rick Hauser was looking for a small town in upstate New York, between Buffalo and Rochester, to set up his architecture firm. The village of Perry seemed to fit the bill for the Cornell University graduate. Its main street, though half-vacant, was charming. The president of In.Site: Architecture set about finding a place to lease, but he encountered only disinterested property owners. “He would go to one building and the owner would say, ‘No, I can’t do that because I’d have to fix my roof.’ He’d go to the next person and they’d say, “No, I’d have to rewire the building,’ " said Ed McMahon, a fellow at the Urban Land Institute, which uses Hauser’s story as something of a case study. “These were people who did not understand the difference between ‘spending’ and making an ‘investment.’ " Hauser then tried to get a bank loan to purchase a building, but lenders turned him down, citing downtown’s high vacancy rate. So in 2005, Hauser decided to finance a purchase himself. He formed a partnership called Main Street LLC. He sold shares in the venture to friends, family and even construction contractors, who offered in-kind services, such as plumbing, drywall and electrical work. His group of three-dozen investors bought a two-story, 10,000-square-foot building on the town’s main street and renovated it into space for his office and other commercial tenants on the ground floor. Hauser converted the 124-year-old building’s top floor into loft apartments – something the 3,500-person village had Perry, N.Y.-resident Rick Hauser converted this 124-year-old building’s top floor into loft apartments – something the 3,500-person village had never seen before. [SPECIAL PHOTOS] never seen before. “They practically leased up overnight,” McMahon said. Hauser’s Main Street partnership has since acquired eight more buildings. And he’s now the town’s mayor. “It goes to show there is a market for downtown living and working in every small community in America,” McMahon said. 1736magazine.com | 23 0818_T_23_AM____.indd 23 7/29/2019 4:18:30 PM
Page 1 and 2: EDITION ISSUE 4 | SUMMER 2019 THE R
Page 3 and 4: 64 A PRODUCT OF CONTENTS 45 4 PICTU
Page 5 and 6: Augusta banker and amateur photogra
Page 7 and 8: LEFT: Vacant buildings on the 900 b
Page 9 and 10: ON THE STREET DOWNTOWN IS AUGUSTA
Page 11 and 12: Loop Recruiting co-owners Jason Ken
Page 13 and 14: FACES OF DOWNTOWN 1 Joe Edge [DAMON
Page 15 and 16: FACES OF DOWNTOWN [DAMON CLINE/THE
Page 17 and 18: FACES OF DOWNTOWN [MICHAEL HOLAHAN/
Page 19 and 20: FACES OF DOWNTOWN [MICHAEL HOLAHAN/
Page 21: FACES OF DOWNTOWN 5 Rob Wynn TAKING
Page 25 and 26: appraised value; owners of vacant p
Page 27 and 28: IN FOCUS The J.C. Penney Building O
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Page 31 and 32: VER Springfield Village Park Crysta
Page 33 and 34: RIGHT: Edkesha Anderson, program ma
Page 35 and 36: An Operation Clean City sign posted
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Page 39 and 40: The ‘other’ downtown North Augu
Page 41 and 42: An artist rendering depicts a re-la
Page 43 and 44: A downtown North Augusta property r
Page 45 and 46: I.M. Pei displays a large-scale mod
Page 47 and 48: The building at 600 Broad St. that
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Page 55 and 56: By DR. ANGELA D. PRINGLE Superinten
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The estate “is not going to win a
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1736 LOVERS LANE ▲ Price: $1.8 mi
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531 JAMES BROWN BOULEVARD Rental ra
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