Beautification Edition - 1736 Magazine, Summer 2019
Summer 2019
Summer 2019
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Phase 1 also includes renovating the<br />
depot, where 16,000 square feet will be<br />
up-fitted to house retail for $3 million,<br />
similar to Atlanta’s Ponce City Market.<br />
Another 5,000 feet of new retail space<br />
will be built for $1 million. Retail parking<br />
in Deck 1 will include $2.1 million for 80<br />
depot spaces and $666,000 for the new<br />
retail’s 25 spaces.<br />
Due diligence documents for the<br />
project was set for June 30. Bloc Global<br />
met the deadline but request a 60-day<br />
extension to ensure the deal protects<br />
their interests.<br />
“They probably didn’t need to (get the<br />
extension) because they weren’t late on<br />
anything,” Woodard told the Augusta<br />
Chronicle “But in order to protect their<br />
investment, they went ahead with the<br />
extension because they’ve invested<br />
half a million dollars so far in the due<br />
diligence documents.”<br />
The Depot project will be the largest<br />
downtown investment since the<br />
construction of the Augusta Marriott at<br />
the Convention Center and the adjacent<br />
office building housing the Morris<br />
Museum of Art. The Depot project is<br />
eclipsed only by the $200-plus million<br />
public-private investment in the<br />
SRP-Park anchored Riverside Village<br />
development in North Augusta.<br />
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