19.08.2019 Views

Beautification Edition - 1736 Magazine, Summer 2019

Summer 2019

Summer 2019

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

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 />

66 | <strong>1736</strong>magazine.com<br />

0818_T_64_AM____.indd 66<br />

7/29/<strong>2019</strong> 4:26:59 PM

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!