Augusta Lofts
EXECUTIVE SUMMARY
Property Overview
Augusta Lofts is a 96 - unit mixed income planned apartment development located on a 2.74 acre parcel in Augusta, Georgia . The unit mix will be 63 one bedroom units , 28 t wo bedroom units , and 5 three bedroom units . The property will produce mixed income with an additional 8,571 sqft of commercial space. The commercial space will include office spaces, small shop spaces, and a kitchen bistro/restaurant space . All units will be sold at full market rate.
Long term construction to permanent financing terms are extremely favorable at an interest rate of 3.35% for 480 months with loan to cost at 85%. The property is positioned in walking distance to the bank of the River and downtown Augusta. The property is central to local schools, churches, community center/service buildings, restaurants, and a wide variety of shopping center s. A large courtyard will be central to the property, providing options for picnics, outdoor activities, gathering spaces for families and the community.
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