100 Prince Avenue

Athens, GA (2018)

100 Prince Avenue

Grocery and Fresh Food, Historic Rehabilitation, Housing, Mixed-use, Retail, Retail and Commercial

The redevelopment of the former St. Joseph's Catholic Church into a mixed‐use site.

Investment

NMTC Amount: $17,150,000
Total Project Cost: $20,779,492

IMPACT

40 FTE jobs
38 construction jobs
34 affordable housing units, grocery store added to Food Desert
20,357 sq. ft. of real estate

CDEs

Enterprise Community Partners, Grow America

Investor

Chase

Project Description

The 100 Prince project is the redevelopment of the former St. Joseph’s Catholic Church into a mixed‐use site that includes: 34 housing units (10 units was affordable @ 80% AMI); a grocery space; three small shop spaces. The retail portion of the project consists of construction and development of 20,357 sq. ft. of retail space with subsidized rent space for a Piggly Wiggly Express (10,000 sq. ft.) and other subsidized retail/restaurant space (10,357 sq. ft.).

MAP

Address: 100 Prince Avenue, Athens, GA 30601

Census Tract: 13059001900

Voices from the Community

“100 Prince was an opportunity for our team to bring affordable housing, grocery and local retail to an urban food desert which suffers from high rents and had not seen multi-family residential construction in over ten years. The project financing was complex, and without the New Markets Tax Credit subsidy, this project wouldn’t have gotten off the ground. Throughout the process, Cherry Bekaert’s strategic financing team was instrumental in arranging the NMTC sources and guiding our team along with myriad funders through to a successful closing.”