News Summary
CCI Real Estate has secured $67 million in construction financing for the redevelopment of the Baptist Collegiate Ministries building at the University of Georgia. The project, named ‘290 Lumpkin,’ will feature an eight-story mixed-use facility with 240 residential units, amenities including a parking deck, rooftop deck, student lounge, and retail spaces. Scheduled for completion by June 2027, this redevelopment will enhance campus life and provide essential resources for students and faculty.
CCI Real Estate Secures $67 Million for Redevelopment at UGA
CCI Real Estate has successfully obtained $67 million in construction financing for a significant redevelopment project at the University of Georgia (UGA) in Athens. This funding will transform the Baptist Collegiate Ministries (BCM) building into a modern mixed-use facility.
The financing for this initiative comes from Affinius Capital, a relevant partner in the construction financing realm. Designed to enhance the campus environment, this redevelopment effort will be managed by New South Construction, serving as the general contractor for the ambitious project.
Project Overview
The redevelopment endeavor is named “290 Lumpkin” and will comprise an eight-story building that not only accommodates BCM’s new location but also introduces a wide range of residential units. Specifically, the project will feature a total of 240 residential units, available as one- and two-bedroom apartments. These new living spaces aim to provide students and faculty with modern, comfortable residences close to the heart of campus life.
Amenities and Features
In addition to residential accommodations, 290 Lumpkin is poised to offer numerous amenities that appeal to the UGA community. Planned onsite features include:
- A 356-space parking deck to manage student and visitor parking needs
- A rooftop deck for relaxation and social gatherings
- A dedicated student lounge that fosters a sense of community
- Office spaces for BCM and other organizations
- Ministry spaces capable of accommodating over 500 people
The ground floor of the structure is particularly exciting, featuring:
- Retail space for local businesses and services
- A cozy coffeehouse for students to gather and study
- A fully equipped fitness center to promote health and wellness
Historically Significant Location
The original BCM site was located at 450 S. Lumpkin St. and has been a part of the UGA campus since 1961. This relocation and redevelopment represent a significant step forward for BCM, providing enhanced facilities while deepening their commitment to student support and community engagement.
Future Developments
This redevelopment is not CCI Real Estate’s first venture in collegiate spaces. The company is also engaged in similar projects at the Georgia Institute of Technology in Atlanta and Georgia Southern University in Statesboro, Georgia. These developments indicate a growing trend of enhancing student life through modern facilities that cater to the needs of today’s learners.
Completion Timeline
The project is set for completion by June 2027, aligning with the increasing demand for student housing and service spaces at UGA. As the plans unfold, it is anticipated that “290 Lumpkin” will significantly impact the UGA campus and surrounding community, providing essential resources and modern living options for the future generations of students.
In summary, the redevelopment of the Baptist Collegiate Ministries building marks an important milestone in the evolution of the University of Georgia’s architectural landscape, positioning itself as a hub for student activity and community engagement.
Deeper Dive: News & Info About This Topic
Additional Resources
- REBusiness Online: CCI Real Estate Secures $67 Million for Redevelopment at UGA
- Flagpole: UGA Economists on Housing Shortage
- The Red & Black: Ellen McLemore on Athens Real Estate
- Norada Real Estate Investments: Georgia Housing Market
- Online Athens: Doge Terminates Federal Real Estate in Georgia
- Wikipedia: University of Georgia
- Google Search: Georgia Housing Market
- Encyclopedia Britannica: Georgia (United States)
- Google Scholar: Student Housing University of Georgia
- Google News: University of Georgia Housing
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