New Hotel & Cutting-Edge Technology Coming Downtown!
Albany, GA (April 8, 2019) – Albany’s Downtown Development Authority voted to adopt the Redevelopment Plan for 207 Pine Avenue which includes a proposal from J Car Development, LLC to acquire the historic 6-story, 58,000 square foot property formerly known as the Water, Gas & Light Commission building. This downtown project will include a mixed-use development that includes a Boutique Hotel with a well-known and respected hotel flag affiliate (i.e., Marriott, Aloft, etc.) and a state of the art Blockchain Technology Data Center.
This is a $13.6 million “Dual Powered Development Project” that will have several beneficial economic factors that will spark the creation of at least 43 new jobs. The 88 room hotel will have a unique guest rooftop experience, an event center, bar, and restaurant. The blockchain technology data center will provide an opportunity for technology students to obtain valuable experience in a state-of-the-art data center environment.
“As a Developer and Entrepreneur, I thrive on opportunities that connect people, community and technology. Downtown Albany is full of what I call “Untapped Opportunities” and the 207 Pine Avenue property is just one among many of those opportunities. This project will be the first and only one of its kind, and it will integrate technology and development in a way that’s never been done before. We are excited to work with the City to bring this “Dual Powered Redevelopment Project” to Downtown Albany, GA!” said Jason Benedict, J Car Development, LLC.
The project stimulates the platform for a major revitalization of the central business district that has far-reaching impacts on at least three levels. The new development is sure to give new life to an underutilized, strategically located building at the heart of the downtown. The resulting boost to pedestrian traffic will be a welcoming attribute for downtown retail and restaurant businesses. The additional hotel rooms will further cement Downtown Albany and our downtown attractions as an important tourism destination. The totality of these factors continues to make Downtown Albany a great place to work, play and visit.
”This project is a game changer for the City of Albany. It creates both economic impacts and provides a financial return. 207 Pine Avenue has been off the tax roles for well over 40 years. With the development of this project, the tax increments alone are a gain for the City of Albany. We have a win/win with this development, capital investment into downtown Albany, increase in property taxes, and a revenue-generating project. This is the type of project DDA's love to have in the mix,” said Thelma Johnson, Albany’s Downtown Development Authority, Chairperson.
The project will be presented to the City Board of Commissioners at the Tuesday, April 9, 2019, commission meeting.
“The economic energy of the downtown continues to incite investor interest, and the confidence in the direction of the downtown is definitely an essential factor in the project being announced today,” said Lequrica Gaskins, Albany Downtown Manager.
For information on this project, please contact the Downtown Manager’s Office at 229.483.7665.