Topgolf planning to come to Augusta

Topgolf coming to Augusta is great news! The guys at Presley were just talking about what a great fit they’d be in this market, and the village at Riverwatch is a perfect place for them, alongside other regional retail like Cabela’s, Costco, and Guitar CenterJordan Trotter Commercial Real Estatehas done a great job with that development. Also see press release below from March where TopGolf announced a new smaller footprint concept that would allow it to enter secondary markets–prior to this their minimum footprint would have been 13 acres. Great for Augusta!

Chronicle Article: 
https://www.augustachronicle.com/…/topgolf-planning-venue-i…

Top Golf website: https://topgolf.com/us/

Press Release on new smaller footprint Top Golf venues for smaller markets: http://www.golfincmagazine.com/…/topgolf-compete-bigshots-s…

#loveaugusta #topgolf #retail #cre #multifamily

Freddie Mac now offering Fixer-Upper Mortgage Product

Freddie Mac announced yesterday a new mortgage product that will allow borrowers to buy fixer-uppers and finance renovation costs with the same loan. Existing homeowners can use it to repair or improve their homes. This loan product also allows investors to purchase a single-family home and renovate it without living in it, but would require them to live in a 2-4 unit building. This product is more flexible than an FHA 203k in that it doesn’t require consultant approval. This is a great new option for neighborhoods such as Laney-Walker North Historic DistrictHarrisburg-West End Historic District, and Olde Town Neighborhood Association. Tag someone looking buy a fixer upper, or a mortgage broker that may be offering this new product!

Washington Post Article: https://www.washingtonpost.com/…/freddie-mac-is-now-offerin…

Housingwire article: https://www.housingwire.com/…/49371-freddie-mac-announces-f…

Fannie Mae Homestyle factsheet (similar loan from Fannie Mae): https://www.fanniemae.com/…/homestyle-renovation-overview.p…

Freddie Mac Press Release: https://freddiemac.gcs-web.com/…/freddie-mac-announces-choi…

#loveaugusta #opportunityzone #oldetown #fixerupper

Just Listed! 1.37 Acre Commercial Corner

Presley Realty is proud to exclusively present this 1.37-acre corner site for sale in Downtown Augusta. Originally consisting of several tracts, which have been assembled for this sale, the property is zoned B-2 Commercial. The property could potentially be configured as two parcels, for sale together or separately, a 0.62 acre corner lot alongside an existing 0.75-acre auto sale / shop building, making the total development acreage available 1.37 acres.

Grovetown Land Consulting

Grovetown land lots sold for 140% of asking price! Check out our infographic to see the challenges and results.

Opportunity Zone Knocks

CSRA’s First Opportunity Zone Deal

The century-old duplex at 420 Second St. will likely never make the cover of Better Homes and Gardens or win any historic-preservation awards. But it’s noteworthy nonetheless. The 1,200-square-foot cottage in Augusta’s historic Olde Town neighborhood is believed to be the first property in Augusta to take advantage of federal “Opportunity Zone” tax benefits created last year under the Tax Cuts and Jobs Act of 2017.

The new provision, coupled with the decades-old federal historic preservation tax credit, gives investors tax incentives to re-invest unrealized capital gains into economically-distressed census tracts. Tracts selected last year by Georgia Gov. Nathan Deal and South Carolina Gov. Henry McMaster cover wide swaths of Richmond and Aiken counties.

Pyramid Music Listed for Sale Downtown

Downtown Commercial Building Listed for Sale

Presley Realty is proud to exclusively present this 11,136 SF building in Historic Downtown Augusta. Known as the Pyramid Music building, this represents an amazing redevelopment opportunity. Consisting of three stories, with a mezzanine in the rear of the first floor, and ideal offices on the second and third, this would be ideal for retail or office redevelopment. The ground floor is currently used as record store, and the top two floors are not occupied. The building is located in a historic district and a renovation of this building could likely qualify for state and federal historic tax credits.

Located in the epicenter of growth at 822 Broad Street across from the Augusta Commons – one of Augusta’s main locales for festivals and events such as Arts in the Heart, Westobou Art Festival, and the Hispanic Festival The 800 block of Broad Street is located directly between major new developments including the $94 million dollar redevelopment of the Augusta Railroad Depot, and the $111 Million development of the Georgia Cyber Center. This property is located in an Opportunity Zone and potentially eligible for special tax incentives.

Focus on Sweetwater

Presley Develops 277 Acres at Exit 5 of I-20

The Sweetwater Trade Area of North Augusta includes Sweetwater – a 277-acre mixed-use, master-planned community located off Exit 5 of I-20 in North Augusta, SC that includes multi-family, single-family, medical, professional, and retail space.

With Presley serving as the master developer, this project eventually came to comprise Sweetwater Square with Walmart Supercenter, Holiday Inn Express, State Farm, GNC, Verizon, and many more; and nearby are University Hospital Prompt Care, SRP Federal Credit Union headquarters; Sweetwater Commons, a neighborhood with 250 luxury rental cottages; and hundreds of new additional residential rooftops. The Sweetwater trade area continues to grow with commercial spaces being developed, and with several forthcoming announcements about new residential projects.