The Coastal Georgia Foundation has commissioned a thorough and comprehensive assessment of residential market potential in downtown Brunswick. The study has been funded by seven stakeholders who donated a total of $30,000 to the effort. Read The Brunswick News July 23 editorial on the issue.
“We learned about this type of data-driven housing study on our May 30 trip to Macon,” says Paul White, President & CEO of the Coastal Georgia Foundation. “There, the housing study said downtown Macon could absorb ‘200 residential units per year.’ This number became a shared goal for developers, entrepreneurs, lenders and other investors in downtown Macon. We’ve been hearing from our local stakeholders that market data for Brunswick could similarly inform a residential strategy for a vibrant and diverse downtown.”
“Since commissioning our first market study, Macon has leveraged over $135 million in private investment and recruited 1,000 new residents, who are the lifeblood of our revitalized downtown,” says Josh Rogers, President and CEO of NewTown Macon. “The residential market potential study was a great investment for NewTown Macon and we have just completed the third edition to support our local entrepreneurs.”
The funding for this study was raised in one week thanks to the generosity of a handful of stakeholders.
“I am grateful to be part of this impassioned group of public and private sector leaders accelerating the redevelopment of downtown,” says Ryan Moore, President of the Brunswick-Glynn County Development Authority, which helped to fund the study. “The EDA prioritizes workforce development and believes that a vibrant downtown with diverse housing options is critical to attracting and growing the next generation workforce. We are eager to see the results of the study and participate in downtown’s continued success.”
“I am proud to sponsor this study in conjunction with the Coastal Georgia Foundation and other likeminded partners,” says Brad Piazza, owner of Port City Partners LLC, a development firm leading several boutique commercial and residential projects in downtown Brunswick. “The results of this study will be integral to the continued strategic investment, development and growth of our historic city.”
The residential market study will be conducted by Zimmerman/Volk Associates, and supported by the Coastal Georgia Foundation. The results, which will also include an assessment of downtown parking, will be widely publicized and made available by October 1, 2019 to downtown developers, entrepreneurs or anyone who seeks them through the Foundation’s web site.
About the Coastal Georgia Foundation
The Coastal Georgia Foundation was incorporated in 2005, as a tax-exempt public charity created by and for the people of Glynn, McIntosh and Camden counties. The Foundation now has assets over $20 million and has awarded over $14 million in grants, the majority to community organizations in the three-county region and beyond. The Foundation serves ordinary citizens who have the extraordinary vision for a better life for their neighbors, friends, families, and fellow coastal Georgians - today and for future generations. The Foundation seeks to be the region’s trusted source for thoughtful philanthropic counsel, sound financial management and strategic community investment. www.coastalgeorgiafoundation.org