CCI Real Estate Secures $67 Million for UGA Redevelopment

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 UGA Building Redevelopment

CCI Real Estate has procured $67 million in financing for the redevelopment of the Baptist Collegiate Ministries (BCM) building at the University of Georgia (UGA) in Athens. This significant investment is aimed at transforming the existing facility into a vibrant mixed-use development known as 290 Lumpkin.

The funding for this project has been provided by Affinius Capital, marking a substantial step forward in the construction and renovation landscape at UGA. New South Construction has been appointed as the general contractor, responsible for overseeing the construction operations of this ambitious redevelopment project.

Scheduled for completion by June 2027, 290 Lumpkin will rise as an eight-story building, dedicated to serving the needs of students and the larger UGA community. This new structure is set to become the new home for BCM, an organization that has been a part of UGA’s campus since 1961 and was previously located at 450 South Lumpkin Street.

Residential Units and Amenities

The development will consist of 240 residential units, providing a range of living options that include both one- and two-bedroom apartments. Beyond the housing, the project is designed with a comprehensive list of amenities that will cater to students and the local population alike.

Among these amenities are:

• A 356-space parking deck to accommodate the needs of residents and visitors.
• A rooftop deck offering stunning views and a social space for occupants.
• A student lounge designed for relaxation and socialization among residents.
• Office areas for student organizations and administrative work.
• Ministry spaces capable of holding events for over 500 people, fostering community gatherings and spiritual activities.

Ground Floor Features

The ground floor of 290 Lumpkin will be strategically designed to enhance the overall environment, including:

• Retail space to support local businesses and provide convenience for residents.
• A coffeehouse, serving as a communal hub for students to gather and study.
• A fitness center to promote wellness among residents.

This redevelopment initiative not only aims to modernize the BCM’s facilities at UGA but also stands as a potential catalyst for further development in the area. It aligns with current trends that prioritize mixed-use spaces designed to foster community interaction while addressing the housing demands of student populations.

In addition to the UGA project, CCI Real Estate is also actively working on the redevelopment of BCM buildings at other institutions such as the Georgia Institute of Technology in Atlanta and Georgia Southern University in Statesboro, Georgia. These projects highlight a growing commitment to enhancing the facilities and campus experiences at major universities across the state.

Future Impact

The construction of 290 Lumpkin represents a significant investment in the future of student living in Athens, Georgia. With a mix of residential, retail, and community spaces, this project is anticipated to not only support the unique needs of UGA students but also offer a desirable living environment that blends convenience, connection, and community.

The redevelopment project stands as a testament to UGA’s commitment to fostering an engaging campus life while addressing housing needs, ensuring that students have access to modern facilities that promote both academic success and personal growth.

As construction progresses toward its 2027 completion date, the anticipation surrounding 290 Lumpkin is likely to increase among students, faculty, and community members alike. The development aims not just to serve immediate needs but to contribute positively to the student experience at UGA for years to come.

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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