Local Developer Jeremy Johnson Launches Georgia's First Citizen-Led Development Initiative to Transform State-Owned Hospital into Affordable Housing

AUGUSTA, Ga., Dec. 18, 2024 /PRNewswire/ -- In a groundbreaking effort to empower local residents, real estate developer Jeremy Johnson announces the launch of "Build Augusta," an initiative focused on redeveloping the historic yet underutilized Gracewood Hospital into a vital source of affordable housing.

Situated...in South Augusta, this state-owned property presents a unique opportunity for affordable housing....

Situated on nearly 40 acres at 2051 Tobacco Road in South Augusta, this state-owned property presents a unique opportunity for affordable housing, according to Johnson. "This is just the beginning; there's so much potential here," he noted, gesturing to the expansive site.

Directly across the street lies an additional 760 acres of potential affordable housing, currently stagnant due to state ownership. Build Augusta's initial goal will be to engage citizens and demonstrate the demand for transforming Gracewood into affordable housing.

To address this challenge, Johnson is excited to introduce Garden City Village, a proposed 132-unit luxury condominium project aimed specifically at providing homeownership opportunities for military personnel while remaining affordable for 100% of Fort Eisenhower's active duty service members.

The Build Augusta initiative features a streamlined, five-step process designed to foster active community involvement and ensure that residents' voices are heard throughout the development process:

Citizen proposes an affordable housing idea.

The proposal is presented to a citizens-led Community Development Advisory Board (CDAB).

If approved, the project is reviewed by a city-sponsored independent consulting agency (ICA).

The ICA then guides the citizen through the development process within city departments.

The final development package, which will require a minimal number of presold units to demonstrate project viability, is submitted for a vote by Augusta leadership.

While city leaders have not yet fully reviewed the initiative's specifics, Johnson reports that they have expressed enthusiasm for gathering input from the community before making any decisions. Key community stakeholders are expected to attend.

With Augusta facing an urgent shortage of affordable housing, the timing of the Build Augusta initiative is critical. If successful, Johnson hopes to inspire similar citizen-led redevelopment efforts across the state, ultimately contributing to the resolution of the affordable housing crisis.

For more information, please contact Cheyenne Garner at 706-363-3280 or Jeremy.Johnson@VettedGains.com.

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SOURCE Vetted Investments & Acquisitions