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 Baptist Collegiate Ministries Building Redevelopment

CCI Real Estate has successfully acquired $67 million in construction financing intended for the redevelopment of the Baptist Collegiate Ministries (BCM) building located on the University of Georgia (UGA) campus in Athens. The financing, provided by Affinius Capital, will enable the transformation of the existing site into a modern mixed-use development.

Completion Timeline and Project Details

The redevelopment project, which is named 290 Lumpkin, is expected to reach its completion by June 2027. This new eight-story building is designed to serve as the new home for the UGA BCM, providing both updated facilities and essential services for university students.

Residential and Commercial Features

One of the key highlights of the 290 Lumpkin development will be its impressive 240 residential units, consisting of both one- and two-bedroom apartments. Alongside private accommodations, the building will feature a variety of planned amenities that aim to improve the overall living experience for its residents.

Amenities to Enhance Student Life

• A 356-space parking deck for convenient vehicle access.
• A rooftop deck offering residents a place to relax and enjoy the view.
• A student lounge for socializing and studying.
• Dedicated office spaces for managing administrative tasks.
• Ministry spaces designed to accommodate over 500 people.

The ground floor of the building is also set to feature several commercial spaces. Plans include retail outlets that cater to student needs, a coffeehouse for casual meetings and study sessions, and a fitness center which adds to the overall convenience and lifestyle options available to residents.

Historical Significance of BCM

The BCM, originally located at 450 S. Lumpkin St., has had a substantial presence on the UGA campus since 1961. The redevelopment initiative signifies a major step forward in enhancing the support and resources available to students involved in campus ministry and community activities.

Additional Redevelopment Initiatives by CCI Real Estate

In addition to the UGA project, CCI Real Estate is actively engaged in similar redevelopment efforts at other prominent universities. This includes projects at the Georgia Institute of Technology in Atlanta, and Georgia Southern University in Statesboro, Georgia, highlighting CCI’s commitment to enriching university environments through valuable development projects.

Conclusion

The redevelopment of the Baptist Collegiate Ministries building at the University of Georgia marks an important milestone in both campus ministry and residential life. With an emphasis on modern living, community engagement, and student amenities, the 290 Lumpkin project is poised to become a focal point for student life at UGA.

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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