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 Redevelopment of Baptist Collegiate Ministries Building at UGA
CCI Real Estate has officially secured $67 million in construction financing aimed at the redevelopment of the Baptist Collegiate Ministries (BCM) building located at the University of Georgia (UGA) in Athens. The financing, provided by Affinius Capital, marks a significant step in transforming the existing BCM structure into a modern mixed-use facility.
The redevelopment project, designated as “290 Lumpkin,” is expected to substantially enhance both student life and community engagement on campus. Construction plans indicate that the new building will rise to eight stories and is anticipated to be completed by June 2027.
Facilities and Amenities in the New Development
The 290 Lumpkin development will house the new BCM facilities along with a variety of residential units and amenities. In total, there will be 240 residential units featuring both one- and two-bedroom apartments. These units are designed to meet the growing housing demands of students and residents in the area.
In addition to residential spaces, the project will include several well-thought-out amenities, such as:
- A 356-space parking deck, accommodating students, faculty, and visitors.
- A rooftop deck, providing scenic views and a social gathering space.
- A student lounge, designed as a comfortable space for study and relaxation.
- Offices for BCM administrative functions.
- Ministry spaces that can accommodate over 500 people, facilitating gatherings and community events.
On the ground floor, the development will cater to both residents and the surrounding community with:
- Retail space for shops and services.
- A coffeehouse, creating a welcoming environment for students to gather.
- A fitness center, promoting health and wellness among residents.
The History of BCM
The Baptist Collegiate Ministries has been an active presence on the UGA campus since 1961, originally located at 450 S. Lumpkin St.. The relocation and redevelopment aim to modernize BCM’s facilities and enhance its ability to support the spiritual and social needs of UGA students.
Other Projects by CCI Real Estate
In addition to the redevelopment project at UGA, CCI Real Estate is also involved in similar undertakings at other educational institutions, including the Georgia Institute of Technology in Atlanta and Georgia Southern University in Statesboro, GA. This expansion highlights the company’s commitment to improving student living conditions and providing quality facilities across the state.
The forthcoming 290 Lumpkin project stands to be a transformative addition to the UGA campus, aiming to enrich the academic and social experience for students while providing a state-of-the-art facility for BCM’s ongoing mission.
Deeper Dive: News & Info About This Topic
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
