DownTown Savannah - Business Is Good!

I recently received an update from The Savannah Development and Renewal Authority, SDRA, regarding Broughton Street development and plans for improvements.

Broughton Street is a main thoroughfare in Downtown Savannah lined with businesses (retail, restaurants, personal services, professionals services and condos. Years ago many businesses moved away from Broughton Street to Southside Savannah, but in recent years Broughton Street and Downtown Savannah as a whole have seen a major revitalization. The SDRA report shows healthy numbers of long-term business that are growing in revenue and size.

SDRA reports:

“ Since 2000, more than $150.8 million in private investment has occurred in the Broughton Street Urban Redevelopment Area supporting the opening of 135 net new businesses, the creation of 598 net new jobs. This overwhelming private investment has resulted in a monumental increase in commercial appraised property values in the 12-block redevelopment area-jumping from $97 million in 2001 to more than $210 million in 2006 .”

A comprehensive streetscape plan has also been approved along with a plan to provide better lighting, especially in alleys and lanes.

Watching this process unfold has been exciting. I remember a time when Downtown Savannah seemed on the verge of imploding. But slowly and surely, with baby steps and gradual change, and now some major changes,the downtown area is lively, diverse and dynamic.

The Ellis Square project, which I will report on shortly, is going to add a huge benefit to this dynamic change, along with The Savannah River Landing development project I recently wrote about. The Ellis Square project will transform the
City Market area, adding to the renewal and beautification of an already beautiful city.

For more information on condos and commercial possibilities, email Mike@MikeFarmerRealty.com

Mike from Savannah