google-site-verification: google5ae98130f18ad244.html

Saturday, October 20, 2018
   
Text Size

Residential Real Estate

Aug, 16 – City Council Approves Sale of City Broughton Municipal Building

By Lou Phelps, SBJ

August 16, 2018 – At their Thursday afternoon meeting, the City Council approved the sale of the Broughton Municipal Building  located at 132 E. Broughton St., to Columbia Ventures, LLC., by a vote of 5 - 3.  The City sold what they had termed "surplus property" for $4.5 million, used for many years where residents were able to pay their utility bills, as well as for offices. 

In an interview after the meeting, Alderman Van Johnson said that he voted against the sale, "because I believe that we could have gotten more for the property."  There was only one bidder, he believes.  

Long-time Savannah residential and commercial Realtor Dickie Mopper spoke against the sale at that price, saying in effect that the city did cast out a big enough net, and could have attracted additional buyers, an opinion that Johnson echoed. Mopper stated that other recent sales on Broughton St. were for much higher rates per square foot. 

Also after the meeting, Alderman Tony Thomas, who voted against the sale, said it was illogical to sell the building for $2 million below the assessed value.  Thomas has questioned a number of property sales. 

The developer is planning a residentially anchored mixed-use development in an urban area, according to city officials.  “The historic integrity of the building will be preserved while restoring the exterior to its mid-century roots. The proposed Broughton House, which will be a boutique hotel, will provide an anchor to Broughton Street for residents and visitors, officials state, in a press release after the meeting.

The city issued a request for proposal (RFP), which evaluated criteria in addition to purchase price.   The criteria evaluated for this RFP were the qualifications of development team, quality of design proposal, schedule of performance, financial return and economic impact, and commitment to the City’s hiring programs, the Council was told.

The financial return and economic impact of this property sale was determined to have an estimated net present value of $6.4 million which includes the proceeds of the sale and incremental tax revenues in future years, once the development is completed.

Most of the employees who worked at the building have already been relocated to other facilities, including at 1375 Chatham Parkway and 1700 Drayton St.   Two departments remain, the Revenue Department and City auditors.   The Revenue Department will soon be relocated to the Civic Center, and the City auditors will relocate to Chatham Parkway.  

The sale of the building aligns with the City’s ‘Savannah Forward’ strategic plan priority for “Good Government,” it was explained, which has included taking a hard look at city-owned property that could be sold and returned to the tax rolls.   

“The City is moving forward to consolidate operations and city staff to increase efficiencies and put surplus property back on the City’s tax roll,” according to officials

Who is Columbia Ventures, LLC?

The address of company is listed as an Atlanta-based Georgia LLC corporation, with the "Organizers" listed as the Savannah law firm of Hunter McLean Exley & Dunn, organized in 2013.  The law firm is now known as Hunter McLean. 

The company focuses on residentially anchored mixed-use development in urban locations in the southeastern United States, according to their website, "created in collaboration with the principals of the award-winning affordable housing development and property management, originally founded in 1991 by Noel Khalil. 

The company has developed major projects in Decatur, Atlanta and Augusta. 

Comment (0) Hits: 467

More Articles...

  1. Aug. 7 – BREAKING: Leaders Delay Vote on ‘City of Skidaway Island’ Over Technical Issues; But Opposition Was Growing
  2. July 23 - Cora Bett Thomas Realty Home Selected as HGTV Winner of 2018 Ultimate House Hunt
  3. June 14 - HGTV.COM Features Two Cora Bett Thomas Real Estate Historic Homes For Online Ultimate House Hunt Contest
  4. FEATURE - Short-Term Vacation Rentals Ordinances finalized, affecting Savannah’s Historic, Mid-City and Victorian Districts only
  5. Sept. 3 – Parkside Neighborhood in Savannah is taking action to get to the bottom of frequent power outages
  6. Aug. 16 – Board of The Landings at Skidaway to rename Plantation Club and course due to employee objections
  7. July 3 - The Ford Plantation names Tom Draffin Director of Assn. Management
  8. June 27 - Cora Bett Thomas Realty Names Heather Booth as President
  9. FEATURE – Local leaders celebrate ground breaking of a’new breed’ of Senior Living Community
  10. Mar. 6 – Shepherd Health and Cobalt Seniors coming to Savannah Quarters
  11. Mar. 6 – Lynn Dempsey nominated by Governor as Georgia Real Estate Commissioner
  12. Feb. 7 – Mega details on Landings Association’s motives and vision for “City of Skidaway Island,” and the $1.6 to $1.8 they might reap
  13. Feb. 3 – UPDATED: The City of Skidaway? It’s More of a Real Possibility than Many Realize
  14. SBJ SPECIAL REPORT: What HUD Inspection Report on Westlake Apartments Reveals. And, will Chatham County be sued?
  15. Dec. 2 – The Landings on Skidaway Island property owners asked to support $400 assessment to fund cleanup

Page 2 of 172

CLICK to SUBSCRIBE and Support Great Journalism!

Follow Us!

TwitterFacebook

Komento Activities

Guest - Maria Johnson Pleming - Commented on Oct. 25 - Department of Biolog... in Joomla Article
So happy to know the Millen Fish Hatchery will be recognized for the incredible system. Mr uncle Dav...
Guest - Karin Mcgruder - Commented on June 4 - Foram Group Announces... in Joomla Article
Are there any updates on this project?and when will the first apartments be available?
Guest - Hart Williford - Commented on June 28 - Savannah Music Festi... in Joomla Article
Rob will be missed by the entire Savannah Community, he built the Savannah Music Festival to worldwi...
Guest - Daryl Stair - Commented on Oct. 16 - Sonesta Resort Hilto... in Joomla Article
Do you have to be a paying guest to use the Tesla charger?
Guest - JR Lee - Commented on MPC approves plan for new Walm... in Joomla Article
Great, another complex to attract Savannah's finest entitlement minded individuals. Another complex ...
Guest - Jack - Commented on Aug. 23 - Phelps on Politics -... in Joomla Article
"Goose that laid the golden EYE? You're right, that is hard to argue with.
Guest - Robin Sherman - Commented on Jan. 4 – COMMENTARY: New Year... in Joomla Article
Excellent post, Ms. Phelps. Effective government can only occur when the public is informed. Transpa...
Guest - Tao of Me - Commented on Why is Memorial Hospital Being... in Joomla Article
They aren't telling Memorial employees anything about this. A recent survey of the facilities by Nic...
Guest - Genie Brazzeal - Commented on Feb. 24 – Lawyer and former Al... in Joomla Article
Thank you, Mr. Bordeaux! Bring some honesty to this court. No more winking like I experienced.
Guest - Karl - Commented on Feb. 25 - Memorial Hospital’s ... in Joomla Article
Good article. Has a lot of information that is very difficult for "team members"(employees) to find....
Guest - Susan Worthington - Commented on May 13 – UPDATED 11:39 a.m. HC... in Joomla Article
In 1953 there was not such a thing as a trauma or neonatal program. The need for Neonatal Services ...
Guest - Linda Dominy - Commented on June 8 – EDITORIAL: Immediate ... in Joomla Article
As a clinical team member this makes me sad and it would never happen. We can argue politics all day...
Guest - Judy - Commented on Savannah’s Title Max Bankruptc... in Joomla Article
How Tracy Young was allowed to file for bankruptcy or chapter 11 is amazing. Title Max should be ch...
Guest - Samantha Claar - Commented on Aug. 7 - COMMENTARY: Je suis “... in Joomla Article
Pertinent questions that deserve real answers. If upper management - appointed and elected - can't ...
Guest - Ken - Commented on Aug. 6 - Dept. of Labor propos... in Joomla Article
Is this state or federal?
MY ACCOUNT
CONTACT
SOCIAL
MORE
ADVERTISE
Coastal Empire News
Headquarters: 35 Barnard St., Suite 300, Savannah, GA. 31401.
Tel: 912-388-4692 | Hours: 8:30 a.m. to 5:00 p.m.