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Augusta Economy

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Augusta firm building 240-unit apartment complex

Thursday, Oct. 4, 2012 2:12 PM
Last updated 7:33 PM
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CarMax is finally getting a neighbor.

An Augusta real estate development firm has started preparing the site for a high-end, 240-unit apartment complex on Mason McKnight Jr. Parkway in west Augusta.

The community will be called Gateway Crossing Luxury Apart­ments, and infrastructure work is under way, said Peter Caye III, the managing partner of The Giddings Group LLC. Caye said there will be a groundbreaking with city leaders Oct. 17.

Giddings Group is putting the apartments on 13.5 acres. The first building is expected to be finished in the spring, Caye said, with the construction completed in 12 months.

“We hope to turn our first building by April, and then we’ll get a building probably every 30 days thereafter,” he said.

Gateway Crossing will begin leasing in January, offering one- to three-bedroom apartments ranging from 650 to 1,400 square feet. The buildings will be three stories tall. Amenities will include a resort-style pool with cabana, health club/quality fitness center and business center.

Caye said Giddings Group has been an equity partnership firm for years. The Augusta community will be its first.

“Looking to do three to four deals a year all over the Southeast, as far north as Virginia,” Caye said. “It is pretty neat that we can do this in our own town.”

The properties will be managed by Provence Real Estate, a national management firm based in Atlanta.

The general contractor is Hathaway Construction Services, also of Atlanta.

“We have many years of experience in this market and are looking forward to a successful lease-up of this property,” said Art Lieb, the managing partner of Provence.

CarMax has been open since 2010, and there have been rumors since of other developments in that area, such as sporting goods chain Gander Mountain.

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Willow Bailey
20580
Points
Willow Bailey 10/05/12 - 07:34 pm
1
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WIth no skin in the game....

I just don't get why someone who admittedly pays no property taxes in any county gets so angry over other commenter opinions of the political, economical and social matters of the CSRA. I guess it's tied to employment and a misplaced case of personal responsibility somehow.

Nobody's blaming you, okay?

Willow Bailey
20580
Points
Willow Bailey 10/05/12 - 09:00 pm
1
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As to bragging rights over

As to bragging rights over all the commercial development, I much prefer the undeveloped look and the wildlife. When we first moved to Evans, I rarely passed another car until I was at least ten miles from home and that was a little chunk of heaven. Still live in the woods, but it takes only about a quarter of a mile to hit the traffic and some think that's progress:(

lsmith
105
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lsmith 10/06/12 - 09:52 am
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The car-max corridor was
Unpublished

The car-max corridor was originally intended to be a commercial corridor. Of course that didn't work out, I-20 visibility, access and neighborhood surroundings didn't help any. Not to mention the area is reclaimed "swampy land". We call the access road "Galloping Gertie" after the Tacoma narrows bridge that collapsed. You definately have to be careful traversing it.
I never applaud the construction of apartment complexes (especially large ones) as they nearly always tend to attract a lot of negative elements but I also realize that they are a reality, land lords got to make a living too. Would have preferred to see this complex located more in Richmond County where the Richmond County swat team, narcotics unit, vice squad, k-9 unit and homicide squad are better experienced than our Columbia county neighborhood watch groups, but.........alas urban creep will eventually cover us all as surely as kudzu still holds reign in the south after 70 years of steady proliferation. Just wish it were confined to countyman's utopian paradise, he constantly needs something to gush about it. It doesn't take much more than a new out house built downtown to get his leg tingling "Chris Matthews" style........

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