New condos and retail space are planned for the former Woolworth building, which has been vacant since 1992.
Atlanta-based Redstar Development will begin renovations this summer, possibly in July. The $2.5 million project includes 15 second-floor condos and street-level retail space. The renovations should take 10 months, said project manager Vince Williams.
"We took the property because of its location and size, and we thought it would be a good start. We're looking at other buildings in Augusta to possibly do some additional work on, depending on how this deal goes," Mr. Williams said.
The developers are "talking to big-box tenants," but they will most likely split the 20,000-square-foot retail space into four or five spaces, he said.
"Our project is going to look a little different for Augusta, but it's going to still be keeping with the same style, just with a modern twist," Mr. Williams said.
Plans for the project have not been filed with the city.
Mr. Williams said Augusta native Nobel Benefield introduced the group to the area. They were pleased with property finds.
"We really like Augusta for its stability and proximity to the river and neighboring cities and states," Mr. Williams said.
The development company has completed similar projects in Atlanta, Los Angeles, Miami and Baltimore.
Reach LaTina Emerson at (706) 823-3227 or firstname.lastname@example.org.