The Marshall House at 901 Broad St. has served many purposes in its more than 120 years, but renovations are bringing it back to its role as a mixed-use residential and commercial space.
According to Historic Augusta research, the Marshall House was built in 1884 and served as a hotel, grocery store, boarding house and mercantile store in the 19th and 20th centuries. The building is now occupied by Guarantee Finance and Sit-A-Spell Coffee.
The $1.2 million renovation will create nine apartments and 4,300 square feet of commercial space.
“The mixed-use facility is very much the historic pattern of Broad Street,” said Tom Robertson, one of six partners at Marshall House Partners LLC, which owns the building. “We want to take the building back
to one of its historical appearances.”
The building’s location at the corner of Broad Street and James Brown Boulevard was a significant asset, Robertson said, especially in light of the expected completion of the Trade, Exhibit and Event Center later this summer.
“We’ve always been very interested in downtown revitalization, and this is one thing we can do to help that along,” Robertson said.
The partners have been approved for a $250,000 Georgia Cities Foundation loan by the Downtown Development Authority, and authority Executive Director Margaret Woodard said the project is great news for downtown.
“With a 99 percent occupancy rate downtown, this is a great addition to our inventory,” she said.
The loan is the 10th by the Georgia Cities Foundation loan to a downtown Augusta project, and Woodard said the program has been extremely helpful to developers. Banks are not able to loan as much as they have in previous years, she said, so developers have relied on the foundation loans to make up the difference.
“It’s been excellent. It really helps in the crunch we’re in right now,” Woodard said.