Augusta Economy

More News | Fort Gordon | Plant Vogtle | Savannah River Site | Editor

Former Olde Town inn to become apartments

  • Follow Local Business

An Olde Town bed and breakfast is getting a new purpose.

Back | Next
The former Vine Inn on Greene Street in Olde Town will be converted into 10 studio apartments. Rex Property & Land is taking on the project.  EMILY ROSE BENNETT/STAFF
EMILY ROSE BENNETT/STAFF
The former Vine Inn on Greene Street in Olde Town will be converted into 10 studio apartments. Rex Property & Land is taking on the project.

Map View

Javascript is required to view this map.

The Victorian home at 334 Greene St., built in the late 1800s, operated as a single-family residence for nearly a century before becoming a bed and breakfast in 1985. The former inn will get new life as developers plan to convert the 3,600-square-foot, two-story building into 10 studio apartments.

“It’s had a steady occupancy since it was built, which is great for historic property,” said Robyn Anderson, the preservation services director for Historic Augusta Inc. “It’s when you get the ones that are vacant for 10 to 20 years … in five years, we’ve got issues. I’ve been in some where I can see through the floorboards or there is no bannister to go up.”

Historic documents show the home’s first occupant was Charles Patrick, a postal clerk for South Carolina Railroad.

The restoration project, expected to cost about $270,000, is made viable by state and federal tax credits available for properties undergoing rehabilitation in historic districts, said Paul King, the general manager of Rex Property & Land, which is taking on the work.

King said that as much as 40 percent of the project will be financed through a low-interest loan by the Georgia Cities Foundation, whose mission is to assist cities in revitalizing and enhancing downtown areas. The remaining funding will come from an investor and First Bank of Georgia.

Historic rehabilitation ventures also are exempt from property taxes, King said.

To receive tax breaks, a developer must retain and repair any “character-defining features,” Anderson said. For the Greene Street property, which was most recently called Vine Inn, this means details such as interior hardwood floors, wainscoting, high ceilings, windows and 10 fireplace mantels will remain.

The roof, front porch and rear exterior wooden siding are in need of repair, King said. Indoors, the most expensive items likely will be installation of fire systems and adding plumbing for laundry areas and kitchens. Each unit, estimated to rent in the upper $500s, will have hardwood floors.

“I think our biggest concern is always the envelope of a building,” King said. “The roof on this place is really our number one. It looks good on the inside. It’s just not functional.”

Work hasn’t started, but the project is expected to take about six months to complete, King said.

Victorian homes are popular in downtown Augusta and the Summerville area, and are often attractive to people because of their larger rooms, high ceilings and large windows, King said.

King said his group has invested in Olde Town since 1983 and manages more than 100 apartments in the downtown neighborhood. Two years ago, he turned a neighboring Victorian bed and breakfast on Greene Street into the Dunbar-Howard House, which consists of 12 studio units that are larger than those soon to be constructed nearby. That structure was in a more deteriorated condition and cost about $600,000 to restore, he said.

“We’re very concerned about the neighborhood always and keeping it healthy and vibrant is something we’re concerned about,” King said. “It’s not always easy. This is a core area right here, so we think it’s real critical.”

Historic Augusta currently has 25 applications underway for historic tax credits in Augusta, which is the most since the nonprofit organization was founded in 1965, said Tennent Houston, chairman of the group’s preservation committee. At least four of those applications are in Olde Town.

Comments (6) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
my.voice
4927
Points
my.voice 05/28/13 - 04:36 pm
1
3
Funny how this gets positive

Funny how this gets positive press in ARC, in Columbia County apartments face a public flogging.

soapy_725
43772
Points
soapy_725 05/28/13 - 06:51 pm
2
0
How many times can the taxpayers
Unpublished

get ripped off in Olde Towne. Those free money "federal tax grants" that are paid by people who will not receive the benefits or the profits from rentals. Ben Dover revisits Olde Towne as a new "entrepreneur".

Have them listed on the historical building list. have them appraised at 200 % of value. Spend 50% of real value to repair. Pocket the profit, taxpayers paid the repairs and you get to keep[ the future rental fees.

Brilliant!!!!!!

Twenty years later it is deja vu, all over again.

countyman
20624
Points
countyman 05/28/13 - 08:27 pm
2
5
Different

I'm glad to see Midtown and Olde Town going strong in 2013.. Hopefully the Laney Walker and Harrisburg neighborhoods can be the next two hotspots.

Olde Town is a urban neighborhood, and they usually attract single professionals, empty nesters, and some young families... Nice apartments/condos always help drive revitalization efforts.. While the majority of the neighborhood is stable, the part near Eastboundary/2nd st is not fully redeveloped yet.

Richmond County and Columbia County are two entirely different places. Richmond County is the second largest county outside of metro Atlanta, and Columbia County is the second largest suburb of Augusta..

The apartment community on Augusta West Parkway in West Augusta was denied recently...

This is another example why the Chronicle needs to stop putting Columbia County beside Richmond.. Their obviouslly not peers, and one is the suburb of the other.

LuvMyTown
2009
Points
LuvMyTown 05/29/13 - 06:17 am
1
0
Certified Historic Rehab Projects NOT exempt from property taxes

These type of projects are initially taxed based on pre-rehab value, but after 8-years go to full market value.

belle
309
Points
belle 05/29/13 - 08:28 am
1
0
apples and oranges
Unpublished

Comparing the construction of an apartment complex which will be filled with hundreds of short-term residents and the conversion of a historic home which will house no more than @ 16 renters is ridiculous. If Columbia County had all these historic homes they would be quite pleased to convert them to save the buildings.

Little Lamb
47002
Points
Little Lamb 05/29/13 - 08:36 am
3
2
Property Taxes

Well, that means that the developer will cash out in eight years and take his taxpayer-subsidized profits. The next buyer will declare bankruptcy a couple of years after that after facing the Augusta tax man.

Little Lamb
47002
Points
Little Lamb 05/29/13 - 08:39 am
1
2
Tiny

Let's see — they're going to take a 3,600 square foot house and turn it into 10 studio apartments. That means ~300 square feet apiece with the remainder absorbed by common areas (entrance and hallways). $500 a month for 300 square feet is a bit steep in Augusta. But, of course, you have the ambience as your consolation. Be careful after dark, though.

Brad Owens
4727
Points
Brad Owens 05/29/13 - 12:17 pm
0
1
"Tennent Houston" huh?

"Historic Augusta currently has 25 applications underway for historic tax credits in Augusta, which is the most since the nonprofit organization was founded in 1965, said Tennent Houston, chairman of the group’s preservation committee. At least four of those applications are in Olde Town."

Is that the "H" in the KHK LLC?

Back to Top

Top headlines

Charges for sex offender

A man convicted of sex charges in Columbia County, who then went to prison for child molestation in south Georgia is back behind bars.
Search Augusta jobs