Swift-Galey, a portfolio company of Patriarch Partners, owns an 88 acre, former textile manufacturing facility in Columbus, Georgia. Columbus, Georgia is experiencing a population infusion of 30,000+ residents from a BRAC realignment under the Military Base and Closure Act. The property is in a great commercial location, but needed to be re-concepted for redevelopment.
A strategic marketing plan was created that divided the property into three economic units; 1) a commercial unit; 2) a multi-family residential site, and; 3) a residual parcel which was offered to the local school district to accommodate their need for more classroom seats from the BRAC initiative.
The company offer to donate the residual parcel to the school district in exchange for them paying for certain infrastructure requirements for the redevelopment of the balance of the site.
Additional benefits were created by working with the local planning department to adopt a mixed-use zoning overlay that would allow a large commercial power center and multi-family apartments.
Our recommendations took an old, 400,000+ sf unusable, unproductive industrial building that was costing the company hundreds of thousands of dollars, and turned it into one of the most desirable development parcels in the Southeast.
The company was also able to accelerate the timing for approvals for redevelopment and minimize the cost of getting the approval as a result of the donation of the school site.