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A proposed new speculative building to be constructed at Milestone Industrial Park will soon be a reality thanks to a low interest loan from the state of Georgia.
Grady County Joint Development Authority executive director Julian Brown announced Friday that the J.D.A. had been awarded a OneGeorgia Equity Fund loan for $500,000, which the authority will invest in a new 20,000 square foot facility at the intersection of Industrial Drive and Hall Road, near Performance Food Group’s facility.
“This building is on the smaller end of spec. buildings, but it is designed to be easily expandable up to 200,000 square feet.
Brown said he is in the process of reviewing civil engineering for the site work and will put the project out to bid with general contractors very soon.
The balance of the total project costs over and above the $500,000 from the OneGeorgia Authority will be borrowed from local financial institutions, all of whom have agreed to participate in the loan.
The authority is also looking to expand city sewer to serve this facility and that will be part of the overall construction project.
Brown said he is hopeful that construction can begin later this year. He said that there are currently no available buildings that he can use in marketing the community for potential development.
“This is great news for our community,” Brown said.