Sherman and Hemstreet Announces the Sale of "Enclave Development" on James Brown Boulevard
Sherman & Hemstreet Real Estate Co. is proud to announce that it has brokered the sale of the Enclave Development located at the corner of James Brown Boulevard and Dantignac Street. The development was started in 2008 by ANIC (Augusta Neighborhood Improvement Corporation) and stalled out after selling only 4 units. The four units that were built sold in the $135,000 to $140,000 price range. The project has sat idle for the last 10 years.
In November of 2018 Sherman and Hemstreet Broker and President, Joe Edge, sold the remaining assets of ANIC which included the Enclave Development to an investor. That investor subsequently hired Edge to sell off the Enclave to a residential developer. The project was on the market only a matter of weeks before going under contract and closing shortly thereafter.
Joe Edge, President of Sherman & Hemstreet stated that “the new developer has plans to restart the project which should include some type of mixed use. The plans are not finalized yet, but the goal is to create a mixed-use development that includes some commercial space along James Brown Blvd while having housing on the rest of the block. Density in the housing component will help drive the demand for commercial space in that area.”
The Enclave is a very unique project that has great potential to help the Laney Walker / Bethlehem area. The proximity to Dyess Park will help walkability and is a great amenity to the area. Edge stated, “there are more exciting projects coming to the area around Dyess Park. Most interest in the area is being led by a demand for housing in the entire downtown area. Developers are looking at this part of downtown as a way to provide quality affordable housing while being able to utilize the commercial potential along James Brown Boulevard between Broad Street and Laney Walker Boulevard.”