Austin-based real estate investment firm Lincoln Ventures last week proposed a mixed-use development, at 558 West Broad Street, immediately adjacent to the currently under-construction The William student housing project.
Lincoln Ventures, which has properties in Phoenix, Atlanta, Gainesville, and San Antonio, presented a project that would consist of over 350 units combining multifamily and student housing options as well as 15,000 square feet of retail space that would face West Broad Street, east of downtown Athens.
The proposed unit mix would be 18 percent studio, 23 percent one-bedroom, 25 percent two-bedroom, nine percent three-bedroom, 15 percent four-bedroom, and 10 percent five-bedroom units.
The proposed building would include a public plaza along West Broad Street aimed to activate the commercial space on the building’s ground floor. Further, the building would have an integrated six-story parking structure with access points on Newton Street and N Finley Street.
Notably, Lincoln Ventures proposed setting aside 10 percent of the units to affordable/workforce housing at 80 percent of Adjusted Median Income (AMI) which has been a consistent theme among projects approved by the Athens-Clarke County Planning Commission in recent years.
The project would require the demolition of the Courtyard Marriott property located at 166 N Finley Street as well as the Phi Kappa fraternity house located at 558 West Broad Street, the address the development would inherit.
Lincoln Ventures has not responded to a request for comment.