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Historic Rehabilitation Tax Credits from Enhanced Capital Support Economic Growth in Macon, GA

November 10, 2020 Macon , GA

Enhanced Capital is excited to partner with IDP Properties and Mainsail Lodging & Development to rehabilitate the Bankers Insurance Building, a historic high-rise in Macon, GA. Constructed in 1939, the building once stood as the tallest between Miami and New York. Enhanced Capital provided $4 million in financing through Georgia Historic Rehabilitation Tax Credits to transform the historic building into a Marriott Tribute Hotel and support the local Macon community.

The newly renovated Marriott Tribute Hotel is part of a 30+ independent upscale boutique hotel collection launched in April 2015. The hotel will offer amenities that incorporate retail and commercial space, bar, lounge, and rooftop patio.

The Bankers Insurance Building is one of the few remaining historic high-rise buildings in Macon and a valuable part of downtown. The restorations to convert the building into a new 11-story, 94-room Marriott Tribute Hotel will help to support the Macon economy through  job creation and tourism.

“We are proud to be a part of a project that will bring new life to this historic building and advance downtown development,” said Dusty Dickerson, Director at Enhanced Capital. “Additionally, we are excited to play a role in the preservation of the culture and history in Macon.”

The new Marriott Tribute Hotel is located at 682 Cherry Street and plans to open in late 2021 or early 2022.

About IDP Properties

IDP Properties is a full-service real estate development firm that invests in and redevelops communities. They specialize in development, acquisitions, property management, construction management and consulting.

They take pride that each project they develop is as diverse as the communities they serve. They believe their purpose is to strengthen communities and leave a lasting positive impact.

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About Mainsail Lodging & Development

Mainsail Lodging & Development is a dynamic, established company that enjoys the flexibility and agility of an entrepreneurial start-up. President Joe Collier and his leadership team have created a high-performing environment that emphasizes collaboration and communication between employees, partners, and investors.

More about Mainsail Lodging & Development