Historic Tax Credits: Cotton Exchange

Atlas Real Estate Advisors  /   March 24, 2025

The Cotton Exchange Building in downtown Athens is a standout example of blending historic character with modern functionality. Built in the late 19th century as a center for agricultural trade, this iconic structure has been thoughtfully transformed into a vibrant mixed-use destination. Situated in one of the Southeast’s most dynamic university towns, the project leveraged Athens’ strong economic foundation, including the University of Georgia, a thriving creative sector, and steady population growth.

Investment Thesis-Why This Worked

Prime Location:
Downtown Athens attracts a diverse population, including students, entrepreneurs, and creatives. There is strong demand for small office and boutique retail space in a walkable urban core.

Historic Asset Scarcity:
Repositioned historic buildings in downtown Athens are extremely limited, making this property a rare opportunity.

Multi-Stream Cash Flow:
Income potential spans office, retail, and event rentals, with premium pricing driven by character-rich interiors and a central location.

Tax Incentives:
Eligible for Federal Historic Tax Credits, Georgia State Historic Tax Credits, and local preservation grants.

Appreciation Potential:
Long-term urban growth and in-town asset demand continue to support property value appreciation.

 

Project Highlights

Historic Preservation:

• Original brick façade, exposed wood beams, iron hardware, and soaring ceilings retained
• Redevelopment meets standards for historic tax credits

Modernization:

• Upgraded electrical, plumbing, HVAC, and elevator systems
• ADA-compliant entries and restrooms

Mixed-Use Programming:

• Ground Floor: Boutique retail and restaurant space with direct street access
• Upper Floors: Creative office suites and versatile event spaces
• Tenant-ready with core-and-shell construction and white-box interiors

Parking & Accessibility:

• Nearby street and structured parking
• Walkable urban location

The conversion of the Cotton Exchange is a proven example of how thoughtful redevelopment can preserve historical integrity while delivering modern-day financial returns. Chris Blackmon of Atlas Real Estate Advisors was a critical part of the success of the adaptive reuse of this historical building.

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