History and Overview of Downtown Augusta’s Olde Town Neighborhood

The Olde Town Neighborhood is located in Downtown Augusta, between 5th Street and East Boundary, and from the River to the Cemeteries on Watkins Street.  Originally known as “pinch gut” the neighborhood was originally built in 1737 as the original neighborhood of Augusta.  Almost the entire neighborhood was burned in the great fire of 1916, and most of the buildings date from 1917-1920.  Both Broad and Greene had streetcar tracks in between the lanes, which have now become linear parks.  The neighborhood has experienced a renewal in the past 10 years as demand for housing close to the urban core, coupled with great infrastructure and amenities has made it downtown’s neighborhood of choice.

One of the things that has made Olde Town so popular is the Traditional Neighborhood Design (TND).  Measuring about 4 city blocks by 6 city blocks, the neighborhood is easily walkable in 10 minutes.   Almost all the streets in Olde Town have sidewalks, and the median parks contain pet waste stations.  The streets are lined with trees, and almost all homes have front porches, and anytime you go out you will run into your neighbors. A short bike ride will take you anywhere in Downtown Augusta and the Medical District.

The buildings in Olde Town represent a wide variety of different styles, from Craftsman to Victorian, and the construction from that era is quite sturdy.  The homes are generally built on piers over crawl spaces, balloon framed, with thick framing and structural decking.  Many of the homes feature intricate woodwork and columns.

Olde Town is also an incredibly diverse neighborhood—of 991 housing units in 2018, 37% of them are single family homes, 44% are duplex-quadplex, and 19% are in apartment buildings!  Typical lots in Olde Town are quite narrow, ranging from 40-80 feet, with an average being 55 feet.  This contributes to an amazing diversity of residents, from young people to elderly, black and white, owners and renters, rich and poor.

Olde Town contains a number of wonderful neighborhood amenities.  Heritage Academy, a private Christian school located in the Historic Houghton Schoolhouse, is located on Greene Street.  The Fox’s Lair, where neighbors gather at the neighborhood pub, is located on Telfair Street.  Christ Community Health Services, a community health center providing medical and dental care, provides quality healthcare to the families in Olde Town.  The Savannah River is the neighborhood’s northern border, and moments away for kayaking and paddle boarding, with easy access to the marina and boat house.

Olde Town residents enjoy a strong demand for short term rentals.  Augusta is the home to the largest Ironman Triathlon in the united states, and Olde Town’s boat house is where the triathletes transition on their bikes.  Every year, triathletes fill the neighborhood, and residents line the street to watch the runners come down Broad and Greene Street.   Augusta is also home to the world’s premier golf course, and being a straight shot down Broad street to the course, Olde Town owners enjoy hosting golf patrons every April.

3rd Quarter 2019 Olde Town Market Update

There are a lot of good things happening in Olde Town!  I had the privilege of turning over the role of President of the Olde Town Neighborhood Association to Bob Trescott, who’s been serving as Vice President.  As the father of five and brand new twins, I needed to trim my commitments, but I was encouraged to see lots of new and excited people with fire and energy to move the neighborhood forward!   

As far as real estate goes, many homes are under renovation and we’ve seen some notable sales driving up the prices.  The Renaissance Apartments at Third and Broad were foreclosed on by HUD last week, and likely will be sold as market-rate apartments in the next few months–that will be great for the neighborhood. We’ve definitely seen the prices rising–in 2016 and 2017 the average price per foot was (38) per square foot, and in 2019 so far it is (72) per square foot!  We are definitely seeing Gentrification is coming to the neighborhood. Also Olde Town Apartments is continuing to renovate and lease units.  

 

Recent Notable Sales in Olde Town:

102 Third Duplex, Sold to Jeremy Rueggeberg for $165,000 on 5/16/19

222 Ellis, Sold to Kelsey Kalyta for $122,870. (Not yet Recorded, should be soon)

220 Broad Sold to James Demons for $61,465.  They are already renovating and this will be a great home.  

224 Greene, Sold to Emily Beatty for $139,000 (Not yet Recorded, should be soon)

235 Broad. Sold to Shivaun Delisser for $115,000 (Not yet Recorded, should be soon)

Under Contract: 307 Broad.  This was listed by Atul Sinha, appears to be under contract at almost full price.

Under Contract: 224 Broad.  This duplex is under contract at almost full price, and should be closing in the next two weeks. 

 

Rents are also rising.  We’re estimating a $0.20 PSF increase on average across rental units in Olde Town over the last 2 years.  

 

Here’s links to two properties we have listed in Olde Town:

407 Third Street

260 Reynolds Street 

 

What are you seeing in Olde Town?  Are you a resident or tenant?  How has the neighborhood changed?  What changes have you seen?