Real Estate Developer Plans Luxury Condos on Gracewood Hospital Site for Military Housing
A new plan from Vetted Investments & Acquisitions aims to convert Gracewood’s aging East Central Georgia Regional Hospital campus into 132 luxury condos. The homes will house military personnel stationed…
If successful, luxury condos being built on the Gracewood site would be the beginning of a huge change to the Augusta housing market.
Image Courtesy Vetted Investments & AcquisitionsOn December 18, 2024, real estate developer Jeremy Johnson released a proposal about establishing a "luxury condominium project aimed specifically at providing homeownership opportunities for military personnel while remaining affordable for 100% of Fort Eisenhower's active-duty service members."
The project, dubbed "Garden City Village," will exist amongst Gracewood campus' 420 acres, currently home to a 163-bed care center housing individuals with developmental disabilities and a 40-bed skilled nursing facility.
While city officials support the idea, final approval depends on a full assessment. The land has been home to Gracewood State School and Hospital since 1921.
This development fits Johnson's broader plans to repurpose unused state properties in addition to the Gracewood site.
According to the Augusta Chronicle, construction on Lyman Street began in November 2024 when Johnson launched part of his Tenured Educators Affordable Community Housing initiative. His project built new homes through a special teacher-focused program, hoping to attract more educators to Richmond County's school system.
His initiative, dubbed Build Augusta, focuses on redeveloping a 40-acre state-owned lot at 2051 Tobacco Road near Deans Bridge Road.
