Hutcheson Property Market Study and 2023 EXECUTIVE SUMMARY

The Catoosa County Public Facilities Authority (PFA) engaged researchers from the University of Georgia’s Carl Vinson Institute of Government to evaluate the feasibility of alternative uses for the Hutcheson Building property. Institute researchers assisted the PFA in identifying potential uses for the site that would be compatible with the local vision for the surrounding community, likely to be sustainable over the long term, and supportive of additional economic opportunity.

The Hutcheson Building site is located at 100 Gross Crescent Circle in the city of Fort Oglethorpe. The current facilities include 8 primary buildings, several storage outbuildings, two large parking areas, and some undeveloped greenspace. The current facilities total just under 300,000 square feet. At the time of the report, the site is owned by the county and leased to the CHI Memorial Hospital until a new hospital is constructed, beginning within the next few years.

Two alternative uses for repurposing the Hutcheson Building were identified: (1) a senior adult living community and (2) a continuous care retirement community (CCRC). The primary distinction between the two options is that CCRCs provide residents with all levels of aging care and memory care, but senior retirement communities cater only to active senior adults. The research team estimated renovation costs, along with revenues and operating expenses, for the Hutcheson Building with and without an aging care or memory unit, assuming debt service payments at the current 8.25% prime rate.