94-Year-Old Building Sold To Tax Software Giant
TaxSlayer will soon have two downtown offices to call home.
One will remain in downtown Evans as part of the overall redevelopment there and one will open in downtown Augusta.
In late June, TaxSlayer bought the Family Y building at 945 Broad Street for $2 Million according to President Brian Rhodes.
Renovations on the 94 year-old building will begin after the Family Y closes in late 2017 with a goal of staff moving in sometime after the close of the 2018 tax season.
“Our support headquarters in Evans will remain there and we’ll move our administrative, marketing and software development staff downtown to join the technology growth that downtown Augusta is undergoing,” added Rhodes.
TaxSlayer expects approximately 100 employees to work from downtown Augusta with approximately 50 support team members staying in Evans—joined by about 300 seasonal workers during tax season.
Blanchard and Calhoun Real Estate Co. represented TaxSlayer in the building’s sale.
“This is a big deal for downtown Augusta,” said Blanchard and Calhoun Vice President Davis Beman.
“When you have a national company like TaxSlayer come downtown it shows how the infrastructure is ready for other companies to follow.”
He said when companies move their staff, buildings are renovated to a higher standard and it brings more value to properties.
Jordan Trotter Commercial Real Estate represented the Family Y in the sale. “It’s great to see private investment flow into downtown in the past few years”, said Partner Dennis Trotter.”
TaxSlayer was founded in Augusta in 1965 as the tax preparation business Rhodes-Murphy & Co. It ventured into software development in 1989 to enable the company to complete tax returns by computer. It later marketed its software first to tax professionals, then to the public nationwide.
The Family Y pool is closed and the 4th floor workout room will be consolidated into the basement and 1st Floor workout areas.
The Family Y administrative offices will remain on the 2nd and 3rd floor until late August.
The 1,100 Family Y members can still use the basement and 1st floor facilities until the end of 2017.
President and CEO Danny McConnell said the Y could announce within 30 days where the nonprofit organization will relocate downtown.
“Strategically our organization is at a crossroads,” he said. “Our Downtown Y needed a facelift and deserved a facelift. This building deserves to be maintained at a high level, and it was time to spend some money on it.”
The Family Y calculated that the cost to maintain the current downtown facility approached $3 million. If features were added that are available at newer Y branches, the cost rose to more than $5 million.
With a new occupant, the building also will re-enter the property tax rolls, McConnell said. As a nonprofit, the Y paid no taxes on that property.
Augusta Chronicle business writer Joe Hotchkiss contributed to this article.