Savannah Sees Big Federal Investments This Week
This week has been quite an exciting time for the lovely city of Savannah, as the community has witnessed some significant federal investments. These enhancements are not only aimed at boosting the local economy but also at making Savannah a greener and safer place to live. From new energy efficiency projects at Savannah Gardens to improvements at the busy Ports of Savannah and Brunswick, the federal government’s efforts are paving the way for a brighter future.
Energy Efficiency Push at Savannah Gardens
One of the notable investments announced this week is a whopping $3.2 million grant aimed at providing climate resilience and energy efficiency renovations to the Savannah Gardens Senior Residences. This grant is part of the Green and Resilient Retrofit Program, funded by the highly talked about Inflation Reduction Act—a key piece of legislation from the Biden Administration.
The goal is to help these residences reach net-zero carbon emissions, improve indoor air quality, and promote zero-emission electricity generation. Victoria White, a long-time resident of Savannah Gardens for 12 years, expressed her gratitude for the changes coming her way. She mentioned how the energy efficiency measures could help lower her utility bills, making it easier for her to cover necessities like medications or groceries. “This means so much to me because it lets you know you are really cared about,” she said.
Green Investments at the Georgia Ports
But that’s not all! This week, the Georgia Ports Authority was awarded $48.7 million as part of the Environmental Protection Agency’s Clean Ports Program, a move that will bring vessel shore power systems to the ports in Savannah and Brunswick. These power systems allow ships to plug into the grid while docked, turning off their diesel engines—a great step towards more eco-friendly shipping practices.
This funding, also backed by the Inflation Reduction Act, shows a commitment to sustainability in our bustling port operations. It’s a win-win situation that will not only benefit our environment but also improve efficiency at the ports.
Community Safety Comes First
Additionally, it was a treat to have Senior White House Advisor Tom Perez in Savannah this week. Perez highlighted the importance of ongoing investments from the Biden Administration, showcasing a celebration for Savannah receiving a $9.9 million Safe Streets for All Grant. This grant is set to fund some essential safety improvements along the bustling 37th Street corridor, making our streets safer for everyone.
The Hyundai Effect on Industrial Growth
The excitement doesn’t stop there. A recent market report from Jones Lang LaSalle Inc. shines a light on what is being referred to as the “Hyundai effect”—a term describing the positive impact of the automotive giant’s new manufacturing plant in the area. The report revealed that Savannah’s industrial real estate market is booming, ranking sixth nationally in filling industrial space since last November. Notably, two of Hyundai’s tier-one suppliers are leasing nearly 1 million square feet of industrial space.
Looking Ahead
Despite a current vacancy rate of around 9%, experts predict that these rates will drop as market demand picks up and works through the existing empty spaces. The construction of industrial sites has decreased significantly, sitting just below 11 million square feet, which is almost half of what it was last year. Nevertheless, absorption rates remain strong, indicating a promising end to the year for Savannah’s industrial sector.
Time to Get Involved
As we see these impactful changes around us, it’s also a timely reminder from Mayor Van Johnson to make your voice heard—especially with the upcoming elections on November 5. Johnson has encouraged everyone to vote, stressing that these investments are tied to our active participation in the democratic process.
If you’ve got any local updates, events, or news tips that could help Savannahians, don’t hesitate to share the love by reaching out via email. Together, we can keep building a stronger, greener Savannah!
