CAIRO — The Grady County Joint Development Authority has had success with constructing spec buildings in the past.

And Julian Brown, the executive director, is hoping for more of the same with a third spec building in the Milestone Industrial Park.

Construction is scheduled to begin around Aug. 1 on a 20,000-square foot building at the intersection of Industrial Park Road and Hall Road.

“A spec building is needed when your city is out of available properties,” Brown said.

Having a building ready will allow the JDA to market to a company that needs a building immediately.

The S.C. Barker Construction Company from Valdosta won the contract, which originally was set for just over $1.3 million. The contract calls for a 300-day construction schedule.

Brown said the building would be ideal for a company with 25-50 employees. He added that the property is there for it to grow into a 500,000-square foot building.

SC Barker will construct just the shell of the building. That will allow a company to customize the inside to fit its needs.

The parking lot will not be done, either. The company will be able to choose where it would like the parking lot to be. That reduced the cost of the construction to $900,000.

“I have heard some stories that a company will come in and the parking lot is not where they want it,” Brown said.

The JDA is using a $500,000 loan from the OneGeorgia Equity fund, which is administered by the Georgia Department of Community Affairs.

According to the GDCA, The OneGeorgia (OGA) Equity Fund provides financial assistance to rural communities to help build capacity and the necessary infrastructure for economic development.

The money from the OneGeorgia Equity Fund can be used only for the building, so the JDA also took out loans from four local banks —  Ameris, First National, Capital City and United National — to cover other costs.

Two businesses currently in Milestone Industrial Park — Sailfish Boats and Residential Elevators — began in spec buildings.

“Sailfish has grown, added on to what was originally there,” Brown said.

Kevin Price can be reached at 229-226-2400, ext. 1820