Site plans filed for 305-unit President Street development after warehouse fire

Property Matters Brief

May 10, 2026 – A possible new owner, Louisiana-based Stoa Group, recently submitted a site plan for stormwater, water and sewer infrastructure necessary for a proposed development consisting of 305 proposed multi-family units on the south side of President Street, across from the Eastern Wharf development. The development, dubbed President Square, includes the parcels where an abandoned warehouse had caught fire last year. Fire officials were unable to determine the cause. The city subsequently ordered an emergency demolition of the structures for safety reasons at a cost of about $410,000. The emergency demolition came after the city was unable to contract the property owner to facilitate and coordinate the demolition process, as previously reported. As of May 1, the roughly $410,000 demolition invoice remained unpaid, according to a city spokesperson.

Development of the site has long been planned, but Stoa’s plan was the first indication of a project was still moving forward following the fire and long period of inactivity. The 16-acre siteThe site has been owned by Atlanta-based Riverview President Street LLC since 2017, according to property records. The company’s representatives did not return multiple requests for requests for comment when Savannah Agenda reached out previously regarding the fire bill. The site plan application lists Stoa as the current owner, under “contacts,” although no public records show that the property has changed ownership. Savannah Agenda reached out to Stoa for comment and this article will be updated if a response is received.

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