The homeowners of Augusta’s derelict Regency Mall are proposing a residential and business improvement for the 75-acre website whose plans embody a 32-classroom college and a performing arts middle.
The mall property has been owned for a minimum of 20 years by limited-liability corporations affiliated with Cardinale Administration, primarily based in Mattituck, N.Y.
Cardinale had put the property up on the market in previous years with no takers. When some civic leaders started a push in 2017 to position the brand new James Brown Area on the Regency website, the property was listed on the market at $63 million. Richmond County’s tax assessor on the time valued the property at $4.2 million.
Representatives of Cardinale weren’t current for Tuesday’s announcement.
What does Augusta need in a brand new mayor?:City residents, candidates share views
Crossover Day 2022:State Senate passes bill to address Regency Mall, and other takeaways
The brand new improvement plan was introduced Tuesday morning on the mall website by metropolis mayoral candidate Steven Kendrick, whom voters positioned in a runoff final week with Garnett Johnson. Kendrick, who stepped down as Richmond County Tax Commissioner earlier this yr, was joined by Augusta Commissioners Dennis Williams, Francine Scott and Bobby Williams.
Kendrick declined to take a position on venture prices or on anticipated dates for the venture to start or to be accomplished.
Christopher Booker and Associates and Cranston Engineering are listed as native companions. Kendrick mentioned zoning requests have been submitted to the town. The approval course of is anticipated to take six to eight weeks earlier than going to the Augusta Fee, venture officers mentioned.
The Regency improvement plan, titled Cardinal City Sq., requires the development of 1,000 two-bedroom flats of indeterminate hire.
Different options talked about embody area for a Okay-12 college containing 16 elementary school rooms and 16 high-school school rooms. Plans additionally present a 300-seat, 60,000-square-foot performing arts middle; area for a “small restaurant” masking 25,000 sq. ft; and an 82,500-square-foot “health and recreation” middle.
Although not particularly talked about on the overall improvement plan map, a grocery retailer can be deliberate for the property, based on Kendrick.
The venture at the moment is being funded and developed with personal funds, Kendrick mentioned, however that would change.
“At this level the developer has not requested any incentives for both the town of Augusta, to my data, or the event authority or any company that I am conscious of,” he mentioned. “At this level it’s a personal funding. That’s to not say it doesn’t deserve the correct to petition to do this, however that hasn’t occurred at the moment.
Kendrick is also board chairman of the Augusta Financial Improvement Authority. He mentioned the authority was not approached concerning the venture due to its personal funding.
“The Financial Improvement Authority’s position can be in the event that they’re going to have bonds issued for that,” he mentioned. “At this level that hasn’t occurred, so it wouldn’t be at that stage.”
Kendrick was approached greater than a yr in the past by “somebody who was working with the Cardinale household, and was requested to satisfy to offer some attainable ideas on what can be thought-about for the property,” he mentioned.
“We had these discussions over a number of months, and I quickly realized that this might be an actual game-changer for all of Augusta,” Kendrick mentioned.
The shuttered mall has alternated as a civic white elephant and a political soccer since Regency’s final anchor tenant, Montgomery Ward, left in 2001 after the corporate filed for chapter.
Lately proposals each formal and casual have been floated by native officers and atypical residents on how the mall property might be repurposed. Solutions have included making Regency into an outlet mall; a judicial middle or different authorities workplaces; a sports activities area; and studio area for filmmakers.
Comments
0 comments