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‘°;, J. Philip Waring e Guing Places
4 ; 2 Memorial Column
' Pray for our hanks
any of us hope our local
banks will help finance
the Riverfront Center.
Everyone’s help is
needed.
While many parts of Augusta
could stand physical upgradingand
expansion, my thrust today is on
just one important part of our
riverfront. Ifit receives sufficient
local funding by June 1, an al
ready-approved $7,.5 million fed
eral grant will not be lost.
The Augusta Riverfront Cen
ter, located between 9*" and 10*
Streets, and the levee and
Reynolds Street, is already owned
by Bankers First. That bank has
excellent plans for amodern office
tower, luxury hotel, convention
center, and parking garage built
underneath the latter structure.
This center will play an important
part in the final development of
one of our greatest resources — a
varied and diverse seven-to
twelve-mileriverfront complex ad
jacent to the Great Savannah
River.
The big problem, however, has
been the difficulty of getting suffi
cient money and a developer. The
record shows that the Portman
Co. of Atlanta, Rouse Co. of Mary
land, and Webb Co. of Kentucky
all declined as developers. This
problem has been resolved, I un
derstand, becuase bailey & Asso
ciates of Atlanta is now the
project’s development resource.
Still, as I write this (May 10) it
appears that the money problem
has not been solved. :
%fl,Abr-il 6, Monty Osteen, liead
of Bankers First, announced that
an assisting group oflocal limited
partners had been formed to help
in the financing — and this was
the best news ever for Augusta.
For the first time in the current
era, the most powerful group of
business, banking, governmental
and civic leaders agreed to come
together to discuss one project:
the Augusta Riverfront Center.
Most prominent in this gathering
is Morris Communications, owned
by William S. Morrislll. Withthe
possibility of putting part of his
projected Morris Fine Arts Mu
seum in the lower floors of the
office tower, this brings mighty
undergirding to the structure,
which already has more thana 75
percent projected tenant rental.
Augusta Tomorrow, inc., the
quasi-public-private downtown de
velopment agency is in the pic
ture. Three banks — First Union
(former Georgia Railroad), C&S
and Trust Company — are with
the discussions. Other heavy
weights who are seeking to bring
in the S3B million include Merry
Land & Investment, Inc., Kuhlke
Properties and Construction, and
Sherman & Hemstreet, Inc.
So one part of the future of our
KISS-fm, MCG, The
Augusta Focus and Hot
Foods by Calvin
presents
THE 1999 AUGUSTA
JUNETEENTH
FESTIVAL
Fri., June 18th
Dinner at BL’s Restaurant,
1117 Laney-Walker Blvd. Buf
fet dinner from Hot Foods by
Calvin. The fun starts at 6
p.m. Tickets are only $lO and
available at: Hot Foods by
Calvin, 2027 Broad St., and
the CSRA Business League at
Laney-Walker Blvd. Reserva
tions also accepted for pur
chase of tickets at the door.
Call(706) 738-5666 for details.
Also, After Dinner Party with
live KISS 96 broadcast from A
Touch of Class on Damascus
Road.'
A Closer Look
Thefollowingmemorial columnby the late J. Philip Waring was first published for
Augusta Focuson Mayl 11, 1989. We are republishing it so that Mr. Waring's
admirers can reminisce and those who missed his columns can geta glimpse of
recentblack history.
riverfront lies in the hands of
aforementioned local business
leaders, who will use their collec
tive resources to complete an
important new and badly needed
downtown riverfront develop
ment.
It would be most helpful if the
local banks would come through.
I amsuggesting that those whodo
business with our banks urge their
presidents and officers to come
through. Unfortunately, a nega
tive example that is being waved
around by the banks is the finan
cial failure of a newly built hotel
in downtown Toledo, Ohio, located
in what is called the Rust Belt.
However, building in Augusta,
Ga., a historic, vibrant and grow
ing city in the Sun Belt, is an
entirely different situation.
Let’s look at our assets. They
are positive and plentiful — not
like a dying, cold Rust Belt city.
Some of these assets are:
- The fact that Augusta is home
of The Masters golf tournament
and has a dozen golf courses;
- The already considerably com
pleted riverfront — its eastern
seetion containing the splendid
marina, which now affords na
tionally acclaimed regatta and
speed boat races;
-Thesolid year-round economic
base which includes Fort Gordon,
SRS (Savannah River Site), the
huge health and hospital com
plex, as well as the heavy and
light industrial ring;
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- Our stable city and county
governments;
- A large, solid public school
system and several institutions of
higher learning, including the gi
ant MCG establishment;
- Thousands of military person
nel and others whohaveretired to
.Augusta;
-The fact that the city portion of
Riverwalk of Augusta already
draws thousands;
- The historic Cotton Exchange
building, which is currently being
renovated into a visitor’s center;
-The fountain and Cotton Plaza
Square, which add a lot to this
area; and
- The 13-story Port Royal Hotel
which is already being built. (It’s
interesting to me, however, that
the construction isbeing financed
with French money.)
So doughty, brilliant, conserva
tive and successful bank officers,
fear not! Reach out! Be bold, like
Atlanta’s Mills Lane. Take a
chance with Riverfront Center.
Billy Morris, Monty Osteen and
others havejumped in the waters,
and your bank customers will ap
plaud your foresight and courage.
And P.S. ... I forgot to include
among Augusta’s many assets the
coming of the Science Center ad
jacent to Fort Gordon. It will
bring in thousands of visitors
yearly. Its backers have our
prayers and support!
TO BECONTINUED
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