This study represents the first of four anticipated phases of study to analyze the feasibility of a Sports and Entertainment Complex in Downtown Augusta, Georgia.  The study has been prepared by Rosser International, Inc. performing site and budget analysis in association with CSL International, performing market and financial analysis.  This initial phase reviewed the suggested site for the proposed facilities and analyzed that site for the feasibility of a sports and entertainment complex in the Downtown Augusta area.  Subsequent phases will perform more in-depth market and economic impact analysis, develop financing alternatives, and develop more specific conceptual layouts.

The suggested site is currently occupied by the Georgia Golf Hall of Fame’s Botanical Gardens (The Botanical Gardens), a state-owned facility roughly bounded on the south by Reynolds Street, on the north by the Savannah River levee, on the east by 11th Street and on the west by 13th Street.  The Botanical Gardens, were initially constructed in 1995 and included a park with varieties of flowers as well as statuary dedicated to golfing greats.  A building to house an actual Golf Hall of Fame was envisioned but never constructed.  Over the intervening years, maintenance of The Botanical Gardens has been inconsistent and the operations of this idyllic facility have been reduced to a few hours weekly.  Portions of the overall site have been left undeveloped and are used for parking and special events.  In a prominent location near Broad Street — the center of Downtown Augusta — and facing the Riverfront, this property is underutilized.  The opportunity to elevate this area of downtown and in turn spur surrounding economic development has suggested to the committee that this is the most logical site for a public-spirited development to maximize the site’s potential.  The primary components of such a complex would be facilities that could serve all the people of Augusta and the State of Georgia, and include improved access to The Botanical Gardens along with improved ongoing maintenance thereof, additional access to the Augusta Riverfront and interconnection with other Riverfront properties (including the planned Trade Event and Exhibit Center between 10th Street and James Brown Boulevard), the possible provision of a Golf Hall of Fame Building to support The Botanical Gardens, a new Baseball Stadium for Augusta which would include meeting spaces, restaurant and food service facilities and retail outlets, all addressing the City, and collateral developments such as hotels, parking facilities, office facilities and residential facilities.  An overview of available environmental and archeological studies suggests that any issues resulting from these studies, when performed in more detail, will be minor.  Their accomplishment, however, is recommended on a timely basis as it may take some time for the site analyses.  Similarly, any reviews of effects on the actual Riverwalk wall may require reviews by the Corps of Engineers, and that effort should also be undertaken on an expeditious basis when the project moves ahead.

The revitalized area will include several aspects financed through public-private partnerships, allowing development of the collateral areas by private entities to expand the tax base of the area and support the mission of The Botanical Gardens area.  Thus, the overall goal of the anticipated project is to identify the direction the public component should take to allow the supporting private investment with the best overall results for the people of Augusta and the State of Georgia. 

Phase 1 of the study permits the City to engage with the State to seek a Transfer of Ownership of the entire Botanical Gardens property to the City.  This transfer will allow improved maintenance of The Botanical Gardens by the city, making them more accessible to the general population, allow for other improvements in the area to support The Botanical Gardens, and potentially replace components of the property by the private sector to spur development first on this property and subsequently in the entire downtown area.

Phase 1 has explored several key questions with the following results:

Is a mixed-use development for this property the highest and best use?

Based on comparisons to other downtown areas of similar demographic nature to Augusta, a complex that includes a baseball park would be very successful in a number of ways.  It would potentially bring upwards of 350,000 patrons a year into the downtown area, patrons who will encourage additional restaurant and entertainment facilities and add to tax revenues.  Facilities within the baseball park and along the river -- meeting spaces, food and beverage areas and the like — can be utilized year round, resulting in a mixed-use facility that will operate continuously.  This will increase security of the area and improve Downtown Augusta’s image as a destination.  Collateral uses, such as retail, hotel, office and residential functions would be privately developed and, if so, will only be improved by their proximity to the multi-use ballpark.  This in turn suggests a high probability of success for these ventures, and will result in spill-over development in the surrounding blocks.  This additional development potential may suggest the potential of a TIF or TAD district that would provide much of the long-term financing for the public side of the partnership.  Given these positive attributes and based on a very limited analysis of the project components, this overall complex approach appears to be the highest and best use for this property.

Will a baseball & public-private mixed-use development be financially successful on this site & create long-term economic benefits?

Given the correct sizing of the ballpark as well as provision of proper amenity packages, the ballpark would be very successful in this location.  The availability of substantial parking within a several block radius, the potential for year-round use of many stadium components and the potential to create a new street face to an empty area of Reynolds Street all suggest opportunities for financial success in this location.  In addition, the proximity to large affluent residential areas in North Augusta, SC opens a market which is currently under-realized. The success of the existing Ballpark at Lake Olmstead is a tribute to the team operators, as that facility lacks all amenity components, does not have multi-usable attributes and does not promote surrounding activities as it is only provides game day (70 events per year) function.  The proposed downtown location can not only provide these attributes but can also function more successfully during non-traditional baseball game times, offering a variety of exhibit-style events on the concourses and plazas, concert events in an amphitheatre setting and meeting events.  Given the history of success at the remote site on Lake Olmstead, this site promises greater opportunity for the baseball operation and in turn drives the success of the collateral private ventures.

Will a complex consisting of a new baseball stadium, supporting retail, food & beverage & meeting spaces, office, hotel, residential & supporting parking facilities fit on the site so as to allow continued and improved park operations?

The overall site, including The Botanical Gardens, is approximately 17 acres; the area indicated on the conceptual site plans utilizes approximately 10.7 acres, maintaining the primary Botanical Gardens Park area intact.  With the extension of 12th Street to form a new “cul-de-sac” access to the Riverwalk, approximately 7.1 acres east of 12th Street can be used for the ballpark as well as retail frontage facing Reynolds and toward the new 12th Street extension, a new plaza addressing the Gardens, and access to a proposed Hall of Fame.  This positioning of the Ballpark gives it a street presence, while allowing the street image to be one of a series of more typical commercial enterprises — in short, not a “Ballpark on the street,” but a “Ballpark nestled within a development.”  The remaining 3.6 acres can be developed as the 12th Street extension and are shown on the conceptual site plan to include parking structures, a hotel near the Riverwalk and a possible office or residential development above the parking facility.  These collateral developments are envisioned as being private-sector financed and driven, and thus may change shape or elements to best match a development pro forma.  But the presence of the Ballpark and its positive elements, plus the new retail, will create areas that have enhanced security and destination appeal and, as such, would maximize the development potential of this site component.  As a result, the Ballpark, with its multi-use aspects, as well as the new Riverwalk access and the project components to be private-sector developed, are all feasible on this site area.

(It is important to understand that these three issues have been evaluated on a preliminary basis without the comprehensive due diligence that is expected to occur in Phases 2 through 4.  Detailed analysis will provide a more comprehensive review of the first two questions addressed above. Based on this initial scope of study, our findings to date indicate that the proposed sports and entertainment complex does fit the suggested site, provides potential for a successful baseball operation along with collateral development and, taken altogether, represents the highest and best use of the site.)

Project General Features

The Ballpark features several attributes, including fixed seating for approximately 4,600 and terrace areas accommodating an additional 700 more.  Riverwalk access routes both along the new 12th Street extension and along the outfield wall off 11th Street are also contemplated.  At ground level, retail shell space facing Reynolds  Street has a small parking area available off 11th Street, and additional retail areas along 12th Street have street parking available.  The Golf Hall of Fame may occupy one of these outlets, or may be part of the private-sector component across 12th Street extension, opening to a plaza that reaches The Botanical Gardens entry.  Behind these retail areas would be team support spaces, opening to the field as well as meeting spaces open to the plaza.  Proposed at the end of the new 12th Street on the stadium side is a themed restaurant, located at the spectator concourse level above the street, approximately in line with the Riverwalk.  This restaurant would be open year round, with access from the 12th Street cul-de-sac below via stair and elevator and from the Riverwalk.  On the concourse, a variety of terrace and plaza areas would support year-round events and gatherings and be usable on baseball game days. On the club level above the concourse, a collection of leasable spaces would also allow year round use.  These would include 10 skyboxes, 4 party suites and a club area with seating for approximately 400.  These areas would allow daily use for groups and may involve displays from the Hall of Fame to further that facility’s mission.  If the Golf Hall of Fame is built across 12th Street in the private sector development, a bridge connector to the stadium may be considered and the two facilities may share entertaining and meeting space functions.

The proposed budget for development east of 12th Street for the basic multi-use stadium development suggests a construction cost of $25,570,000 and soft costs (including fees, contingencies, FFE budget allowances) of approximately $6,310,000 for a total Ballpark development cost of $31,830,000.  In addition, development of programmed building space for a Golf Hall of Fame component within the Sports Complex has a projected construction cost of $2,930,000 with total project cost including soft costs (but not exhibit fit out) of $3,750,000.  The Infrastructure for development of the new 12th Street extension, the Riverwalk access, the Gardens entry plaza, improvements of the Riverwatch itself from the stadium to 13th Street, and general improvements to the Reynolds Street frontage adds $3,100,000, but some may be deferred until the development entity is in place.  These costs do not include land cost of The Botanical Gardens parcel.  Private-sector development of areas that could include up to 80,000 SF of office space, a 150-room limited service hotel property, up to 60 condominium properties and parking for up to 500 cars would be beyond these basic multi-use stadium development costs.

Schedule-wise, the Ballpark will require approximately 16 months to construct, preceded by approximately 6 months of design and review time, assuming some overlap of the two, utilizing a construction management approach to the project delivery.  With occupancy desired for late February of the completion year, the earliest the Stadium portion of the project could be completed might be February 2010, assuming that approvals for proceeding with the project and financing were in place by September 2008.  This would include the infrastructure development to support the adjacent private sector components, but these would require additional time depending on the final developer and his financing constraints.

A narrative supports each of the following sections of the report, outlining the overview of the Program Development, Concepts Development, Market Overview and Budget Analysis.