HomeMy WebLinkAboutA Redevelopment Strategy for Regency Mall and Surrounding Area
Augusta Richmond GA
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Prepared for:
Greater Augusta Progress, Inc.
Prepared by:
Windward Properties, LLC
Glattli)g Jackson Kercher Anglin Lopez Rinehart
. Inc.
Robert Charles Lesser & Co.
Executive Summary
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Wmdward Properties, LLC along with Glatting Jackson
et ai, and Robert Charles Lesser & Co. were retained to
create a redevelopment plan for the Regency Mall and
surrounding properties in Augusta, Georgia by Greater
Augusta Progress, Inc. The study area includes Re-
gency Mall property and surrounding nearby properties.
The project includes real estate market context, supply
and demand, community participation, retail assessment,
real estate market overview, alternative use assessment,
alternative re-use concepts, a redevelopment strategy
and an implementation strategy.
Regency Mall, built in 1979, was Augusta's first en-
closed shopping center. Regency has more than
800,000 square feet and was once referred to as
,ExeqJtive Summary
Georgia's largest mall. It is located at the intersection- of
Deans Bridge Road and Gordon Highway, and generally
in a geographic center of the Augusta Richmond County
area. The same year Regency Mall was buih Augusta
Mall was constructed only 3 miles away. In the late
1980's household growth trends shifted towards the
northwest and closer to the Augusta Mall. As these
trends continued, population and traffic dropped in the
Regency Mall area. Currently, the mall is largely vacant
and as described in detail in the Market Analysis, for this
piece of real estate to be reVitalized-arid to become a
catalyst for other revitalization, it has to be something
different than a retail mall
Town Square
A Redevelopment Strategy for Regency Mall & Surrounding Area
Page 5
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The opportunity is strongest for the redevelopment of
Regency Mall as a mixed-use development with office,
entertainment retail, . sports-oriented retail and value-
oriented outlet retail. In the future, some housing and
local serving retail may be feasible at the site once the
project has established itself in the market.
Within a mixed-use development the various users
supply each other with patrons so it is very important
that the design of the development be friendly to auto-
mo bile, transit and the pedestrian and that a defined core
of mixed use buildings be organized around grand civic
streets and public spaces. Also, making the natural
element, Rocky Creek, a part ofthis redevelopment will
help make this development unique. The creek is a
recognizable natural element that is significant to this
study area and provides a great opportunity for a
community greenway.
It is important to our team and to our client that we
develop a plan that is not only visionary but well
A Redevelopment Strategy for Regency Mall & Surrounding Area
grounded in market reality. We were able to accomplish
this by having a team of professionals with different
speciahies work together. Robert Charles Lesser & Co.
led the market analysis, Glatting Jackson led the urban
design and transportation and Wmdward led the public
process and managed the project.
We also had a significant public involvement process that
included approximately 200 people. Through this we
were not only able to confirm the market research but
we were able to hear the public's concerns, ideas and
visions.
There are three (3) different sections to this final report.
The first is the Executive Summary; the second is the
Redevelopment Strategy, which gives a brief overview
of the market analysis and development program but
primarily concentrates on how to redevelop this mall
including the phasing and who to involve. The third and
last section ofthis report is the full Market Analysis,
which is a separate document.
Page 6
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. Summary
Executive
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Page 7
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NEXT STEPS
What an Owner Should Do
1. Meet with the Mayor and Commissioners to ensure that the City is committed to this project and this
plan.
2. Hire a Public Relations Firm to assist in removing the "bad" perceptions and feelings people have
regarding Regency Mall. This would also include a confirmation of any potential name change to the
new development.
3. Get on the Speaking Circuit to Realtors and Chamber organizations to announce and describe the
vision and commitment you have as a new developer to this city, and this plan. Be prepared to offer
Realtors good commissions for tenants they bring to your door. It is important that you get them on your
side.
4. You may have to Make A Sacrifice on the first building and tenant improvement. The first has to be
done correctly and set the tone for the remainder of the project. On this first improvement you may have
to cut a very good deal for the tenant to get them to commit.
5. Make Improvements That WILL Be Seen. The entire community will be watching and you are basically
putting your money where your mouth is at this point and will be showing the entire community that
this redevelopment is for real and that it is going to be successful. The major improvements should be
made in a very visible location from the every day drivers along Gordon Highway and Deans Bridge
Road. The general public will see improvements being made on a daily basis.
6. Build the park and greenspace infrastructure towards the beginning of the redevelopment while the
land is still relatively inexpensive and not in demand. As the development grows and demand increases
it will be more difficult to make the decision to carve out an acre of parking lot for green space. Work
with the City officials to layout, design and commit to building the greenspace areas, as indicated on the
plan.
7. Start With an Area and Stick to It, instead of making small minor repairs through~ut the entire property.
This will signal to the community that major changes are in store for this development and the public will
be able to gain an understanding of the changes that are happening.
8. Currently the majority of the leases in the mall have expired. Montgomery Ward is paying a fixed fee
for security and GNC is paying a common area maintenance (CAM) fee. A new owner has the opportu-
nity to work with new tenants on special CAM rates or special fees.
,
What Augusta - Richmond County Could Do
1. Take Ownership of the Plan - The City should proudly take responsibility of this plan. Greater Au-
gusta Progress the Development Authority of Augusta Richmond County and other economic devel-
opment oriented organizations should be well versed and supportive of this redevelopment project.
2. Adopt the Plan in Concept - The City should officially adopt this plan in concept at a Council Meeting.
This would also lead to incorporating the needed transportation improvements into the Regional Planning
Process, Submitting the Livable Communities Grant Application and Embracing the Regional Greenway System
3. Assist in Development of Civic Space - There are many opportunities for local government to become
involved in this development. All of these possibilities become incentives to the developer and begin
partnerships with the developer. To become a mixed-use town center, civic space plays a strong role
and enhances the overall development. The Square off of Gordon Highway is critical as a first step to
this redevelopment. Other park space includes a park along Rocky Creekwhich can tie into the
regional greenway system. We have estimated that the planned park space will cost close to $1.5
million. Average annual maintenance cost on one (1) acre of high profile urban park space is esti-
. mated between $19,000 and $32,000. Estimated costs for greenways vary according to the the ameni-
ties provided. Some greenways can be very minimal in maintenance cost where it includes walkway
maintenance and litter control. Although this is a significant investment the value of this plan would
be lessened without the park space. It adds economic value to the project. It becomes yet another
reason for people to come to this area. The timing of building this park space is very important
because as the development grows the demand for land will increase. It is important to layout,
design and construct the civic green space early in the redevelopment stage. This park space will
become part of the significant public infrastructure, just as water and sewer, that helps breathe life
back into this center.
Other Civic space: Opportunities exist for a community center, meeting space and some outdoor
sctivities such as an amphitheater.
4. Other opportunities for Augusta-Richmond County that are not as cost
driven:
* Assist in Public Relations - Speak positively about the opportunities for Regency.
* Make Drawings Readily Available - Something as simple as researching, finding and delivering some of
the building / construction drawings of the Regency Mall can help a developer understand the construc-
tion of the building. Make available any structural and environmental reports that have been completed
on the property. . .
* Inventory Existing Infrastructure in the Area - Giving a developer a b~sic drawing that shows existing
infrastructure including right-of-way widths, all utilities and their respective sizes, and any plans for
improvements will assist developer in gaining a quick understanding of the property and the utilities
..
rravailable and potential upgrades that may be necessary. This can potentially be done with the
assistnace of the City-County GIS Department.
* Neighborhood Reinvestment - To enhance the entire community, one potential opportunity is to begin
developing a special taxing district, where the existing taxes or any tax increase in the area would go
directly back into the neighborhood.
* Distribute Development Package - All of the organizations and individuals involved in the Redevelop-
ment project should have copies readily available and should assist in disctributing these plans around.
the community to maintain a certain level of public awareness about the strategy.
* Speci~1 Zoning / Development District -In order to compete a mixed use town center redevelopment,
some special zoning district guidelines may have to be developed. This can be done in a variety of ways
including an overlay district, a rezoning with particular guidelines attached, or a design review system.
This should happen relatively quickly after the local jurisdiction adopts the plan in concept. The purpose
of a new zoning district is to make sure that the developer can build what is designed in the master plan
which would require more of an urban code versus a suburban zoning code. Working with the devel-
oper and the neighborhood to develop this code should be a priority to give flexibility and guidelines to
the development.
* Advertise property in Urban land magazine and Shopping Center world magazine. Both of these
publications focus on real estate developers. Very similar to a Request for Proposals for consultants, this
advertisement would be a request for developers to submit a proposal to you that would include com-
pleting a mixed~use development which maintains this plan.
* Understand and explain to the new owner/developer about the EDA Grant opportunities. Augusta is
designated as a EDA status and if the property owner is willing to sign the Civil Rights Form (Form 612)
then the property may be available for up to $1.5 million depending on the types and the amount of jobs
created by this new development. The money would go towards the public portion of the redevelop-
ment Le. the parks and open space, infrastructure improvements, community spaces. The development
of these spaces will enhance and encouage the successful redevelopment of this piece of real estate.
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Property Ownership
Understanding the different ownerships of the property plays a critical role in the redevelopment effort.
The actual mall building is owned by 3 different owners while the property surrounding the mall has 3
additional owners. To have a successful redevelopment these variuous owners have to all be committed
to the same plan and vision. Because it is often difficult to get everyone in agreement, one recommen-
dation is to try to get the mall building under one single ownership and then begin working with the
property owner along the creek. This will give the new owner flexibility in the nature of the design and
implementation ofthe strategy. Also, even if the different ownership parties can come to an agreement
verbally, legally, there are sometimes details in the lease and ownership structures that will not allow.-
anchor stores such as a Oillards store to be a part of a mixed use center or to allow certain tenants to
share parking.
Regency Mall, LLC
Mercantile Properties
Montgomery Ward
Regency Mall
501,120 sqft GLA
162,391 sqft GLA
138,489 sqft GLA
802,000 sqft GLA
52.68 acres
12.15 acres (Dillards/JBWhite)
10.18 acres
75.01 acres
Surrounding Property
Raymond Barton
Hull McKnight
Hull McKnight
Total
o GLA
?GLA
?GLA
8.96 acres (Flood Plain)
9.55 acres (General Cinema)
12.03 acres (Sears Call Center)
105.55 acres