Recommendations / Downtown Development / Big Idea #3: Augusta University Real Estate Investment

Big Idea #3: Augusta University Real Estate Investment

Part of the "SOUL CITY CONNECTORS" initiative

Downtown DevelopmentAugusta/RichmondNot specified

Overview

Create a Real Estate Planning Committee within the Augusta University Planning Department to strategically plan growth and relocation of University departments, programs, and key facilities so the Augusta University Health Sciences Campus is better connected to the urban core and central business district. The recommendation focuses on relocating University functions such as fine arts, design, and music programs into Downtown Augusta, occupying vacant and underused properties, increasing student/faculty/staff presence downtown, and building a stronger “Gown Town” relationship between Augusta University and the urban core.

Action plan

Short-term
Form an Augusta University Real Estate Committee within the Augusta University Planning Department; facilitate initial discussions on which departments, facilities, and programs could be moved or located in Downtown Augusta; create a framework for Augusta University, City of Augusta, property owners, and developers to work together; review and select potential sites or buildings for proposed relocation of departments/divisions into Downtown Augusta.
Medium-term
Designate a community engagement “champion” to guide the transition of University functions into Downtown Augusta, secure community support and buy-in, troubleshoot issues as more students and faculty move downtown, and advocate for strategic integration of Augusta University into the urban core. Potential advocates include the local real estate community, developers, building owners, Augusta Downtown Development Authority, and Augusta Convention and Visitors Bureau.
Long-term
Connect Augusta University functions located downtown to other campus locations through revolving transit or other multimodal transit solutions; examine public-private transit investment solutions; ensure quality transit options between the Health Sciences Campus, Summerville Campus, all campuses, and Downtown Augusta; collaborate with the Downtown Loop project from Big Idea #2 as part of a cohesive implementation plan.

Expected impact

Projected Recurring Revenue StreamsEconomic

Tracks sales tax generated as a success indicator.

Timeframe: Long-term
Projected Facility UtilizationInfrastructure

Tracks providing tenants for vacant and underused properties.

Timeframe: Long-term
Projected Transport ConnectivityInfrastructure

Tracks better connection between Augusta University Health Sciences Campus and the urban core / central business district.

Projected Multi Year FundingSustainability

Tracks facilitated financing and program options listed for the recommendation.

Projected: 12 Funding / financing options
Projected Program EnrollmentEducational

Tracks relocation of fine arts, design, and music programs into the central business district.

Projected: 3 Program areas
Projected Implementation CompletionInstitutional

Tracks relocation of Augusta University offices and departments into the urban core.

Projected Recurring Revenue StreamsEconomic

Tracks increases in rental rates connected to increased demand.

Timeframe: Medium-term
Projected Walkability ImprovementInfrastructure

Tracks foot traffic in urban core businesses as a long-term success metric.

Timeframe: Short-term
Projected Recurring Revenue StreamsEconomic

Tracks increases in property values connected to increased demand.

Timeframe: Short-term
Projected Recurring Revenue StreamsEconomic

Tracks increased potential patrons for local businesses downtown.

Projected Recurring Revenue StreamsEconomic

Tracks hotel-related success measurement connected to downtown growth.

Projected Governance AlignmentInstitutional

Tracks possible organizational models for the champion function.

Projected: 2 Organizational models · Timeframe: Long-term
Projected Leadership EngagementInstitutional

Tracks designation of a community engagement champion.

Projected: 1 Designated champion
Projected Resource ReusabilitySustainability

Tracks community members donating time for planning, insight, and guidance.

Projected Implementation CompletionInfrastructure

Tracks review and selection of potential sites or buildings for proposed department/division relocation.

Projected Transport ConnectivityInfrastructure

Tracks developing connectivity between Augusta University campuses and the urban core as a catalyst for growth.

Projected Recurring Revenue StreamsSustainability

Tracks low-interest loans and forgivable loans as financial tools for implementation.

Projected: 2 Loan tools
Projected Resource DependencySustainability

Tracks phasing JAG Express costs into existing city or University transit system budgets.

Projected Governance AlignmentInstitutional

Tracks the Real Estate Committee being housed within Augusta University Planning Department.

Projected Recurring Revenue StreamsEconomic

Tracks increase in City of Augusta tax base through rising property values.

Timeframe: Long-term
Projected Institutional Support LevelInstitutional

Tracks community support and buy-in secured by the designated champion.

Timeframe: Long-term
Projected Multi Stakeholder InvolvementInstitutional

Tracks central location of students, faculty, and staff in the heart of the city.

Projected: 3 University groups
Projected Transport ConnectivityInfrastructure

Tracks increased number of routes and options serving the downtown area.

Projected Facility UpgradesInfrastructure

Tracks facade grants through the City of Augusta Housing & Economic Development Department.

Projected Organizational Capacity GrowthInstitutional

Tracks Augusta University’s ability to grow through urban core relocation and real estate planning.

Projected Multi Stakeholder InvolvementInstitutional

Tracks coalition participation across University, government, developers, investors, residents, students, visionaries, and other stakeholders.

Projected: 8 Stakeholder groups
Projected Recurring Revenue StreamsEconomic

Tracks retail sales in urban core businesses as a long-term success metric.

Timeframe: Short-term
Projected Transportation ExpansionInfrastructure

Tracks various forms of multimodal transit to increase connectivity.

Projected Public Transit UseInfrastructure

Tracks potential JAG Express circulator line between Augusta University campuses and the urban core.

Projected Walkability ImprovementInfrastructure

Tracks increased foot traffic in the downtown area.

Projected Infrastructure NetworkInfrastructure

Tracks infrastructure grant programs through the Department of Community Affairs.

Projected Partner OrganizationsInstitutional

Tracks named potential funding, resources, and partnership sources.

Projected: 4 Partner / funding sources
Projected Resource ReusabilitySustainability

Tracks use of existing University Administration overhead and in-kind time for committee formation.

Projected Public Private PartnershipsInstitutional

Tracks public-private partnership models for transit investment solutions.

Projected Transport ConnectivityInfrastructure

Tracks transit connection to the Health Sciences Campus and Summerville Campus.

Projected: 2 Campuses named
Projected Partner OrganizationsInstitutional

Tracks potential advocate groups for the designated champion role.

Projected: 5 Advocate groups · Timeframe: Long-term
Projected Strategic Alignment ScoreInstitutional

Tracks collaboration with the Downtown Loop project from Big Idea #2.

Projected Multi Stakeholder InvolvementInstitutional

Tracks representation from public and private sectors on the committee.

Projected: 2 Sectors
Projected Transportation ExpansionInfrastructure

Tracks grant, loan, and EV bus options from Georgia DOT / US DOT and U.S. Department of Energy.

Projected Execution RiskInstitutional

Tracks troubleshooting of issues as more students and faculty are present downtown.

Timeframe: Long-term
Projected Community Self SufficiencyCommunity

Tracks attraction of citizens and visitors to the urban core.

Projected Transport ConnectivityInfrastructure

Tracks connection of downtown University functions to other campus locations through revolving transit.

Timeframe: Long-term
Projected Implementation CompletionInstitutional

Tracks initial discussions about which departments, facilities, and programs could move or locate downtown.

Projected Facility UtilizationInfrastructure

Tracks occupation of vacant and underused properties through university relocation and real estate planning.

Projected Facility UtilizationInfrastructure

Tracks decrease in underutilized properties in the urban core.

Projected Advisory Committees CreatedInstitutional

Tracks formation of the Augusta University Real Estate Committee.

Projected: 1 Committee · Timeframe: Long-term
Projected Transportation ExpansionInfrastructure

Tracks a fully integrated transit system between all campuses and the urban core.

Projected Public Space ImprovementInfrastructure

Tracks overall increase in downtown aesthetics.

Projected Public Space ImprovementInfrastructure

Tracks creation of a vibrant and walkable environment in the urban core.

Key stakeholders

Augusta UniversityAugusta University Planning DepartmentAugusta University Real Estate CommitteeAugusta University Health Sciences CampusAugusta University Summerville CampusCity of AugustaDowntown AugustaLocal government officialsProperty ownersReal estate developersInvestorsDowntown residentsAugusta University studentsAugusta University facultyAugusta University staffAugusta University fine arts programsAugusta University design programsAugusta University music programsDowntown Augusta stakeholders from public and private sectorsLocal real estate communityBuilding ownersAugusta Downtown Development AuthorityAugusta Convention and Visitors BureauDesignated championExisting organization for champion functionNot-for-profit entity for champion functionExisting city or University transit systemsLocal businesses in the downtown areaUrban core businessesCitizensVisitorsHotelsAugusta University FoundationCommunity Foundation of the CSRASPLOST FundsCity of Augusta Housing & Economic Development DepartmentFederal Historic Preservation GrantsGeorgia Municipal AssociationDepartment of Community AffairsGeorgia DOT / US DOTU.S. Department of Energy

Estimated budget

Short- and medium-term committee/champion costs are marginal and primarily in-kind through University Administration overhead, community member time, and organizational support. The champion function could be housed in an existing organization or a new not-for-profit entity. A “JAG Express” circulator line between Augusta University campuses and the urban core could be phased into existing city or University transit budgets. Long-term transit costs depend on the chosen multimodal solution and route structure.