Early financial returns from Riverside Village–a development that includes SRP Park, home of the Augusta GreenJackets (Low A; Sally League)–are exceeding expectations, according to a new report.
Riverside Village in North Augusta, SC is anchored by SRP Park, the new home of the GreenJackets that opened last month. The mixed-use development is scheduled to reach full build out over the next few years, but this spring’s opening of SRP Park provides the area with its first major amenity.
A new update on the financial status of the development reports that Riverside Village has made $2.5 million in gross revenue thus far, exceeding expectations. A fuller financial picture of the development will take shape over time, but the early returns for Riverside Village reflect a strong start. More from WRDW.com:
“We’re on track–actually doing a little bit better than what the model predicted,” said City Councilman Fletcher Dickert.
The mayor says the ballpark and Village have made $2.5 million in gross revenue to date–a little better than projections.
That’s music to some neighbors’ ears.
“They had to show everyone they knew what they were doing–and I think that amply,” said Mark Phifer.
Riverside Village is a project undertaken by the city and investors, including Greenstone, the Atlanta-based investment firm that includes Chris Schoen, part of the GreenJackets ownership via Agon Sports & Entertainment. Though some of the key amenities are either still under construction or in the planning stages, the vision for Riverside Village includes a Crowne Plaza Hotel and Conference Center, Class A office space, restaurants, apartments, condos, senior housing and retail, some of which will be located in the ballpark.
RELATED STORIES: SRP Park / Augusta GreenJackets