Augusta Economy

More News | Fort Gordon | Plant Vogtle | Savannah River Site | Editor

Replacement of old Regency Inn moves forward

Friday, Nov. 9, 2012 3:50 PM
Last updated Saturday, Nov. 10, 2012 3:31 AM
  • Follow Local Business

A long-coming plan to replace a vacant hotel on Broad Street could finally be coming after a tax incentive helped move the project forward.

Back | Next
The Regency Inn, situated at the corner of Broad Street and Gordon Highway, could be replaced by a Holiday Inn Express by hotelier T.R. Reddy. Construction could begin in early 2013.  JON-MICHAEL SULLIVAN/STAFF
JON-MICHAEL SULLIVAN/STAFF
The Regency Inn, situated at the corner of Broad Street and Gordon Highway, could be replaced by a Holiday Inn Express by hotelier T.R. Reddy. Construction could begin in early 2013.

Hotelier T.R. Reddy said construction could begin early next year to transform the old Regency Inn into a Holiday Inn Express and Suites. On Thursday, the Augusta Commission created a tax allocation district for the property and surrounding area that helped Reddy advance the plan after years of financing delays.

A new hotel will help stimulate downtown business development, Reddy said. Hotel rooms are in short supply for a growing list of downtown events and are needed for visitors to the Augusta Convention Center, also known as the TEE Center, he said.

“We are hoping this should do well, but also it should help the city grow a good landscape at an entrance to the city,”
Reddy said.

Reddy bought the property at 444 Broad St. in 2009 for $588,500, according to The Augusta Chronicle archives. Initially, construction was to be completed by July 2011. The structure will be gutted to the steel frame and rebuilt.

He plans to spend nearly $6 million to renovate the building, which hasn’t been used as a hotel for more than a decade. The property has convenient access to Gordon Highway and should help him attract business from Fort Gordon, he said.

Reddy, who has developed several local hotels, was motivated to find financing for the hotel after another developer, Courtland Dusseau, of Alabama-based Legacy Hospitality, also ran into financing troubles. Dusseau planned to build a Hyatt Place hotel on Reynolds Street across from the convention center.

The 70,000-square-foot Holiday Inn Express and Suites will have 110 rooms, eight suites and three meeting rooms when completed, Reddy said. It will feature an outdoor swimming pool, gym and common space.

Reddy plans for the Holiday Inn to be a “green” building and meet requirements for Lead­ership in Energy and En­vironmental Design certification. He built the area’s first green hotel, a Comfort Inn and Suites on Norland Connector Drive, in 2009 and sold it two years later.

“This will be the first LEED hotel in town,” he said.

Comments (8) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
Riverman1
83904
Points
Riverman1 11/09/12 - 05:05 pm
1
1
"If y'all don't hurry up and

"If y'all don't hurry up and approve the TEE, the Hyatt Place Hotel won't be able to be built."

Anyone remember that? Congrats to Mr. Reddy for getting rid of the eyesore and putting his own money up for a new hotel. If he is depending on TEE Center events for guests, good luck with that. Since he can't use the TEE kitchen, maybe he can grill hotdogs on the Riverwalk by the TEE.

Gage Creed
17222
Points
Gage Creed 11/09/12 - 05:13 pm
2
2
Queue the omnious cello

Queue the omnious cello music!

Lori Davis
920
Points
Lori Davis 11/09/12 - 05:30 pm
1
2
Another quick deal. Keep an

Another quick deal. Keep an eye on this one. Remember, I was at this Commission meeting. Something fishy all the way around.

OpenCurtain
10049
Points
OpenCurtain 11/09/12 - 05:35 pm
2
0
Thanks for tearing down the eye sore

Question. With the reduced number 5th Street clubs and higher drinking age will they be about to fill it up on weekends? ;-)

The late 60's and early 70's were the hay day of downtown in my book.

Riverman1
83904
Points
Riverman1 11/09/12 - 06:39 pm
0
0
Open Curtain, THAT dynamic

Open Curtain, THAT dynamic crossed my mind, too.

avidreader
3215
Points
avidreader 11/10/12 - 07:41 am
0
1
Risky Move!

Will the hotel provide a Bio-Hazard disposal area for used needles?

JRC2024
8854
Points
JRC2024 11/10/12 - 10:06 am
1
1
TR has always been a savey

TR has always been a savey investor and has always done well. All my dealings with him ended good. Praise him, do not be critical or get up and do something yourself to better the area.

countyman
20120
Points
countyman 11/10/12 - 12:47 pm
2
0
Excellent news for the urban

Excellent news for the urban core specifically Lower Broad and Olde Town.

Back to Top

Search Augusta jobs