The 2020 draft Canal District Master Plan identified the repurposing of the Water Works Building as a catalytic project that could help spur development of the area. By establishing a community market in the structure, long-absent goods and services will be available to the west Savannah neighborhoods and the community. The facility would also be programmed as an incubator for the development of local-business and workforce development.
 

Staff is seeking authorization to solicit an experienced and well-capitalized partner to form a public-private partnership (“P3”) to facilitate the rehabilitation, restoration, and operation of the historic Water Works Building and associated site (collectively referenced as the “Property”) into a flexible commercial venue. The City would retain ownership of the Property but contribute its long-term use as a portion of the capitalization of the P3. The City expects the partner to secure funding and tax credits to finance remaining capital needs for the renovation and operation of the facility. Thus, the City is seeking to leverage use of the property to attract a partner who will provide capital and operational expertise to restore a historic structure, generate revenues and job opportunities over time, and produce additional benefits to the surrounding neighborhoods and the City as a whole.

Approval