News 12 at 6 o'clock / Wednesday, Jan. 18, 2012

AUGUSTA, Ga. -- The multi-million dollar Laney Walker redevelopment is well underway and is receiving national recognition.

Harvard University and the Georgia Planning Association both call the redevelopment a model for cities across the country.

"I'm just so blessed," said Ellis Maduaka-Cain, construction manager. "I wake up in the morning and I wonder, 'Why me?'"

Ellis calls the project a dream come true. Heritage Pine is the flagship development that is transforming Pine Street.

"When we first saw it [we called it] the 'wild wild west,'" Ellis said. "It is now a livable, pedestrian, family-friendly street."

The new homes now boast wood floors, stainless steel appliances and granite countertops that all come standard.

"It is delightful to see," said Chester Wheeler with Housing and Neighborhood Development. "I love hearing the hammers. It is a sign of progress."

But the home prices are pretty steep for existing neighbors. Prices range from $100,000 to $200,000.

"The average home price is somewhere between $140,000 and $160,000," Wheeler said. "A $200,000 home is a custom home."

Some in the community are concerned the prices could drive away existing neighbors.

Wheeler said this isn't the intention and has not happened.

"Mrs. Randal who has lived here for 52 years and Mrs. Phinizy who has lived here for 55 years," Ellis said. "All they wanted was neighbors."

Slowly but surely, they are getting neighbors. Heritage is just one of six planned developments.

"Anything good is slow," Ellis said. "It took you nine months to have been born right? So anything good takes time."

The development is even receiving feedback from Harvard University.

"Augusta's 'one-of-a-kind' role as master developer could be a 'game-changing' national model for public-private partnerships," said William Sankey with Harvard University Student Journal of Real Estate."

This is news Ellis was happy to hear.

"Sure they did," said Ellis with a smile. "Harvard is wise."

A 50-year hotel-motel fee is helping pay for the project. It will generate about $40 million. It is a 15-year project that spans more than 1,000 acres.