Capitol City Bank and Trust Opens Savannah Branch - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

02/06/04

Capitol City Bank and Trust Opens Savannah Branch

Residents and businesses along Savannah's Martin Luther King, Jr., Boulevard are getting a new neighbor. Capitol City Bank and Trust Company officially opened its first location in Savannah. The bank was started by African Americans and has branches in Atlanta and Albany, Georgia.

Patrece Grant has been working to revitalize Savannah since she worked for the city in economic development. Now, she's continuing her efforts as branch manager for the newest business on MLK. "Capitol City definitely saw this as an opportunity to be part of the revitalization of this area," she said. "If you look around at the number of empty buildings on the Martin Luther King and Montgomery Street corridor, there's a lot of opportunity here."

The bank hopes not only to provide resources for other businesses to grow and develop, they're also hoping their very presence along Martin Luther King, Jr., Boulevard will encourage other businesses to come here as well.

"It breathes new life into the corridor," said Savannah Development and Renewal Authority director Lisa Sundrla. "It shows that there is investment opportunity that is viable for investment."

Sundrla says Capitol City is one of many investors who have poured more than $80 million into the corridor. Currently six other projects are underway, like one to renovate a building for retail and residential use. "I think for so many years, people didn't think there were opportunities or opportunities weren't accessible to them," said Sundrla.

But as businesses continue to grow, Sundrla believes that will continue to change. The Savannah Development and Renewal Authority has been working to revitalize the city since 1992. The organization offers low interest loans and financing to improve downtown buildings and assist with construction.

Reported by: Liz Flynn, lflynn@wtoc.com

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