Amarillo National Bank CEO Wants Investors for Downtown - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Amarillo National Bank CEO Wants Investors for Downtown

A downtown Amarillo landmark used years ago for vaudeville shows and movie showings is now reborn.

The Paramount building on polk street reopens this evening as a multi-purpose facility.

Along with a restaurant on the bottom floor that's been open for some time, the Paramount will now house several businesses on its upper floors..

Richard Ware from Amarillo National Bank says he feels it is important that leaders of the community show their commitment to revitalizing Downtown Amarillo.  As the CEO of one of Amarillo's most prominent businesses, he believes now is the time to take the lead in redeveloping Downtown Amarillo.

He says downtown is the heart of Amarillo, and that it should be vibrant and thriving.  Citizens will benefit by having a place to live, work, eat and all the other things urban dwellers do.

Ware says because of Downtown Amarillo's flat growth rate for the last 20 years, something should be done right away.

Along with buildings like what you see here, investors say it makes sense and is cheaper to tear down old buildings and put new ones up. That will give downtown the boost it needs to survive.

Getting investors to come forward has been a challenge to the revitalization project.  But Ware hopes others will see the potential he sees in downtown's makeover.

He says the Paramount renovation was so expensive, even with every space being rented out, amarillo national bank still won't make a profit.

He says that should prove how beneficial he thinks the revitalization is to Amarillo.

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