AUGUSTA, Ga. (WRDW/WAGT) -- In a press conference this morning, The Augusta Canal Authority announced a 75-year ground lease of its Sibley Mill property to Cape Augusta Digital Properties, LLC.

Cape Augusta will become master developer of the cyber campus, which will stimulate Augusta's growing status as one of the world's largest cyber technology hubs and completely transform one of the most historical properties in the CSRA.

Towards the end of 2014, Cape Augusta reached out to the Authority to express their interest in creating a data center inside of the 136-year-old mill. The past year and a half has been spent on finalizing the design and perfecting all logistics with the site. Developers are looking to sublease parts of the mill to data center operators and users and, technology companies and cyber-educators.

The Authority will continue to operate the hydropower plant inside of the mill and provide Cape Augusta with water and electricity to cool the data center's computers. They will also support the cyber-related activities that are on-going in Augusta such as the Cyber Command Center at Fort Gordon and the cyber activities at Augusta University.

Sibley Mill was purchased by The Canal Authority in 2010. The Authority undertook a $1.3 million environmental cleanup that started in 2011. That cleanup is expected to be finished in the next several months.

Phase 1's ground breaking is planned within a matter of weeks. Cape Augusta will host an event to launch the redeveloped building and unveil the Cyber Works development at a later date.