Kennebec Savings Bank’s chief executive officer Andrew Silsby and Waterville City Manager Michael Roy on Monday announced the bank’s donation of $150,000 toward the RiverWalk project at Head of Falls park in Waterville.

The $1.5 million RiverWalk will include a 150-seat amphitheater which will be named through the bank’s donation and which is slated for construction this year.

The $150,000 donation, announced Monday at the bank’s Augusta location on State Street, puts the RiverWalk fundraising campaign at $750,000 — the half-way mark.

“Kennebec Savings Bank is proud to place its name on this outstanding project that will add much needed green space to downtown Waterville for families to enjoy,” Silsby said in a press release. “We are confident that this beautiful park will become the home for many public festivals and outdoor celebrations for years to come.”

The RiverWalk at Head of Falls will celebrate Waterville’s return to the river, as it will be located just upstream from Ticonic Falls, one of the city’s most important historic areas, according to Roy. The waterfront, which once was home to immigrant families and the mills they worked in has been underutilized for the last 45 years.

Roy and Lisa Hallee are co-chairmen of the RiverWalk Advisory Committee, which planned the project. Roy commended Kennebec Savings for taking great interest in a project that will inspire future development of Head of Falls in ways that will enhance the economic vitality of the city while preserving public access to the waterfront, according to the news release issued by Adrienne Bennett, the bank’s director of marketing and communications.

“Kennebec Savings Bank’s investment into our community will be appreciated for generations to come,” Roy said. “And we hope the Bank’s generosity inspires others to join in our effort to revitalize our waterfront. It’s an exciting time for the Waterville community.”

The RiverWalk will help revitalize Waterville’s historic riverfront, bringing economic energy and public access to the waterfront area, the release says.

It also will complement ongoing downtown Waterville revitalization efforts and include a 900-foot boardwalk along the river. Features will include a gazebo overlooking the river at the southern end of the park, a large children’s play area with a water component and information kiosks and art installations illustrating the city’s rich history related to industry and the river.

Mitchell & Associates landscape designers, of Portland, designed the RiverWalk, which Roy said will start undergoing construction in May and is expected to be completed in September.

In 2015, the Waterville Rotary Club donated $150,000 for the RiverWalk project to celebrate the club’s centennial. The Waterville Development Corp. later donated $50,000, which was part of $300,000 the city raised locally to match a $300,000 grant from the Land and Water Conservation Funds.

Colby College donated $75,000, Kennebec Messalonskee Trails gave $15,000 and Inland Hospital, $10,000.

The RiverWalk website at www.RiverWalkatHOF.com offers viewers a tour of the project.

Kennebec Savings Bank is a $951 million, state-chartered community bank, part of a mutual organization with a team of 130 employees and offices in Augusta, Waterville, Winthrop, Farmingdale and Freeport, according to the release. The bank also has “KSB Anytime” 24-hour electronic banking centers in Manchester, Augusta and Farmingdale. The bank is proud that its involvement in the community as an employer, a business and as a contributor has led to many other successes besides its own, according to the release.

Amy Calder — 861-9247

[email protected]

Twitter: @AmyCalder17