Just to raise a point here...
I had a conversation with Canadian course designer Les Furber (Predator Ridge, Silvertip, etc.) several years ago about a potential local project, and one thing I can recall from that conversation was his discussion about par-3 holes, and that he HATED building an uphill par-3 hole. Said that if the golfer ever got a hole-in-one, he/she'd never see the ball go in the hole. I had to agree with him on that one. And, if I had my choice between running up to the green to see how close my tee shot is to the cup, or watching my tee shot rolling into/just past the cup on an at grade or downhill hole, I'll take the visual stimulation of watching my ball roll toward the hole 10 out of 10 times.
Ari, is it possible to build a "sidehill" hole there? Aside from Furber's comment, there is also the "view" element. Not much of a view staring uphill, especially with the knowledge that you're about to wind yourself silly dragging that 50 pound bag up the hill. And the view is nothing compared to a sidehill view anyway. Case in point, Mark's photo of the 9th at Chattanooga...the ridge to the left, clubhouse behind, lake/river below to the right, etc.
Just a thought.
JJ