Come 2016, Greenville’s West End – once a conglomeration of old, worn-down warehouses and lower-income housing – will be a completely different place. Properties that stood vacant for decades are fetching millions of dollars from developers anxious to meet the high demand of those wanting to live, work and play in downtown Greenville.
Adding to that demand is the dream – and the hope – that the city of Greenville will indeed create a west side city park. City leaders, including Mayor Knox White, are trying to move the park project forward, but have yet to commit to any action beyond $300,000 to fund the creation of a west side park master plan. The city’s public works facilities also must be moved prior to the creation of the park at a cost of around $20 million, which the city does not currently have in the budget.
Developers are banking the project will come to fruition, though, snatching up property along the proposed park boundaries and building there with the hopes that it will come. Land prices continue to skyrocket, pricing smaller investors out of the market and bringing in large regional developers looking to tap into an already hot market.
The speculation is driving a discussion on whether Greenville is being overdeveloped. One of our columnists, Brad Halter with CBC Caine, delves into that topic in depth.
The general consensus is that the market has plenty of pent-up demand. Banks are lending and projects are winning approval. Where we end up in three or five years is anyone’s guess. For now, it’s just another chapter in Greenville’s own West Side story.
Here’s a look and an update, on several – but not all – of the West End projects on tap.
West End projects
Note: Fair market values and sale prices are from Greenville County property records
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1. Pendleton Street Baptist Church project – Woodfield Investments – 270 apartments
1100 S. Main St. and 8 Perry Ave.
Proposed
Fair market value: $1,807,300
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2. Homewood Suites by Hilton Hotel – Parks Hospitality Group
942 S. Main St. (across from Fluor Field)
Proposed
Fair market value: $1,122,250, Sale price: $2,700,000
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3. City of Greenville west side park -160 acres
Near the Kroc Center, west of Academy Street
Proposed
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4. M West -1027 Partnership LLC, Trevor Ream – 18 townhomes
1027 S. Main St.
In progress: Completion 2016
Fair market value: $700,130, Sale price: $899,000
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5. Link Apartments West End – Grubb Properties – 215 apartments
25 River St. (Rhett and River)
In progress: Completion spring 2016
Fair market value: $2,259,900, Sale price: $950,000
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6. Markley Row – Ron Rallis -10 townhomes
101-109 N. Markley St.
Pending: Construction to begin 2015
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7. Perimeter West End (formerly Stadium Apartments) – Ron Cobb – 70 condos
100 N. Markley St. (Rhett and Markley)
Pending: Construction to begin 2015
Fair market value: $199,160, Sale price: $223,000
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8. 121 Rhett – The Croft Company – 36 condos
Rhett at Falls Park Drive
In progress: Completion 2016
Fair market value: $785,100
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9. Greenville Lofts – Arlington Properties – 215 apartments
Corner of Westfield and Academy streets
Pending: Construction to begin 2015
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10. Elements West – TRV Development – 60 apartments
806 Green Ave.
Pending: Construction to begin August 2015
Fair market value: $1,093,760
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11. Park Place on Hudson – Asterisk Development – 24 townhomes
104 S. Hudson St.
Pending: Construction begins August 2015
Fair market value: $366,390
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12. South Main at River – STM Acquisition and Development – 30-40 apartments
702 S. Main St.
Pending: Construction to begin December 2015
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13. NEXT Manufacturing – 36,000 square feet light manufacturing space
400 Birnie St.
In progress: Completion August 2015
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14. Greenville Water Redevelopment – 10 acres
407 W. Broad St.
In progress
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15. Reedy Point Visitors Center – 1.2 acres
River Street and the Reedy River
Proposed
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16. District West – Flournoy Development – 365 apartments
Address: 101 Reedy View Drive (@Westfield and West Broad streets)
In progress: Completion 2016
Fair market value: $3,774,600 Sale price: $3,000,000
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17. Traverse – Development team led by David Miller – 24 condos
110 Markley St.
Pending: Construction to begin 2015
Fair market value: $786,100, Sale price: $995,000
