UBJ’s downtown development status report for midyear 2014
Contributor Jeanne Putnam assisted with this article.
$221 million. That’s a really big number. But it’s only a fraction of the dollar investment on the 20 downtown projects UBJ is highlighting for our midyear update. The total overall investment to Greenville will be much, much greater.
These multi-millions of dollars are a testimonial to how rapidly downtown Greenville is growing. Properties in Greenville’s Central Business District are reaping premium prices. Vacant land inventory is almost nonexistent and buildings that were once abandoned and in disrepair are enjoying a makeover and new life.
While local developers such as Hughes Corporation, Hughes Investments, The Croft Company, Davis Development and others have played a major role in the city’s transformation, Greenville is now attracting out-of-town developers from Atlanta, Charlotte, Charleston and beyond. As our market continues to evolve and grow, experts see the interest continuing as more companies learn of all that Greenville has to offer.
So here’s a look at 20 of the largest condo, apartment, mixed-use and hotel projects that have been announced in the past 12-18 months and an update on where they stand. (We’d love to list the hundreds of total projects announced or underway across the Upstate, but we simply don’t have space for them all.)
1. Fountains Greenville
Address: 210 E. Broad St.
Developer: Proffitt Dixon Partners (based in Charlotte, N.C.)
Projected start/completion date: Construction to begin Q1 2015, estimated completion Q1 2016.
Units: 210 apartments
Amenities: Resort-style pool, courtyard, outdoor grills and TV, commercial quality fitness center, upscale club areas and rooftop deck.
2. ONE Laurens/Aloft Hotel
Address: 1 N. Laurens St.
Developer: Hughes Development, McKibbon Hotel Group
Projected start/completion date: Estimated completion fall 2015.
Units: 144 guest rooms, 20,000 square feet of additional office/retail space and 474 parking spaces
Amenities: Rooftop restaurant and pool, completion of Greenville’s first dedicated pedestrian street with new restaurants/shops, anchoring Greenville’s new ONE City Plaza.
Estimated value: $31 million
3. Main + Stone
Address: Southeast corner of Main Street and Stone Avenue
Developer: The Beach Company
Projected start/completion date: Groundbreaking to be Q4 2014 to early Q1 2015 with completion expected Q2 2016.
Units: 241 apartments with 21,175 square feet of retail space
Amenities: Urban courtyard pool, fitness center/club room, on-site restaurant and retail amenities, covered parking, walking proximity to downtown.
Total dollar investment: $30+ million
Since the project was first announced, an additional 15 units were added to the original 226 as the designs were tweaked.
4. East Park at Stone
Address: Stone Avenue and Rowley Street
Developer: Blue Wall REI
Projected start/completion date: Construction to begin fall 2014.
Units: 51 new multifamily apartments with 1,900 square feet of ground floor commercial space
Amenities: The four-story building will feature studio, one- and two-bedroom units and have a clubhouse and roof terrace, stone fire pit, rain garden and sidewalks with bistro tables along Stone Avenue. The development will also have on-site bicycle storage to promote an urban lifestyle.
5. District West (formerly called Reedy View Apts.)
Address: Westfield and West Broad Streets
Developer: Flournoy Development
Projected start/completion date: Breaking ground in fall 2014 with completion expected in 2016.
Units: 365 apartments
Amenities: Four- and five-story buildings with an onsite parking deck. The complex is slated to have an amenity terrace overlooking the Reedy River along with a pathway that links to the GHS Swamp Rabbit Trail. Open spaces, courtyards and a social plaza are also planned.
Originally this project was slated to have 322 units, but the total has been boosted to 365.
6. M West | Terrace Homes at West End
Address: 1027 S. Main St.
Developer: 1027 Partnership LLC | Trevor Ream
Projected start/completion date: Site work to begin fall 2014. Three-phase development with Phase I expected to be completed mid-2015.
Units: 18 townhomes
Amenities: Each home has a private rooftop terrace with views (depending upon location in development) of downtown, Fluor Field and/or the Blue Ridge Mountains.
Prices for units currently released for sale vary by unit type and range from $385,000-$550,000. Pricing for Phase III units have not yet been released.
Phase I and II units are all presold. Phase III is expected to be released for pre-sales in fall 2014.
Address: Elford and Main streets
Developer: Sycamore Investment Group (Georgia-based)
Projected start/completion date: Construction is expected to begin fall 2014 with a fall 2015 completion date.
Units: 117 hotel rooms
Amenities: Three-story parking garage, outdoor pool, integrated laundry and exercise facilities, patio grills and walking paths.
8. Rhett Street Condos
Address: 121 Rhett St. (at Camperdown Way)
Developer: The Croft Company
Projected start/completion date: Construction is expected to begin in October and project will take approximately 12-14 months to complete.
Units: 35 condos with 1,500 square feet of retail
Amenities: Balconies, private parking
When first announced, the project was expected to offer 45 condos. After input from prospective buyers, Croft is providing a different mix of units and making some units larger.
9. The Stadium Apartments
Address: Rhett and Markley streets
Developer: Ron Cobb
Projected start/completion date: Construction to begin late summer 2014 with estimated completion summer 2015.
Units: 105 one- and two-bedroom units
Amenities: Fire pits, common area with wading pool
Total dollar investment: More than $15 million
Units were enlarged and amenities upgraded so the development could possibly be converted to condos at a future point.
10. RiversEDGE/Hotel at RiversEDGE
Address: Broad and River streets
Developer: Hughes Investments
Projected start/completion date: Under construction now with an anticipated Q4 2014 completion of most of the units.
Units: 140 apartments
Amenities: New restaurant planned from High Street Hospitality. The eight-story mixed-use building will be primarily residential, with the restaurant and a small commercial space on ground level. The completed project will have an on-site parking garage and eight private garages. Plans call for a hotel to be built in a second phase.
11. RiverPlace Phase 3/Embassy Suites
Address: River and Hammond streets
Developer: Windsor/Aughtry Company, Hughes Development
Projected start/completion date: Summer 2016
Units: 156 guest rooms
Amenities: An eight-story full-service Embassy Suites Hotel with its own dining facility as well as a Ruth’s Chris Steakhouse. Hotel will be located along the Reedy River with plentiful glass, a lighter-fare rooftop restaurant and bar that may be used for private functions.
Projected costs: $34 million
Also under construction are the final phases of the parking garage and development of additional retail space. Additional condos at RiverPlace have not yet been formally announced.
12. South Ridge
Address: Church Street and University Ridge
Developer: The Beach Company
Projected start/completion date: Already under construction. First phase of apartments is expected to be completed Q2 2015 with an overall completion date expected for Q1 2016.
Units: 360 apartments, 16,000 square feet retail space
Amenities: Three- to five-story buildings with a 400-space parking garage. Salt-water swimming pool, clubroom with billiards, on-site dog park, sports club and conference center. Development will offer a fitness center, on-site restaurant and retail amenities, walking proximity to downtown and an upper-story balcony lounge.
Total dollar investment: More than $50 million
The Beach Company reportedly is in discussion with several retailers and restaurants but has not yet inked a deal.
13. Markley Row Townhomes
Address: Markley and Rhett streets
Developer: Rallis Holdings/Highland Homes
Projected completion date: Not available
Units: Six townhomes
Amenities: Two-car garages with each unit, a private yard, and rooftop space. Average price will be $400 a foot with the smallest unit at 3,700 square feet.
Total dollar investment: More than $10 million
14. Brandon Mill/West Village Lofts
Address: Draper Street
Developer: Pace Burt
Projected completion date: Late 2015
Units: 175 loft apartments
Amenities: Art incubator in development to create an opportunity for people to learn from each other. Swimming pool, fitness center, and other potential amenities expected to feed off the art energy in the area.
Total dollar investment: Approximately $20 million
15. Augusta Walk
Address: 700 Augusta St.
Projected completion date: Demolition and site work to begin in September and homes construction in October 2014. Developer expects to be sold out by 2016.
Units: 24 single-family homes
Amenities: Walking distance to the West End of downtown Greenville, sidewalks, landscaping, private terraces and outdoor living spaces.
Average price: $750,000
Total dollar investment: $19.2 million
16. The Cottages at Mills Mill
Address: Church and Guess streets
Developer: Mills Mill Association
Projected completion date: None
Units: 29 townhomes
Amenities: Courtyards, garages
Sources close to this project say it’s on hold and “likely to be killed” as the city of Greenville has denied requests to gate the project like the adjacent Mills Mill condos.
17. City Homes @ Markley
Address: 507 N. Markley St.
Developer: Cole Properties
Projected completion date: Construction to begin fall 2014 and require 12-18 months to complete all homes.
Units: 14 single-family homes
Amenities: Each three-story row home will have views of downtown, an elevator, two-car garage and two additional parking spaces. Homes will be 2,400- 3,000 square feet with large outdoor living areas with small yards. Some customization will be available along with an option for a solar package.
Prices: In the $500,000-$700,000 range.
18. Broadstone Gateway Apartments
Address: 400 N. Church St. on the former Memorial Stadium site
Developer: Alliance Residential Company (Phoenix, Ariz.)
Units: 257 apartments
19. 400 Rhett
Address: 400 Rhett St.
Developer: Lat Purser and Associates
Projected completion date: Fall 2014
Units: 150 apartments
Amenities: One- and two-bedroom apartments ranging from 588 to 1,092 square feet. Other features include a saltwater swimming pool, courtyard with gas grills, TVs and a hammock. Also on site will be an upscale clubhouse with shuffleboard table, dog park, covered parking and bikes available for residents’ use.
Estimated value: $12 million
Completion date has been delayed by a couple of months. The company says rumor that all units are leased and a waiting list in place is untrue. Some units have been pre-leased, and 10 leases were signed the first week the manager was on site at the temporary leasing office. However, plenty of open units remain.
20. Scott Towers mixed-use redevelopment
Project Address: Augusta and Thruston streets
Projected completion date: TBD
Units: Original design was 339 apartments, 197 new multifamily, 142 senior garden apts.
Amenities: Mixed-income community with about 80 percent at market rate and 20 percent affordable for lower-income seniors and families. The development would include a new parking deck, commercial space on the corner of Augusta and Thruston streets and outdoor amenity space for residents.
Contract negotiations fell through with McCormack Barron, a large development company in St. Louis. Currently the Greenville Housing Authority is working on a new open solicitation bid for a new developer that is expected to open in early August.