A four-story, 200-unit multifamily development proposed for the water tower district is contingent on County Council’s approval of a second reading Aug. 20 to rezone the property’s current industrial designation to a flexible review district.
The 8.29-acre site near Swamp Rabbit Cafe and Grocery at 1430 Hampton Ave. Ext. is bordered by the Reedy River and is currently owned by Mt. Calvary Baptist Church. Woodfield Investments will purchase the tract from the church once rezoning is approved and develop the property, says Brian Schick, Woodfield partner.
The development has been named Riverside because it will sit on the bank of the river along the Swamp Rabbit Trail. Only five of the eight acres are buildable because of the floodway, Schick says. The remainder will be converted into common areas for residents.
Construction is expected to begin by the end of this year with the first available units ready by November 2020, Schick says.
The Charlotte, North Carolina-based developer’s other projects in the Greenville area include The Greene mixed-use development near Fluor Field that was completed in 2018 and .408 Jackson, the proposed mixed use development on the site of the Shoeless Joe Jackson museum.
Riverside will be considered Class A, institutional grade, with standard amenities, similar to The Greene amenities without the roof deck.
Schick says rental rates will be lower than downtown’s at $1.57 per square foot, averaging from $1,100 for a studio to $2,100 for a three bedroom.
Shick says he believes the location will be very attractive to those who want the convenience of living in the CBD but still 1.5 miles away with access to the trail.
He says it’s likely to attract both young professionals and other folks who are active and want to take advantage of the trail.
“I expect a mix of demographics,” he says.