Initial redevelopment plans are emerging for a former dry cleaners-turned-lawn-mower-repair store along Stone Avenue in Greenville to be converted into retail, restaurant and office space, including a second location of Coffee Underground.
Developers Pete Brett and Michael Fletcher are under contract to purchase the 1-acre property at 109 W. Stone Ave., home to Battery and Electric Company, a small engine parts store, along with other businesses since the 1960s. BECO plans to move to a new, soon-to-be-announced location.
The property has historic significance, as it was also home to Star Cleaners, one of the first commercial buildings built on Stone Avenue in the 1920s, said Brett.
There is approximately 18,000 square feet of existing buildings, which Brett and Fletcher will redevelop, not tear down, they said. “It fits more with the historic character and is much more authentic to Stone Avenue,” said Fletcher. The price of renovation? About $3 million. Others had looked at the property, but plans didn’t quite fit the neighborhood, said Brett. One developer wanted to put in apartments, another a self-storage facility. A façade covering some of the original buildings will be torn down.
The buildings will be brought up to code and include new roofs, sprinklers, two-tone paint, lots of glass fronts and a new parking lot that can accommodate approximately 60 spaces. There will be space for outdoor seating along with golf cart and bicycle parking.
There are seven “units” available for lease. The second Coffee Underground location will occupy two of those at approximately 4,000 square feet. Owner Dana Lowie says she plans to expand her offerings with more food and restaurant space than the downtown location that’s been in business for 21 years.
Rent at Westone for 2,220 to 5,200 square feet will range from $23/PSF NNN to $25/PSF NNN.
Letters of intent are being accepted for the other spaces. Brett and Fletcher hope to have a good mix of restaurant, general retail, office and maybe a fitness center or brewpub.
Plans and timing are dependent on a couple of factors. The developers have submitted an application to the City of Greenville Planning Commission requesting the property to be rezoned from OD (office) to C-2 (commercial). That application will be heard at the Oct. 20 PC meeting, and a neighborhood meeting was held this week. If approved, the application will go before City Council for two readings. Since the property was once home to a dry cleaner, the site is also under a DHEC voluntary cleanup.
The developers hope to close on the property by the end of this year, with spaces delivered to tenants in early spring 2017 and opening summer 2017.