Posted 05 January 2012 - 03:27 PM
From Greenville News:
Potential new development and city beautification work along Haywood Road may signal a revival of the commercial corridor where business and property owners have long been concerned about retailers and shoppers leaving for greener pastures on Woodruff Road.
RealtyLink, a Greenville-based developer, hopes to redevelop the property that Toys R Us is planning to vacate at the intersection of Haywood and Woods Crossing Road as well as the shopping center next door where Circuit City used to be, a principal with the development firm said.
“It will probably be the first major development along the Haywood Road corridor in the last ten years,” said Greenville architect Joe Pazdan. Pazdan, whose family owns land along Haywood Road, is part of a group of business and property owners that has worked with city officials to spruce up the corridor. He said the RealtyLink development, if it succeeds, will show “there’s still life around the Haywood Road corridor and interest from retailers.”
Neil Wilson, a principal with RealtyLink, confirmed the redevelopment project but said he wasn’t at liberty to provide details.
Not far away, where Woods Crossing Road turns into Congaree Road, Greenville real estate broker Marty Navarro is working to bring new development to 10.7 acres where the Yagoto Japanese restaurant and Nippon Center used to be. The property is owned by the Tsuzuki family.
Navarro said he’s talked to apartment developers and a national chain about developing the site, which is next to Haywood Mall and includes a 16,000-square-foot building.
“What we’re trying to do is sell the site, either in its entirety or acting as a master developer where we could sell off smaller parcels with a well-conceived master plan in place,” Navarro said. “We feel it’s a pretty incredible site.”
Meanwhile, the city of Greenville is ready to launch two long-planned beautification projects along Haywood Road.
Work to bury power lines at the intersection with Woods Crossing and to landscape the Interstate 385 interchange should begin this year, said Greg Strait, an economic development analyst with the city.
Those projects originated with a consultant’s report that the city commissioned in response to concerns about keeping Haywood Road vibrant amid newer retail development along Woodruff Road.
Since the report came out in 2009, three major retailers — Rooms to Go, Toys R Us and Babies R Us — have moved, or agreed to move, from Haywood Road to the Magnolia Park Town Center along Woodruff Road.
City Councilman David Sudduth, who represents most of the Haywood Road corridor, said the city’s economic development department has been aggressive about marketing vacant retail properties along the corridor “and I want to see us do that even more during the new year. I think the market and the economic tide is turning.”
Sudduth said the city still reaps a lot of property tax and business license revenue from Haywood Road.
“We’ve spent virtually no money there for quite a while and (city investment in new infrastructure is) long over due,” he said.
The city so far has not implemented other ideas contained in the consultant’s report.
Those include turning Haywood and Mall Connector roads into tree-lined boulevards with sidewalks and building an amphitheater for family entertainment on 25 acres near Fluor Corp.'s campus.
A Charlotte developer had planned a mix of shopping, offices, housing and a hotel on the site before the economy turned sour.
Navarro said he believes Haywood Road is due for a resurgence of retail development over the next two to five years. It’s in the middle of town, he noted, and near campuses operated by Fluor Corp. and the Greenville Hospital System.
Navarro said the corridor’s biggest draw, Haywood Mall, continues to perform well despite all the new shopping that’s developed on Woodruff Road over the past decade.