gman

Camperdown (Greenville News Building Site)

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Great news. :) Can't wait to see what's planned. Now if we could just do something about that parking lot across the street.

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It says a lot for Greenville that there is so much interest in this property, especially since it has not formally gone on the market yet.  Potential buyers from around the country know what a prime site this is, which is great for the city because the sale of it should get top dollar.  And that means a high-quality investment by whomever buys it.

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Great news. :) Can't wait to see what's planned. Now if we could just do something about that parking lot across the street.

 

That is an interesting lot. The 50" by 50" section of the corner is owned by the city as future court/green space. That would make it ideal for a hotel (the court for Poinsett Hotel is also city owned). 

The other part we need to think about, the Greenville News will be looking for a pretty big office downtown...... 

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The mayor wants a convention center. Is it big enough for a hotel and a convention center(4 acres)? Is it possible that these buyers chomping at the bit are investors that could buy it, sit on it a few years and the resell it for a big profit?

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The mayor wants a convention center. Is it big enough for a hotel and a convention center(4 acres)? Is it possible that these buyers chomping at the bit are investors that could buy it, sit on it a few years and the resell it for a big profit?

 

The convention center would certainly be a squeeze, especially when incorporating the necessary on site parking for the hotel. To your second point, no. The review process for the purchase seems to be extremely stringent. They (Earle Furman, Gannett, and the City) are not going to let the property "sit."

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It's so odd that The Greenville News is such a hotly coveted property...yet the freaking parking lot across the street has been sitting there vacant forever.

 

This is a great point.  We haven't heard a thing about the lot across the street in what, 8 or 9 years?  The last thing I remember mentioned for that site was a high rise by a local developer (who I believe owns the site).  This was during the high rise proposal "boom" in 2005.  Like many of the proposals at that time, It never materialized though.

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It's so odd that The Greenville News is such a hotly coveted property...yet the freaking parking lot across the street has been sitting there vacant forever.

My guess is that the lot owners don't want to sell it.

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The vacant lot is owned by three different parties, plus the smaller buildings are owned by two other parties.  It is always more difficult to get multiple parties to sell at the same time.  

 

With all the developer interest being shown and with the new project going up on the Greenville News site, I doubt it would be long before this property sold too. 

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The Greenville News property is generally more desirable than the vacant lot because it offers more Main Street frontage (directly accross from the Peace Center) and sits very close to Falls Park on the Reedy - consequently a shorter distance from RiverPlace and the Swamp Rabbit Trail - all of which increase the property's value.

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http://gsabusiness.com/news/50576-greenville-mayor-says-city-needs-partner-for-convention-center-downtown

 

More from Mayor White on a Convention Center.  

 

So the TD Center has to be sold, and the new site might be donated?  If the TD Center is being sold, why is it about to undergo more renovations?  

Edited by vicupstate

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So that it can be attractive to buyers. Apparently some things have been neglected and need to be done first.

Why not let the new buyer do the work?  Their needs and desires may be completely different? Plus you generally can't get back all the money spent on upgrades. 

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Hot off the presses:

 

The Greenville News building is under contract to be sold to a Dallas, Texas, firm, said Larry Pantlin, senior managing director of Trammell Crow Co.

A sales price was not disclosed.

The building will be demolished and it will be replaced by a mixed-use development that will include a hotel, office space, residential units and retail space, Pantlin said.

http://www.greenvilleonline.com/story/news/local/2014/08/14/greenville-news-building-sales-contract/14066989/

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That company buying that piece of property is an outstanding developer. If they are going to build here, its not going to be crap. They have a pretty good track record as far as quality developements. Its obvious they already have the plans. The public is just going to have to wait to see them.

Im going to make this predictions. Watch out for the parking lot across the street. It won't stay empty long. I don't know anything. It's just have a gut feeling. I just know someone's been looking at it. But like i said. I don't know anything.

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