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gman430

CONSTRUCTION THREAD: Perimeter Condominiums - Rhett and Markley

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^^ I think once the QT and Markley Station projects get underway, these would be more marketable. I think the 24 unit Traverse project next door has 4 units sold.   

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There are going to be a whole heck of a lot of new units in the area by the time these late bloomers finish construction. Hopefully this competition drives quality up and not the other way around to ensure margins are met with potential lower rents.

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On 11/4/2016 at 9:09 AM, gvegascple said:

There are going to be a whole heck of a lot of new units in the area by the time these late bloomers finish construction. Hopefully this competition drives quality up and not the other way around to ensure margins are met with potential lower rents.

Theres a lot in apartments...but I think a lot less units in terms of condos.

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Another new hotel, plus self storage? Interesting mix of uses.

+/-123 rooms + retail. All rooms would face Markley and Rhett. Seems like the best views of downtown could be solid walls (or corridors for storage). Design will be critical.

http://sc-greenville.civicplus.com/AgendaCenter/ViewFile/Item/3950?fileID=14439

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Another hotel?  Should we infer that despite several new hotels built  and others announced that downtown needs more hotels?

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21 minutes ago, B&R said:

Another hotel?  Should we infer that despite several new hotels built  and others announced that downtown needs more hotels?

Yes. Downtown needs more hotels: 

Accommodations tax revenue, collected on hotel rooms and other lodging, has increased by 65 percent in the city of Greenville, 44 percent in the county. Hospitality tax revenue, a tax added to bills for prepared food and beverages, has increased from $6.85 million in 2011 to $9.67 million in 2015. Thirty percent of restaurant sales come from visitors.

In years past, Greenville hotels had more guests during the week than on weekends, indicating most visitors were in town for business. Over time that has shifted, especially downtown, with hotel occupancy rates countywide increasing from 58 percent in 2008 to 73 percent in 2016, dramatically outperforming state, regional, and national figures.

Source: https://greenvillejournal.com/2017/03/03/yeah-article-yeah-greenville/

Edited by gman430

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3 hours ago, Jet-set said:

Finally I'll be able to live downtown! Albeit in a storage unit..

If you contact the developer now, in the early stages, he might let you combine two storage units.

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15 hours ago, ausrutherford said:

I doubt this will fly far...

Based on what?  I would assume there is a Hotelier lined up. I would expect Self-Storage demand to be more than sufficient given the location. Given the work being done at Markley Station, the retail/restaurant space ought to be in demand as well.   It is a bit of an odd combination, but Self-Storage has got to be pretty profitable. I pay $85 for 50 SF. 

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21 minutes ago, vicupstate said:

Based on what?  I would assume there is a Hotelier lined up. I would expect Self-Storage demand to be more than sufficient given the location. Given the work being done at Markley Station, the retail/restaurant space ought to be in demand as well.   It is a bit of an odd combination, but Self-Storage has got to be pretty profitable. I pay $85 for 50 SF. 

I think he's basing it on the fact that the previous proposals by the developer have gone nowhere. Maybe this one will be different. Who knows. It is an odd combo for sure but one that might work downtown. Like GvilleSC said, design will be ciritical.

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Look at the Application, this is a different developer.  It is RealOp this time, they have come through with their projects downtown.  They did that building on Rhett St.  Markley Station is underway and they bought the BofA buildings.

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12 minutes ago, btoy said:

Look at the Application, this is a different developer.  It is RealOp this time, they have come through with their projects downtown.  They did that building on Rhett St.  Markley Station is underway and they bought the BofA buildings.

Ahhh...good eye. I didn't notice that. Maybe this project will be successful after all then. 

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I'm not basing that purely on location or the developer. Im basing that not the orientation of the usage. In particular, two whole side of that building not being active even though one side in particular would be valuable to be active (the rail side).

That said, maybe they have plans the neighboring parking lot to "cover" that side up on something.

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I hope the retail is truly street-engaging retail and not merely additional hotel amenity masquerading as retail space. 

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54 minutes ago, vicupstate said:

Trees were being cut down from this site today. 

It’s probably for the condo project next door rather than this one. 

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On 12/22/2017 at 9:07 AM, Jet-set said:

Funny that the Perimeter sign is still up on site; at least it was last weekend. 

I went by here today. The building is gone and most of the lot is cleaned up. Some of the trees have been removed. The only thing left is the Perimeter sign.  So, is that project still on? Anybody know anything?

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