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vicupstate

Stone Avenue/North End

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The owner paid $2mm in 1997.  I wonder what he is asking now.  The problem is the land is more valuable that the building that is on it.  Most developers would want to buy it and demo the current building.  I know there are some commercial Realtors that post here, what could a developer justify paying for it, if they only want the land itself?  

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The townhomes at the corner of Main and Park Ave (just behind Headquarters Day Spa) have started. They tore down the old house that was formally on this land last year. Site work began last week. These will have some great views of Downtown.

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I saw this earlier on my drive to work. I wish that this land would be combined with the land behind it across Richland Creek up to Becker St. For a Main and Stone type development... where are the creative/big thinker? Or do you all think this cycle is winding down?

20160629_072553.jpg

Edited by johnpro318

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^In my opinion, multi-family/mixed-use developers looking at the market in and around downtown Greenville right now are most likely waiting to see how quickly current new supply is absorbed. 

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Don't get your hopes up to high for this area.  Many of the properties are in floodway and can't be redeveloped.

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1 hour ago, btoy said:

Don't get your hopes up to high for this area.  Many of the properties are in floodway and can't be redeveloped.

I had heard this as well, and obviously with what happened to Pete's that location is definitely going to have challenges. Any idea about some of the properties closer to the new NorthPoint development? If nothing else can be done with these properties wouldn't the city have some type of interest of working with owners to clear the space and at least making them look decent, being that it gets a fair amount of traffic.

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wUYp7R9.jpg

This is the FEMA map for the area.  The red area is flood way and the blue is 100 year flood plain.  Nothing new can be built in flood way.  You can build in the flood plain but any livable area must be raised 4 feet above the flood elevation.  But garages and parking can be at flood level.

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^ The 3 acre parcel is outside, so that wouldn't be a problem. The city should buy the Iron Horse property and convert it to a trail/park, if the land can be bought for a reasonable price.  The land on Becker could then be developed to overlook the park.  The city already owns several of the lots on Becker. 

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There is a DHEC notice on the For Sale sign at Battery and ElectricCompany BECO/ Aiken Enterprise property. It is a 1.1 acre parcel.  

Page 5 of the DHEC form states:

Westone plans to redevelop the property and buildings for use as a mix of convenience retail,restaurant, geneal commercial and/or office uses.

   

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17 hours ago, vicupstate said:

There is a DHEC notice on the For Sale sign at Battery and ElectricCompany BECO/ Aiken Enterprise property. It is a 1.1 acre parcel.  

Page 5 of the DHEC form states:

Westone plans to redevelop the property and buildings for use as a mix of convenience retail,restaurant, geneal commercial and/or office uses.

   

Interesting - the lot directly to the right is owned by the same Westone LLC. Then the empty lot to the right of that lot is owned by http://www.southernid.com/ - Just bought in July. Then the three two smaller lots on the corner of Wilton and Stone are owned by LLCs called StoneWest 123 and StoneWest 125. Wonder if that Southern Land and Development company is putting all 5 together.

This combined with the 4 lots on the corner of Elizabeth and Stone being in one owners hands could continue the drastic change on the middle of Stone Ave. Ive always thought the used car lot and the tire shop would be ripe to combine as well for development.

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