Biggest real estate flops in Greenville

[mallguy]

Out of curiosity:

What have been the biggest real estate flops in Greenville, meaning:

* Investments that have bombed

* Buildings that have looked really bad

* Buildings that haven't lasted

Of the current projects in the works, do you think that any of them could be flops?

To propose my own answers, I'd say that the biggest flops in my lifetime have been Greenville Mall's second incarnation, since the developers spent at least $65 million on it and it was demolished after only about 10 years, as nice as it was, and perhaps Bell Tower Mall, which didn't even last more than about 10 years, either.

I can't think of any definite flops these days, although those downtown hotels and apartment complexes might be dated in 10 years, and I hope that the apartment complexes don't attract a low-income clientele once they aren't nice and new.

Thoughts?

[gman430]

Menin spent $65 million on Magnolia Park but they sold it for $80+ million which would equal a $15+ million profit: http://upstatebusinessjournal.com/news/magnolia-park-sold-80m/ How is that a bad investment?  

[mallguy]

The developers of Greenville Mall's re-do in 1995 also spent $65 million on it.  I don't recall how much they sold the carcass for in the early 2000s, but I'm guessing that they lost money.

Magnolia Park seems to be doing well- at long last that site works for something.

[Exile]

The Geodesic Cube partially built on top of Roper Mountain for the state's tricentennial in 1970. It sat unfinished on top of the hill for a long time before they began to develop the Science Center. I don't know how much money was spent on it, but it was an eyesore and embarrassment.

[ausrutherford]

In terms of buildings that will not last...

98 E. McBee...

[GvilleSC]

8 hours ago, ausrutherford said:

In terms of buildings that will not last...

98 E. McBee...

^^^ This. 

[Birdbrain]

I cast a vote for the gaping hole that used to be the Brown Box. Sure, it doesn't meet the criteria, but how many Gateway plans have come and gone, while the weeds continue to grow up on the chain link fence? (Shrug.)