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Affordable housing initiative.


gman430

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The City of Greenville is looking at doing a $26 million bond for affordable housing. City council is looking to pass it by the end of this year. This is on top of the incentives package the county passed last year for affordable housing. 

More affordable housing coming to the Unity Park area: https://www.instagram.com/p/CopayLQNZSg/

Edited by gman430
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  • 1 month later...

These two things are great to see:

The Greenville Housing Fund currently has multiple development projects throughout the city that have stalled due to uncertain financing as interest rates continue to rise. Brown said the new funding will allow those projects to move forward as well as support other initiatives:

https://www.postandcourier.com/greenville/news/greenville-fund-to-borrow-30m-to-speed-up-affordable-housing-efforts/article_2c137b72-cca3-11ed-adc9-7bcfa426db87.html

https://www.greenvillesc.gov/AgendaCenter/ViewFile/Item/10387?fileID=59042

The same pot of tourism tax dollars used to fund iconic Greenville projects including Falls Park and Unity Park could be applied to affordable housing if a bill working its way through the state Legislature becomes law:

https://www.postandcourier.com/greenville/news/sc-bill-would-let-greenville-use-tourism-funds-for-affordable-housing/article_50cbf3dc-ca6d-11ed-b704-6313f0d93962.html

Edited by gman430
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8 minutes ago, gman430 said:

These two things are great to see:

The Greenville Housing Fund currently has multiple development projects throughout the city that have stalled due to uncertain financing as interest rates continue to rise. Brown said the new funding will allow those projects to move forward as well as support other initiatives:

https://www.postandcourier.com/greenville/news/greenville-fund-to-borrow-30m-to-speed-up-affordable-housing-efforts/article_2c137b72-cca3-11ed-adc9-7bcfa426db87.html

https://www.greenvillesc.gov/AgendaCenter/ViewFile/Item/10387?fileID=59042

The same pot of tourism tax dollars used to fund iconic Greenville projects including Falls Park and Unity Park could be applied to affordable housing if a bill working its way through the state Legislature becomes law:

https://www.postandcourier.com/greenville/news/sc-bill-would-let-greenville-use-tourism-funds-for-affordable-housing/article_50cbf3dc-ca6d-11ed-b704-6313f0d93962.html

Good to see people not just throwing up their hands when the the inevitable roadblocks or delays happen.

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  • 1 month later...

Wasn't sure where to put this but thought this thread was appropriate. 

I wonder how feasible it would be to turn this property into a residential project that would contain a significant affordable housing component. I worked in this building for years and know it well. The floors have few interior walls as most floors were cube farms. I would estimate 155-170 units could fit into the 189k SF of space. Plus the parking requirements would probably be lower than office use, thus some of the 13+ acres could be used for a new construction building, perhaps including  some retail. I was thinking where the Pleasantburg 'bend' meets Edwards Rd.  There is already a fitness center that could serve as an amenity for the residents.   There is a nice spot for a pool in the back too. The property is listed as $13.7 million ($72 a foot) but it has been on the market for years and you could probably get it for a least a little lower than that.  It could be annexed into the city without difficulty and thus boost the city tax base.   This part of town is not an office submarket at all and I think that is one reason why it has been vacate so long.  I don't know if this is classified as Class B or C, but we have too much of both and taking 189k SF out of the market would be helpful.  There is a great space for a mural that would face Wade Hampton too.   The buildings are bland but it really wouldn't take that much to dress up the exterior IMO. 

2000 Wade Hampton Blvd.

Does anyone know anything further about this property as far as anyone looking at it in the past?  What is the likelihood that my idea would pencil out, keeping in mind that property tax abatement would probably be a given. 

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21 hours ago, vicupstate said:

Wasn't sure where to put this but thought this thread was appropriate. 

I wonder how feasible it would be to turn this property into a residential project that would contain a significant affordable housing component. I worked in this building for years and know it well. The floors have few interior walls as most floors were cube farms. I would estimate 155-170 units could fit into the 189k SF of space. Plus the parking requirements would probably be lower than office use, thus some of the 13+ acres could be used for a new construction building, perhaps including  some retail. I was thinking where the Pleasantburg 'bend' meets Edwards Rd.  There is already a fitness center that could serve as an amenity for the residents.   There is a nice spot for a pool in the back too. The property is listed as $13.7 million ($72 a foot) but it has been on the market for years and you could probably get it for a least a little lower than that.  It could be annexed into the city without difficulty and thus boost the city tax base.   This part of town is not an office submarket at all and I think that is one reason why it has been vacate so long.  I don't know if this is classified as Class B or C, but we have too much of both and taking 189k SF out of the market would be helpful.  There is a great space for a mural that would face Wade Hampton too.   The buildings are bland but it really wouldn't take that much to dress up the exterior IMO. 

2000 Wade Hampton Blvd.

Does anyone know anything further about this property as far as anyone looking at it in the past?  What is the likelihood that my idea would pencil out, keeping in mind that property tax abatement would probably be a given. 

Just based on its appearance from above, and not any other considerations, my first thought is hospital campus.

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11 hours ago, gman430 said:

Tear it down and put a public park on site I say. More greenspace, better quality of life, and less vacancy rate is always a win-win.

It is a very good spot for something like that, but the county would have to do it. After spending $66 million on Unity Park, I don't think the city will be building any new parks anytime soon. Plus it would be serving mostly people that live outside the city.  The county is too tapped out trying to repave roads.   

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  • 3 months later...
On 12/8/2023 at 3:18 PM, vicupstate said:

Wasn't sure where to put this but thought this thread was appropriate. 

I wonder how feasible it would be to turn this property into a residential project that would contain a significant affordable housing component. I worked in this building for years and know it well. The floors have few interior walls as most floors were cube farms. I would estimate 155-170 units could fit into the 189k SF of space. Plus the parking requirements would probably be lower than office use, thus some of the 13+ acres could be used for a new construction building, perhaps including  some retail. I was thinking where the Pleasantburg 'bend' meets Edwards Rd.  There is already a fitness center that could serve as an amenity for the residents.   There is a nice spot for a pool in the back too. The property is listed as $13.7 million ($72 a foot) but it has been on the market for years and you could probably get it for a least a little lower than that.  It could be annexed into the city without difficulty and thus boost the city tax base.   This part of town is not an office submarket at all and I think that is one reason why it has been vacate so long.  I don't know if this is classified as Class B or C, but we have too much of both and taking 189k SF out of the market would be helpful.  There is a great space for a mural that would face Wade Hampton too.   The buildings are bland but it really wouldn't take that much to dress up the exterior IMO. 

2000 Wade Hampton Blvd.

Does anyone know anything further about this property as far as anyone looking at it in the past?  What is the likelihood that my idea would pencil out, keeping in mind that property tax abatement would probably be a given. 

This property, including the newer building that was not on the market, is staked off with survey stakes. Maybe it is about to change hands and be redeveloped.  Maybe someone read my post and thought it was a brilliant idea!!??

Inquiring minds want to know. 

 

EDIT:  it appears the owner of the joint property has spun off the older property to a separate LLC for $5.25mm or less than $28 a sq ft. 

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