Columbia Economic Notes

[Mr.Marc]

How soon we forget. It's going to be a 200-home neighborhood that follows the Richland County 20/20 plan. It was annexed into the city at the request of the developers. It was owned by these farmers who got out of farming but wanted it developed tastefully.

Thanks. Although I think it's a weird place for a neighborhood (hopefully it's not a subdivision). I hope there's some retail in store for the area though.

[sonofaque86]

Yeah, I think it's supposed to be shooping, retail and homes too. It's not just a subdivision

Edited January 5, 2008 by sonofaque86

[emerging.me]

Yeah, I think it's supposed to be shooping, retail and homes too. It's not just a subdivision

Right. My best recollection is that it was a traditional neighborhood style development with a mixed-use town center-ish area.

[CorgiMatt]

In Friday's busiiness section, the journalist who writes each Friday about Columbia area retail wrote that Duncan Donuts has increased its plans for new stores in Columbia to 31, up from 28. We have only three now.

[waccamatt]

Quit making me hungry, Corgi. I understand Dunkin' Donuts is trying to be the working man's version of Starbucks. That plan is pretty ambitious, especially since Columbia is such a white collar town.

[CorgiMatt]

Grant Jackson, the business editor with "The State," has accepted a job as senior vice president of community development with the Greater Columbia Chamber of Commerce. I like what he has to say in the attached article.

http://www.thestate.com/business/story/278036.html

[krazeeboi]

The State reports that Assembly Station, the 388-unit apartment complex to be built at Assembly and Whaley streets, could begin within a month.

[krazeeboi]

Work is now underway on Assembly Station. Workers are removing asbestos and beginning to demolish buildings on the 7.25-acre site. The project will be built in one phase over the next 16 months.

[waccamatt]

That's great news. 388 units sounds like a very large complex. There could end up being nearly 1000 people living in those 2 square blocks. That's the kind of density I like to see.

[Captain Worley]

I think it was a really smart ideas to go with apartments rather than condos there.

[waccamatt]

There is an article about Adesso and an interview of John Holder of Holder Properties in today's State. He mentions that Columbia is in a very similar position that Atlanta was a few decades ago and that he is very bullish on our market. It is nice to have a large developer so interested in our market.

John Holder interview

[Captain Worley]

Wow, only ten units sold. Aren't there something like 110 units?

I think the prices are going to have to come down.

[Spartan]

I suspect that since this type of housing is still relatively new to Columbia, people will want to be able to see the units in person, rather than preconstruction. Also, Innovista is still very young...

[waccamatt]

I suspect that since this type of housing is still relatively new to Columbia, people will want to be able to see the units in person, rather than preconstruction. Also, Innovista is still very young...

I once bought a condo during construction. People are very wise to wait until a building is finished before buying a unit. I'll never make the mistake of buying during construction again.

[krazeeboi]

Yeah, that same article mentioned that the model just opened, so hopefully that will spark some new interest. And I do suspect that prices will come down a little as well.

Holder Properties really came into town at a good time--right around the time when Columbia was starting to look at itself more for what it could become instead of what it just is. It also helped that there's really no local developer of midrise/highrise office space in the city. It was just a wide open field when Holder came in.

[waccamatt]

I went on a photo shoot last week to get photos of some of the new developments in town. These are just from in-town developments as I rarely venture out to suburbia. I can't post all of my photos so I will add the rest of them tomorrow.

Adesso Condominiums, which will be opening soon at the corner of Main and Blossom:

This is the site of the new USC Honors College dorm with Adesso in the background:

This is the Horizon I research building, which is at the same intersection as Adesso and the Honors College dorm:

Land clearing for Assembly Station apartments. The rendering is below the photo:

The Battery at Arsenal Hill:

The Biomedical Research Building under construction at USC and its adjoining parking garage:

Canal Place (and the views of the canal, the Three Rivers Greenway/Riverfront Park and the river from there):

Canalside:

Center Vista Site:

Edited March 23, 2008 by waccamatt

[Spartan]

Wow thanks for the tour! Great pictures all around

I have to say, though, that the Canal Place development is very underwhelming. It looks like a standard front-loaded subdivision. To their credit, its not a generic cookie-cutter subdivision. I guess I had expected more out of this place.

[waccamatt]

Here are the rest of the photos that I took. One of these days Firefox will hopefully post the ones he took.

The new City Bus Depot:

The New Five Points Fountain:

The fountain with the Five Points South site behind it, followed by a FPS rendering:

The Olympia Mill renovation into loft apartments is nearly completed:

Olympia Community Center renovation:

Rosewood Hills low to moderate income housing, which replaced Hendley Homes public housing. You can see the proximity to Williams-Brice Stadium:

Senate Club Renovation:

SC Auto Dealers Assn:

The Shoppes at Lady Street and the Carolina Ale House:

Springhill Suites site clearing in the Vista:

Staybridge Suites construction, also in the Vista:

New USC Band and Dance Hall construction:

New USC Baseball Stadium construction:

900 Pulaski Town homes construction in the Vista:

New City Parking Garage and retail in the Vista:

That's it for now.

[krazeeboi]

Thanks for the construction updates, Matt; looks like you and Firefox went on quite an extensive tour there. Thanks for including some of the projects we've kind of forgotten about, like Rosewood Hills.

I wonder how Congaree Pointe on Atlas Road, across from Bible Way Church, is coming along. Last time I was in that area, it looked like land was being cleared.

[waccamatt]

Thanks for the construction updates, Matt; looks like you and Firefox went on quite an extensive tour there. Thanks for including some of the projects we've kind of forgotten about, like Rosewood Hills.

I wonder how Congaree Pointe on Atlas Road, across from Bible Way Church, is coming along. Last time I was in that area, it looked like land was being cleared.

I haven't been that far out on Bluff Road in years, but I did go out to see the new college cottages off Bluff Road with my lunch buddy from work. I should have gone back out there last week to take pictures.

[dobboard]

Wow, what an impressive and comprehensive group of photos. Thanks for taking them.

A couple of thoughts/questions...

The power lines around Adesso, Horizon and in the one Canal Side photo are enough to make you nauseous. If those are not buried, each of the projects suffer significantly.

The Horizon building is a shell of its original design. Too blocky.

Where exactly are the Senate Club apartments located? On Senate St. over by the University? Always nice when classic living quarters like those are redone.

How about the Auto Dealers building? Where is it located?

Again, great shots. They are much appreciated.

[waccamatt]

Wow, what an impressive and comprehensive group of photos. Thanks for taking them.

A couple of thoughts/questions...

The power lines around Adesso, Horizon and in the one Canal Side photo are enough to make you nauseous. If those are not buried, each of the projects suffer significantly.

The Horizon building is a shell of its original design. Too blocky.

Where exactly are the Senate Club apartments located? On Senate St. over by the University? Always nice when classic living quarters like those are redone.

How about the Auto Dealers building? Where is it located?

Again, great shots. They are much appreciated.

Thanks Dobboard, I agree about the power lines, but I guess we're just going to have to be patient as the city gradually completes streetscaping projects. I'm sure there won't be any power lines inside of Canalside, but those were on the outside of the project. The Senate Club building is a renovated apartment building at the corner of Senate and Marion, directly across Marion Street from Clare Tower. The Auto Dealers Association is located at the corner of Hampton and Pulaski, close to Renaissance Plaza and the new Springhill Suites Hotel under construction.

[scguy88]

I've though the same thing about the Horizon building lacking in architecture, but then I remember that you won't even see it from the assembly side as Horizon II will cover that up and once the honors dorms are built, their will be so much height at that intersection, I think it will fit in nicely to not have any "wow" factor as both Adesso and the Honors dorm will do a fairly decent job at that (hopefully).

[dobboard]

I've though the same thing about the Horizon building lacking in architecture, but then I remember that you won't even see it from the assembly side as Horizon II will cover that up and once the honors dorms are built, their will be so much height at that intersection, I think it will fit in nicely to not have any "wow" factor as both Adesso and the Honors dorm will do a fairly decent job at that (hopefully).

The problem there is that the Horizon II is going to look just like the one currently under construction. So that "blocky" design will slap you in the face as you come up Assembly. USC and Craig Davis cut corners and it shows.

Not that the original designs were earth shattering from an architectural standpoint, but they looked much better then what is going up there now.

[CorgiMatt]

Horizon II's rendering is quite attractive actually.