Historic Congaree Vista Developments

[krazeeboi]

On 3/6/2020 at 12:11 PM, victory said:

I am curious to see the renderings of the other two. With one of them being a Hyatt Regency, and the announcement it will become Columbia's largest hotel, I wonder how many floors it will be. Judging by the placement against the conference center, I suspect it will be larger but not in a vertical sense. 

Same here. I think some spiffy renderings would really help with pushing the convention center expansion forward, which would in turn make this development a reality.

According to this month's DDRC agenda, it looks like the Edge at Assembly and Washington next to the county library and the Cambria Hotel at Lady and Park should be moving forward soon. 

[victory]

6 hours ago, krazeeboi said:

Same here. I think some spiffy renderings would really help with pushing the convention center expansion forward, which would in turn make this development a reality.

According to this month's DDRC agenda, it looks like the Edge at Assembly and Washington next to the county library and the Cambria Hotel at Lady and Park should be moving forward soon. 

Excellent news on the Edge and the Cambria. The Edge will certainly fill out the downtown skyline a bit, and the Cambria continues to add guest rooms to the Vista; seems the expansion of the convention center is inevitable, if not overdue. 

[krazeeboi]

40 minutes ago, victory said:

Excellent news on the Edge and the Cambria. The Edge will certainly fill out the downtown skyline a bit, and the Cambria continues to add guest rooms to the Vista; seems the expansion of the convention center is inevitable, if not overdue. 

Absolutely, and then there are the two proposed hotels for the Kline site also. The demand for a bigger convention center is already there; all that is needed is the political will to make it happen.

[victory]

1 hour ago, krazeeboi said:

Absolutely, and then there are the two proposed hotels for the Kline site also. The demand for a bigger convention center is already there; all that is needed is the political will to make it happen.

Completely agree!

 

[victory]

https://www.msn.com/en-us/money/realestate/covid-minded-apartments-with-home-offices-planned-for-historic-vista-buildings/ar-BB17mwOA

[victory]

A 5 story, 130 room extended stay hotel will be constructed in the Vista, at the corner of Huger and Senate Streets. I would link the story from the State, however, it is paywall protected.  

[krazeeboi]

If you haven't exhausted all your free views this month without a subscription to the State, you can view the article. The link is here.

And here's the rendering. I've heard that it could be a Residence Inn.

 

[krazeeboi]

A new 279-unit apartment building is proposed near University of South Carolina’s Greek Village and wellness center.

Lofts on Lincoln Street would be five stories and include one, two and three-bedroom units, according to an application submitted to the city of Columbia’s Planning Commission for approval. 

Separated by only a railroad track to the north, the complex would be well within walking distance of Greek Village and the Strom Thurmond Wellness Center. But neighborhood residents said the company has told them it plans to market to graduate students and recent graduates.

[krazeeboi]

The planned overhaul of downtown Finlay Park might be on hiatus, but redevelopment of the area’s former Veterans Administration office into high-end apartments is moving forward. Delays due to the coronavirus pandemic put the project about six months behind schedule, said Alex Cole, a spokesman for the development company Global Ocean Investments. The company plans to start construction this summer. 

[krazeeboi]

The proposal to expand the Columbia Metropolitan Convention Center, put on the back burner since the coronavirus pandemic, is gaining momentum again even as travel slowly recovers from the virus’ economic effects.

One sign of the proposal’s revival: Gov. Henry McMaster proposed spending $15 million on the project in his executive budget of released earlier this month.

The expansion would add 75,000 square feet, building out into the lower parking lot, a possibility that was part of the building’s original design.

The business of attending conventions was “put on pause” by the pandemic but should come back as strong as before or stronger, [local developer Ben] Arnold said. Mid-sized cities such as Columbia, which travelers more often drive to than fly, could be among the earlier destinations to rebound.

[victory]

On 1/31/2021 at 7:32 PM, krazeeboi said:

The proposal to expand the Columbia Metropolitan Convention Center, put on the back burner since the coronavirus pandemic, is gaining momentum again even as travel slowly recovers from the virus’ economic effects.

One sign of the proposal’s revival: Gov. Henry McMaster proposed spending $15 million on the project in his executive budget of released earlier this month.

The expansion would add 75,000 square feet, building out into the lower parking lot, a possibility that was part of the building’s original design.

The business of attending conventions was “put on pause” by the pandemic but should come back as strong as before or stronger, [local developer Ben] Arnold said. Mid-sized cities such as Columbia, which travelers more often drive to than fly, could be among the earlier destinations to rebound.

If this expansion happens, look for a proliferation of hotel and other construction in the vicinity.  This is the calm before the city really puts it in the next gear.

[victory]

I've been working remotely for almost a full year now, and as a consequence, don't get downtown as much as I like. Yesterday, my signature was required on a document, so I had a good excuse to travel downtown. I was really pleasantly surprised to see just how much construction has been going on, even during this depressed time. New condos/apartments on Huger, condos on Assembly, the Cambria Hotel, etc. Once we can put some distance from the virus, I really think things are going to kick into overdrive!    

[victory]

If anyone is able to get behind the paywall, please tell us the substance of this report. Looks like Aughtry is wanting out, and looking to sell this really important piece of Vista property.    https://www.postandcourier.com/columbia/business/developer-of-huge-columbia-vista-site-changes-plans-seeks-new-partners/article_27476db6-a788-11eb-972a-27f784d4f9ef.html

[gman430]

9 minutes ago, victory said:

If anyone is able to get behind the paywall, please tell us the substance of this report. Looks like Aughtry is wanting out, and looking to sell this really important piece of Vista property.    https://www.postandcourier.com/columbia/business/developer-of-huge-columbia-vista-site-changes-plans-seeks-new-partners/article_27476db6-a788-11eb-972a-27f784d4f9ef.html

The owner of a huge redevelopment site in Columbia’s Vista is seeking to take on partners or sell some — perhaps even all — of the real estate.

The original $92 million redevelopment plan for the former Kline Iron and Steel site no longer fits the market, Greenville developer Bo Aughtry told The Post and Courier on April 27.

The plan for the seven-acre site at Huger and Gervais streets was unveiled in February 2020, just as the first U.S. cases of COVID-19 were being reported.

That plan was focused heavily on creating new office, hotel and retail space. With travel down and so many companies looking to have employees work from home even as the pandemic starts to ebb, that math has changed.

“Our master plan no longer feels viable to me,” Aughtry said.

The Windsor Aughtry company is advertising for business partners that might want to work with them on the site or to buy portions of it for their own projects. That could mean a business partnership bringing other uses such as apartments to the site.

Essentially, Aughtry said, his company is trying to gauge what might make more sense for the site. His company generally does not create apartment buildings, he said, but that’s a possible use that could make sense now.

The plan for the site in 2020 included at least one hotel in the first phase. Plans also included about 75,000 square feet of office space, 35,000 feet for commercial/retail development and a 307-space parking garage that was to be open to the public. 

Aughtry said his company still might oversee some or all of the project with a revamped plan, or it would sell the entire parcel for the right offer.

The company spent more than $5 million on the site and then saw the project grind to a halt for a year.

“We need to put it to use,” Aughtry said.

While the changes in the real estate market are the main reason that Aughtry is seeking additional investors, he also said that Columbia’s high property taxes present a challenge. When a Columbia project is debated, the tax rate often is the first question, he said.

“Property taxes in the city of Columbia discourage a lot of folks,” Aughtry said.

[victory]

13 hours ago, gman430 said:

The owner of a huge redevelopment site in Columbia’s Vista is seeking to take on partners or sell some — perhaps even all — of the real estate.

The original $92 million redevelopment plan for the former Kline Iron and Steel site no longer fits the market, Greenville developer Bo Aughtry told The Post and Courier on April 27.

The plan for the seven-acre site at Huger and Gervais streets was unveiled in February 2020, just as the first U.S. cases of COVID-19 were being reported.

That plan was focused heavily on creating new office, hotel and retail space. With travel down and so many companies looking to have employees work from home even as the pandemic starts to ebb, that math has changed.

“Our master plan no longer feels viable to me,” Aughtry said.

The Windsor Aughtry company is advertising for business partners that might want to work with them on the site or to buy portions of it for their own projects. That could mean a business partnership bringing other uses such as apartments to the site.

Essentially, Aughtry said, his company is trying to gauge what might make more sense for the site. His company generally does not create apartment buildings, he said, but that’s a possible use that could make sense now.

The plan for the site in 2020 included at least one hotel in the first phase. Plans also included about 75,000 square feet of office space, 35,000 feet for commercial/retail development and a 307-space parking garage that was to be open to the public. 

Aughtry said his company still might oversee some or all of the project with a revamped plan, or it would sell the entire parcel for the right offer.

The company spent more than $5 million on the site and then saw the project grind to a halt for a year.

“We need to put it to use,” Aughtry said.

While the changes in the real estate market are the main reason that Aughtry is seeking additional investors, he also said that Columbia’s high property taxes present a challenge. When a Columbia project is debated, the tax rate often is the first question, he said.

“Property taxes in the city of Columbia discourage a lot of folks,” Aughtry said.

Thank you!

[krazeeboi]

The project under Aughtry was getting a FILOT deal. While I understand the complaint about property taxes in general, there's no doubt some similar deal would be extended to other investors. 

 

[victory]

https://www.thestate.com/news/local/article252621533.html   This deal has been on the table for years now. I get so frustrated by how slow things get done in my hometown. This would be a no-brainer. Rickenmann is running for mayor, and is trying to show he is the fiscal conservative. If this can be financed without causing unnecessary liability to the city, then there seems no need to oppose it. This would be one of those "transformative" projects with ripple effects to the city and region's economies that are difficult to estimate. Do it..NOW! 

[krazeeboi]

On 7/9/2021 at 6:30 AM, victory said:

https://www.thestate.com/news/local/article252621533.html   This deal has been on the table for years now. I get so frustrated by how slow things get done in my hometown. This would be a no-brainer. Rickenmann is running for mayor, and is trying to show he is the fiscal conservative. If this can be financed without causing unnecessary liability to the city, then there seems no need to oppose it. This would be one of those "transformative" projects with ripple effects to the city and region's economies that are difficult to estimate. Do it..NOW! 

Finlay didn't even advocate for the project to get full funding in the legislature....I couldn't believe he said city leaders weren't persuasive enough and couldn't answer his questions. Like DUDE, YOU LIVE IN COLUMBIA and know how important the convention center expansion is.  With "friends" like that, who needs enemies? 

[victory]

7 hours ago, krazeeboi said:

Finlay didn't even advocate for the project to get full funding in the legislature....I couldn't believe he said city leaders weren't persuasive enough and couldn't answer his questions. Like DUDE, YOU LIVE IN COLUMBIA and know how important the convention center expansion is.  With "friends" like that, who needs enemies? 

Exactly.

[victory]

https://www.wistv.com/2021/08/02/columbia-city-council-scheduled-take-up-convention-center-project-lobbying-meeting/   Very disappointing. 

[victory]

https://scbiznews.com/news/hospitality-and-tourism/80960/ Will be completed by fall's end. I am glad to see this. This one block is probably the only block in the Vista not having sidewalks. Always seemed a bit odd. This will make things a little safer for pedestrians and of course, make the surroundings a bit prettier.

[victory]

https://www.thestate.com/opinion/article256215857.html  Needs to get done.

[victory]

https://www.thestate.com/news/local/article259198123.html  Here's a new article on the Convention Center expansion, which includes a new rendering I've not yet seen. Man, this would be huge for downtown if city leaders make the commitment.

[krazeeboi]

7 hours ago, victory said:

https://www.thestate.com/news/local/article259198123.html  Here's a new article on the Convention Center expansion, which includes a new rendering I've not yet seen. Man, this would be huge for downtown if city leaders make the commitment.

I can't make heads or tails of that rendering. That aside, I hope the city doesn't let this opportunity pass it by. Benjamin was definitely strongly in favor of expansion; I'm not sure how strongly Rickenmann feels about it though. 

[victory]

3 hours ago, krazeeboi said:

I can't make heads or tails of that rendering. That aside, I hope the city doesn't let this opportunity pass it by. Benjamin was definitely strongly in favor of expansion; I'm not sure how strongly Rickenmann feels about it though. 

Agreed. I can see Adluh in the rendering, but it was the only landmark I could locate for reference. Rickenmann has traditionally been pretty fiscally conservative. However, he is a business man (used to run Birds on a Wire on Devine St, and now sells solar paneling or some such thing), so I know he's in tune with knowing what is or what is not, a good deal. I see this as an investment which will pay tenfold in dividends. It would continue to unlock Cola's potential as a city, and provide work, housing, and more conventioneers to spend money here.