Innovista

[dobboard]

Reading between the lines (Pastides's quote) in today's paper, it's got to be Holder. He's "closer to the University" family, what with Adesso and Aspyre. He's waiting in the wings. Pastides says we'll know something in weeks, not months.

On the other hand the paper says Roscoe has a history of bringing law suits, so he could bring one and tie it up for years.

Exactly what I was thinking when I read the article this morning.

[waccamatt]

I get the impression that Parks needs to go, also.

[CorgiMatt]

This morning the paper says all the parties met for an hour and a half and are going to settle, and Roscoe is quoted as saying he's not going to sue. He even is quoted as saying that the Innovista concept will be successful because it's a unique model for the integration of a research campus into an urban setting, whereas suburban research campus across the country have become cramped (with traffic).

[GamecockEngineer]

http://www.columbiabusinessreport.com/news...ibilities?rss=0

Looks like Holder and Kahn are both "intrigued" by Innovista Possibilities.

[krazeeboi]

Kahn would definitely fit the description of a "local" developer that was talked about in a previous article. And even though Holder's not based in Columbia, his extensive work throughout downtown should automatically qualify him as well.

[waccamatt]

I think either one could definitely get it done. It would be nice to see that money stay in Columbia.

[krazeeboi]

The Free Times is to be commended for its investigative journalism concerning the relationship between John Parks and Kale Roscoe as well as what Roscoe actually did at UK--which conflicts with what Parks has previously stated. I'm pretty sure the heat is on Parks right about now. A pertinent excerpt:

In a story dated July 28, 2008, The State paraphrased Parks’ description of Roscoe’s achievements: “In Kentucky, Parks said, Roscoe and [financial partner Robert] Heath built eight private buildings totaling one million square feet, and attracted such tenants as IBM, Hewlett Packard and Minolta”...

First, the entire Coldstream campus, according to University of Kentucky executive director of public relations and marketing Jimmy Stanton, is only 830,000 square feet. Secondly, “IBM had chosen Coldstream prior to Roscoe’s involvement,” Stanton said in a response to emailed questions. Research also shows that Roscoe did not attract Hewlett Packard. The anchor tenant, Lexington-based Exstream Software, was purchased by HP during the building process in a move that had nothing to do with Roscoe. And Minolta?

“[T]he only current Minolta connection is that Minolta copiers are sold out of the Coldstream center,” Stanton said...

From 2005 up to now Roscoe has finished exactly one building at UK — the Exstream/HP building, which is currently the subject of several lawsuits by contractors and subcontractors over alleged non-payment. A second building scheduled to be finished in 2007 has only a core and shell finished, has only one tenant on one floor and is the subject of more than $2 million in lawsuits also alleging non-payment of contractors and subcontractors.

[krazeeboi]

Article in The State today talks about how Innovista is at something of a crossroads and what its options are for moving forward. Of course, at the top of the list is finding a new developer for the private buildings.

From reading the comments below the article, I really don't think people understand that Innovista is a long-term venture; it's not intended to be some sort of overnight wonder. That doesn't mean that proper due diligence was always done (especially in Kale Roscoe's case), but these sorts of endeavors take time and can sometimes get off to a slower start than anticipated. It took about 10 years for RTP in NC to start seeing anything significant happen. But I will note that one thing that has contributed to RTP's success is improvements to the airport (RDU). I'm more than certain that the same will have to happen in Columbia, to some degree or another, to ensure the eventual success of Innovista.

[Spartan]

IMO, they need to put less emphasis on the hydrogen aspects of this thing. Don't ignore it and don't stop pursuing it, but build the other areas first. It also doesn't help that Innovista didn't really get much momentum until right before the economy tanked.

Regarding the comments, I think that most people don't fully understand that this is not just about USC. It's about the Columbia metro and South Carolina as a whole. The state must build its knowledge based economy in order to be economically competitive in the future. We can't continue to rely on manufacturing jobs and tourism.

[krazeeboi]

IMO, they need to put less emphasis on the hydrogen aspects of this thing. Don't ignore it and don't stop pursuing it, but build the other areas first. It also doesn't help that Innovista didn't really get much momentum until right before the economy tanked.

Seems to me that that's what's been happening. The biggest Innovista-related announcements thus far (e.g., Duck Creek Technologies, Consortium for Enterprise Systems Management) haven't revolved around hydrogen.

[Spartan]

True. What ever happened to IBM? Or am I getting that mixed up with ICAR?

[krazeeboi]

That's part of the Consortium endeavor. They are just waiting for Horizon II to be constructed if I remember correctly.

[krazeeboi]

It was mentioned in a previous article that USC could ask one of its private foundations to help with Innovista, and here are some more details about that. In short, the USC Development Foundation might be willing to use its private endowment

[krazeeboi]

The Innovista/Roscoe/Parks fiasco is to the Free Times what the Mark Sanford affair is to The State, even though "Innovistagate" is much less exciting and scandalous. This week, FT documents email correspondence between Roscoe and a BB&T official where Roscoe is attempting to secure a loan. Also, it appears that Kale Roscoe's son rents John Parks's Lexington, KY home for about double what rents normally go for in that particular subdivision, and the address of that home is listed as the official business address for Roscoe Holdings I, LLC.

[waccamatt]

Parks needs to go. NOW.

[Ronak]

Parks needs to go. NOW.

The board is meeting today to decide his fate and Roscoe's buyout:

http://www.thestate.com/breaking/story/933243.html

[krazeeboi]

Parks has handed in his resignation and will leave in 30 days. I pretty much figured there was no way he could stay with everything that had been uncovered.

[krazeeboi]

USC Board of Trustees announced the terms of a proposed buyout package for Kale Roscoe and his partners in Innovista Holdings, LLC: $990,000 in cash and other considerations. USC spokeswoman Margaret Lamb says no taxpayer money would be used in the buyout. USC will pay $890,000, of which $200,000 will be paid at the closing of the agreement and the balance paid in three equal installments between now and June 30, 2010. USC also agrees to

[CorgiMatt]

Two large pieces of earth-moving equipment have just been delivered to the lot at Assembly and Blossom. Maybe USC has decided to quit messing around but hasn't called The State newspaper. After all, they have the resources and don't need bank loans to build Horizon II and Discovery II.

[Ronak]

After all, they have the resources and don't need bank loans to build Horizon II and Discovery II.

Indeed they don't. They apparently will, however, have the money to improve the infrastructure in the area:

http://www.free-times.com/index.php?cat=19...011310092294580

[CorgiMatt]

Indeed they don't. They apparently will, however, have the money to improve the infrastructure in the area:

http://www.free-times.com/index.php?cat=19...011310092294580

Why would they put the equipment on that particluar lot when the TIF would cover all of Innovista?

[Ronak]

Why would they put the equipment on that particluar lot when the TIF would cover all of Innovista?

Oh, sorry, I wasn't saying the equipment is related to the TIF. I was just pointing out that's what they have funding for, since I just saw the article today.

I'm as curious as you are as to if the equipment means progress on Horizon II or Discovery II.

[Ronak]

So I'm still on the USC Engineering Mailing list, and I got this interesting email today:

The Engineering Joint Council and the College have worked with Vehicle Management and Parking Services to open up the Horizon Garage to daily parking. The daily rate is $3, and the rules are simple: arrive no earlier than 6:45 am and leave by 10:00 pm (no overnight parking). You take a ticket, park anywhere in the garage, and pay $3 when you leave. Horizon Garage is a three minute walk from Swearingen and 300 Main.

I would very much like to encourage you to take advantage of this opportunity; indeed, I challenge you! Between now and Thanksgiving, Parking Services will track the number of daily parking tickets in Horizon Garage and compute a weekly average. The College will multiply this average by 10 and make available that amount of additional funding to Engineering Joint Council for allocation to student professional organizations. If the garage fills regularly with daily users, that could mean up to an extra $3,000 to student organizations.

[scguy88]

Two large pieces of earth-moving equipment have just been delivered to the lot at Assembly and Blossom. Maybe USC has decided to quit messing around but hasn't called The State newspaper. After all, they have the resources and don't need bank loans to build Horizon II and Discovery II.

This morning there were three diggers, with one actually in operation at the Horizon II lot. Looks like it's finally being built - for now at least.

Edited October 20, 2009 by scguy88

[BrasilnSC]

I saw bulldozers moving dirt on the Horizon site. Any news? Or are they just messing with us, yet again?