[Unity Park (New 160 Acre West End Park)]

On 1/11/2023 at 7:39 AM, gman430 said:

The amount of news stories on the Greenville News website this morning regarding gentrification and trying to throw Unity Park under the bus is beyond stupid.  What sane person would even want to take the time to read them all? What do they want the city to do with Unity Park? Tear it down and move the public works department back there?  Seems really odd to me to be complaining about this park after it’s already built. 

Couldn't agree more!  The Gville News is very one sided and stirs the pot more than reporting the facts.  They frame the narrative around development in a very negative light.  EVERY article seems to be about gentrification and who is displaced.  Not arguing that is a real thing but reporting on both sides of issue would be refreshing.  Also, it should question our politicians more instead of slamming developers and investors.  I am convinced there is a solution to gentrification and affordable housing.  Inclusionary zoning is not the answer.  Incentivizing a desired outcome would be far more powerful.  For example:

1. For gentrification, do something like the county does for agricultural property taxes (and roll back taxes) for areas that are susceptible to gentrification.  HUD even provides an outline of areas that could be targeted.  Freeze the tax base in these areas so property owners can realize the INCREASE in wealth that new development brings to an area without the increase in property taxes.  Should that owner ever decide to sell then then the property taxes that would have been paid on the higher assessed value (because of growth/development) can be paid at closing and can be negotiated between the buyer and seller.   This will stop people from being pushed out because they can't afford the higher property taxes and it'll work for renters too.  If the investor owner keeps a small tax bill that benefit is passed on to the renter.  This has been floated by some council members but they lack the will to push it forward.  
2. For affordable housing - this is a federal thing but we should be yelling at our representatives, change the depreciation schedule for affordable housing.  Instead of 27.5 years for residential make it 15 or even 10 or 5.  Then change the passive loss rules so investors can pour money into affordable hosing projects and realize the tax shelter associated with any losses resulting in depreciation expense.  Sure there will be challenges but i do think this would direct money into a project that otherwise doesn't pencil out.  The world would end up with too much affordable housing because capital will seek a return and deprecation is a powerful tool that helps.
3. Fix the Low Income Housing Tax Credit (LIHTC).  Currently, the folks in Columbia at SC Hosing have this program on hold and it is unbelievable bureaucratic.  There will be nothing until 2024 at the earliest and these credits are allocated by the fed to each state based on population.  The money is there but the state isn't funding any more projects right now.  In fact they are taking that bond allocation (mechanism to provide the credits) and directing it to other things.  Some of the boys in Columbia think it's a freebie for people who don't deserve it and want to sit on it (what i've heard)

Just a few ideas off the top of my head that will fuel the power of capitalism to provide a good to a market that is unbelievable large!

 

 

[BridgeWay Station mixed use development-Mauldin, SC]

maybe.  You never know.  Downtown Greenville has 100+ restaurants and seems to do ok.  same thing only better demographics.  

[BridgeWay Station mixed use development-Mauldin, SC]

The Dining District!  Much needed considering the lack of options in such a fast growing area.  woodruff is just all chains (for the most part) and rather boring.  Fairview Road is the only other exit with some dining options.  Having an option other than downtown Greenville will be nice.  I imagine other retailers will come on board in the future phases but having an dining and entertainment destination is really cool to have in the suburbs.  My wife and i moved from Charlotte and miss that.

[Proposal: Downtown Convention Center]

I read those renderings were presented to Hughes as an idea from the architect...they were not solicited.  i believe a retraction was even in Gville Today

[The West End]

This project, while still very premature, seems like a wonderful fit for downtown.  From an outsiders opinion (Oklahoma is way outside!) the existing convention center works just fine for boat shows, dog shows, gun shows, etc.  and i suspect that wont change - those types of shows don't really need to be downtown.  What needs to be downtown are the ULI meetings, Synnex corps big annual meetings,  hosting Michelin, and similar types of conferences that would benefit greatly from being in the heart of downtown.     In my opinion,  the city consultants that were hired that said downtown didn't need a convention center were absolute right - downtown doesn't need a gazillion sf convention center downtown but it could benefit GREATLY from a smaller more intimate conference center and this wasn't what the consultants expertise.  There will always be huge public discourse whenever public/private partnerships are introduced but in my view projects like this can be game changers for communities like Greenville!  Look at what Riverplace did for the WestEnd and that was a huge public/private partnership.  I truly hope this works out and the conference center and museum end up going along with the hundreds of millions of dollars of mixed use development  that will surely follow.

[Peace Center Remodel]

This is awful!  Such an important piece of Greenville's history will be lost forever.  It has such a wonderful feel the way it is now - and compliments the Reedy River perfectly.  It's also open to the public which is fantastic.  There was huge PUBLIC and private investment that went into remaking the peace center and now it's being taken away so they can book private events.  A great example of what it looks like to screw something up that has helped to make Greenville so great.

[BridgeWay Station mixed use development-Mauldin, SC]

AWESOME LOOKING PROJECT!!!!  Greenville needs a "place" like this.