2024

[apaladin]

Well, another year has come and gone. Will 2024 be an exciting year for proposed projects are just more delays? I assume there may be some start of construction at County Square but with the talk of infrastructure etc taking months and months maybe not. Any chance the Gateway site starts? I know nevermind, that was a silly question, How about the Beach project? Company with a good reputation but again, delayed. Kimpton Hotel? Man, how long has it been since it was announced? 5 years? Again, delay after delay? Any others that have a chance to get off the ground? TIA

[gman430]

Yeah, it’s a struggle right now. Nothing getting off the ground currently and nothing major has been announced within the past year either it seems like. The only good news I can give you is the Federal Reserve announced this week that they are done raising interest rates and will drop them at least three times during the 2024 calendar year. Of course this is all subject to change depending on what happens with inflation.  

I see some projects still getting built even if they are delayed like the Beach Company one but then there are others I never see happening like the Avant. It just varies from project to project depending on when they were announced and who the developer is. 

[GVLer]

I agree the Avant seems unlikely. It would be nice to see a new concept and developer take that site. 

[motonenterprises]

It'll be okay either way.

[distortedlogic]

I think we'll be fine, there is a lot going on already around town, plus all the county developments. I would expect the Gateway and College St projects to start sometime next year, as well as, The Delano, ongoing County Sq projects, and some other smaller projects including Honor Tower. Some of the other ones like The City Hall development, Convention Center are probably still just in conceptual/ feasibility stages and still a ways off. Still a lot going on around here; don't really want it to grow too fast. 

[gman430]

I see everything minus the Grace Church and Avant projects downtown still getting built. You have Main & Markley, Prospect Hill, Canvas high rise, Gateway site, Kimpton, 319 Rhett, County Square, Greenville Summit addition, Delano, etc. Lots of stuff to come.

I do find it interesting how the largest project by far in downtown’s history (County Square) is moving forward full steam ahead with tenants signing on left and right while all of these other projects that are much smaller in size and scale are going through delays. It would be a cool case study to see why that is. Is it because the Georgetown Company is a much larger commercial real estate company than these others with better financial backing? Is it due to the county and city support? Maybe something else or a mixture of things? 

You could literally take all of the delayed projects downtown, combine them, and County Square would still be larger in terms of square footage and monetary value which is another interesting and cool stat. 

Edited December 15, 2023 by gman430

[goodbye]

Greetings everyone.

Looking at the raw population growth data (very strong, even explosive), Greenville (UA, MSA, & CSA) will certainly continue to see exciting new development announcements, and the region will face increasing growth pains.  Leaders in all sectors need to be prepared and aware that the area is growing and will continue to change -- for better and/or worse.

Regarding the higher cost of construction, hopefully this article proves true:

“But I think we’re approaching a tipping point where cost increases will plateau,” Jacobs says. “Supply chain issues have largely been worked out and GCs and subcontractors are looking for work which will affect estimating in a positive direction going forward.”

 

Source

Edited December 26, 2023 by Skyliner