Columbia Economic Notes

[Sparkle City]

Has anyone heard a recent update on the status of the Holmes Smith office/parking deck project on the old Kline Steel site at Gervais and Huger?

There are a lot of rumors floating around and I just wondered which ones to believe. Also, who are the tenants and what size is the project?

[lastweek]

I don't know much as far as a current update, but I was stuck in traffic last night at Huger and Gervais because they were tearing down the remainder of the shell of the old Kline building and they had closed off part of the road.

So, something's happening...

[Sparkle City]

Kline had indicated that the remnants of the building were left there to keep out trespassers, so I am assuming that the demolition indicates that he is proceeding with his development plans. I had previously heard through a local brokerage company that the main tenant was wavering in their decision, so I was wondering if the tenant was back on board. There was also speculation about creative differences, but I later heard that those were worked out.

[The_sandlapper]

Monterrey Restaraunt to open in the Vista. This is a pretty good place for those who haven't indulged.

Monterrey Mexican

[The_sandlapper]

More stores on the way for the village at sandhill including JC Penny and the completion of a 16 plex movie theatre. I'm curious to see if Sandhill will suck up all the retail from that side of town? I think Richland Mall once the research campus is complete and the mall itself is rennovated will see alot of activity from central Columbia.

Sandhill

Edited May 20, 2005 by The_sandlapper

[colajnp]

Capitol Places announced a new main street condo project. Looks pretty awesome.

www.capitolpalces.com

This and that other condo project at www.1556main.com by somebody else might help jump start Main Street to a whole new level.

[colajnp]

oopss

spelled capitol places wrong for website

it is www.capitolplaces.com

[krazeeboi]

I believe the Main Street residential project mentioned earlier is the one that is the subject of an article in today's The State. I can't believe that any brand-new residential projects haven't been built on Main since the 1800's, according to the article.

Well, add another $7 million in developments for Columbia.

Edited May 22, 2005 by krazeeboi

[The_sandlapper]

I saw that article today and related article on how the DT market was heating up, some places are now worth up to 25% more.

As I have stated time and time again Cola is on the verge of something big, I just hope they take advantage of the opportunity!

It's good to see Main St. development continue. Main St. in Cola is usually the place of bussiness not retail or residential life, at least while I was growing up there anyway. The city in those days had that come to work in the day and flee to the burbs by 6PM philosophy. But it's good to see the city using its strengths.

There will be a nice continuation of development in the near future DT, starting with Bull St., Main St., Vista (including USC stadium, & hotel), Canalside, Research Campus, and even quasi DT 5points redevelopment.

[waccamatt]

There haven't been any "new" residential buildings on Main Street because it has traditionally been only a commercial street. Many shopkeepers lived above their stores in earlier days, but it wasn't until the renovations of the last few years that there has been an effort to have people live on Main Street. Of course, downtown is alot more than just Main Street.

[krazeeboi]

Speaking of Main Street, The State has an article in today's edition about how ongoing streetscaping is starting to negatively affect local businesses. This is inevitable, but I believe one issue raised was how the completion date has been pushed back. However, the construction of the First Citizens tower has also contributed to the delay. But hey, that's the price that is sometimes necessary for progress and long-range success.

[waccamatt]

I agree with you, Krazee. A year of lost business versus a lifetime of improvement...it's a no-brainer.

[krazeeboi]

Exactly. Coble had it right when he said,

[Charleston native]

My question is: why not accomplish these streetscape projects at night when it will minimally affect businesses? It makes more sense to do projects like this at night when there is hardly any traffic, any business, and any people.

I wish the state and its cities realized that if you want to create a long, lasting beautiful streetscape without hurting businesses and traffic buildups, you need to do the majority of your construction in the evening.

[lastweek]

Well, at least they are doing it block by block instead of closing it all down at once. I think that the fact that they have to close of the street is enough to hurt these businesses regardless of when the people do the work.

I'm glad to see all the residential stuff moving down on Main St., and it certainly beats what was there before (not much). However, I hope it doesn't become *too* residential and shut out the retailers and offices from eventually coming back. Overall, things are looking up down there.

[Spartan]

Well, at least they are doing it block by block instead of closing it all down at once.  I think that the fact that they have to close of the street is enough to hurt these businesses regardless of when the people do the work.

I'm glad to see all the residential stuff moving down on Main St., and it certainly beats what was there before (not much).  However, I hope it doesn't become *too* residential and shut out the retailers and offices from eventually coming back.  Overall, things are looking up down there.

<{POST_SNAPBACK}>

I agree. Most people see construciton and aviod it like the plague.

I doubt that Main St will become too residential if anything, the residential aspect will help the smaller retailers and help the area grow.

[JT Boy]

I agree. Most people see construciton and aviod it like the plague.

I doubt that Main St will become too residential if anything, the residential aspect will help the smaller retailers and help the area grow.

<{POST_SNAPBACK}>

I'm sure this construction is tough for these small businesses right now, but there are brighter days ahead. When DC was completing the Green Line of its subway system, there was one area of town that literally looked like a war zone for several years. Now that area is one of the hottest residential and retail areas in the entire city. I do think Columbia should be offering loans, etc... to make sure that the small guys can hang on during this downturn though. Maybe the city could buy some advertising space for the businesses...

[vicupstate]

Editorial on Columbia Town & Gown relations

Excellent editorial. I hope the city & county councils read it.

[krazeeboi]

Yes, I just read it myself. It actually reflects the concern of a friend of mine in Columbia, who obtained his masters at USC, that USC is attempting to dominate downtown Columbia.

And I had absolutely NO IDEA that the Panthers wanted to play their first full season in Columbia! I'm not sure how they would have worked that out (and of course USC vehemently opposed) , but think of the national press Columbia could have gotten over that!

Edited May 27, 2005 by krazeeboi

[Spartan]

I never did understand that. Columbia is better suited for NFL traffic than Clemson. Overniters and interstates and general capacity. USC realyl dropped the ball on that one.

[waccamatt]

Now that Mike (stubborn as hell) McGee is retiring maybe the University won't be so reluctant to work with the city.

[TruantSpeakEZ]

when is First Citizens supposed to be finished?

[waccamatt]

when is First Citizens supposed to be finished?

<{POST_SNAPBACK}>

They have just topped off the framework so my best guess would be late winter/early spring 2006. I do wish they had made a smaller footprint and it was taller.

[krazeeboi]

Seems like we could possibly see the first residential project in conjunction with the research campus soon, according to this article in The State. Everything is in the preliminary stages though, nothing solid as of yet. Seems as though most of those who currently own property on the desired tracts are willing to negotiate though.

[waccamatt]

My gut tells me that will be a residential highrise there. That land is expensive and, with the Holiday Inn in that block, the footprint would be small. Let's dream. How about a 35 story highrise apartment tower with retail completely filling the bottom level...