Is there a new building boom budding in the Midlands? (Columbia: apartment, homes)

[Chi2Midlands]

Perhaps it's a sign that the economy has finally turned a corner and green shoots are really holding, but it seems to me that there's a bit of a building boom happening now in the Midlands.

The two big (suburban greenfield) retail/commercial projects I can think of are:

- Killian's Crossing (anchored by the I-77/Killian interchange, with it's good proximity to downtown and convenient 1-hour-or-so drive from Charlotte). Associated development in the corridor includes the new Gold's Gym going up next to the new auto dealerships.

- Corley Mill Road/US-378 development (anchored by the newly released land near I-20 with amazing proximity to downtown).

There also an upscale retail sector blossoming in the Forest Acres/SE Columbia area, centered on Trenholm Plaza and the Whole Foods-anchored Crosshill Market. There are still rumors about Trader Joe's in this area.

We of course know about the DSW Shoe Warehouse, etc. being built across Harbison from Columbiana Centre.

I've noticed a few small developments in the Northeast as well:

- New gas station on Hard Scrabble Road just northeast of Farrow Road.

- New gas station being built at Lee & Hard Scrabble Road, just south of Publix.

- Something being built across from Sandlapper Elementary - northeast corner of Lee/Longreen Parkway and Longtown Roads.

- HomeGoods being built adjacent to Old Navy at the Village of Sandhill.

Feel free to add any other observations of land being cleared and/or new structures being put up.

So is this a legitimate boom? Just a bit of pent-up demand being filled now? Or just random?

[scguy89]

I think that it is just pent-up demand. I live in Greenville now and they are experiencing the same thing. Even Easley (20 miles outside of Greenville) is having a lot of construction now. The lack of many retailers being able to build the last few years and the improving economy is jump starting a lot of delayed construction projects.

[momneedstoknow]

I hope so! I have been taking my serious shopping dollars to Charlotte for the last two years.

[g-man430]

Yep...things are starting to look better and the amount of construction going on does seem to be picking up steam. Banks are finally starting to lend more. Don't forget to take notice with the stock market rising and the unemployment rate dropping lately. The Fed came out with a report yesterday saying that the economy is starting to improve also.

[nin_man]

I work in the home construction business, and just anecdotally, we've been busier this past winter than we were two summers ago, and summer is our busy season. Looks like homes are being built and sold again, too.

[GSP101]

I think there are elements of pent up demand, especially in the retail sector and good organic growth. Columbia has a number of industries that are growing. The pharm plant is a great project that could (and will) lead to other similar projects. While Amazon is not a major manfacturing plant with the associated multiplier, the wages are good and it has a lot of hiring volume. Carolina continues to grow and become more research intensive. With the $1b capital campaign, they are anticipating hiring an additional 200 professors in the next few years.

On the retail side, there are many many stores who want to be in Columbia but, have not found the right project. I anticipate this will change dramatically over the next couple of years.

[vinceisvince]

NE

- Building (closer to Killian rd) next to Rite Aid/Bojangles/ across from Auto Zone. Looks like discount tire but there was a coming soon sign closer to the Sansbury Eye Center for Discount Tire.

- Of course the Aldi by Lowes

[Chi2Midlands]

Originally Posted by vinceisvince

NE

- Building (closer to Killian rd) next to Rite Aid/Bojangles/ across from Auto Zone. Looks like discount tire but there was a coming soon sign closer to the Sansbury Eye Center for Discount Tire.

- Of course the Aldi by Lowes

Yeah, I knew there were one or two parcels I was forgetting - the Rite Aid one was the one I was trying to think of.

[Skyliner]

Originally Posted by scguy89

I think that it is just pent-up demand. I live in Greenville now and they are experiencing the same thing. […] The lack of many retailers being able to build the last few years and the improving economy is jump starting a lot of delayed construction projects.

I believe you are correct about the new retailers (big box, small box, and lots of gas stations), but several other industries are currently building in our area as well. They include banks, manufacturers, schools, hospitals, and even a military base. Perhaps the most interesting sector of growth is seen in the number of significant apartment projects currently underway. Only one of them is considered "affordable," and it has the best of locations in the West End. The main local/regional airport (GSP) will soon begin a major renovation and expansion project, and I see work along I-85 in Greenville County is about to ramp up in a major way, as work on a portion of I-385 in the Golden Strip is nearly finished—finally.

Edited to add: How could I forget notable developments in the local hospitality and entertainment industries?

[GSP101]

Can we keep this thread about Columbia, I think the intent of the OP was to talk about Columbia. If we want to start talking about trends in other metros, I could talk for pages about developments in the closest metro to Columbia, Charlotte.