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It is an interesting question. Before Lake Murray was built, floods were common along the Congaree River, which is one of the reasons Columbia's riverfront development has been a fairly recent phenomenon. In recent years, most flooding along the Congaree now occurs a little further downstream, which is one of the reasons I-77 is built so much higher than the surrounding land and one of the reasons that flood plain shouldn't be developed, IMO. If the city had been built lower, the skyline probably would look less impressive, but other than that and an earlier problem with flooding, there probably wouldn't have been much of a difference.
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