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Old 04-16-2015, 04:47 PM
 
Location: Greenville, SC
11,689 posts, read 24,642,588 times
Reputation: 3429

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Under construction:
1. District West apartments. 365 units with 489 space parking garage: http://www.greenvillesc.gov/Planning...ieldStreet.pdf
2. SouthRidge mixed use development. 360 apartments with 16,000 square feet of retail/restaurant space and 400 space parking garage: Urban Apartments in Greenville, SC - South Ridge Apartments
3. Main at Stone mixed use development. 292 apartments with 20,739 square feet of retail/restaurant space and 366 space parking garage: http://x.lnimg.com/attachments/BE808...B787AB3DCD.pdf
4. Aloft Hotel at ONE. 144 rooms with 474 space parking garage and 35,000-45,000 square feet of retail/restaurant/office/residential space: Starwood Hotels & Resorts
5. Riverplace phase III with Embassy Suites hotel. 156 rooms, 300 space parking garage, Ruth's Chris, and TBD amount of condos, office, and other retail/restaurant space: Greenville hotels: Embassy Suites Greenville Downtown Riverplace, SC - Opening Autunm 2016. Our hotel in Greenville will be located in the heart of Downtown in the Riverplace block and nestled between the Courtyard, Hampton Inn & Suites, Poinsett hot
6. Link West End apartments. 215 units with two level underground parking garage: Grubb Properties Link Apartments West End Groundbreaking
7. M West townhomes. 18 units: Downtown | West End Greenville, SC | M West Townhomes
8. Home 2 Suites by Hilton Hotel. 117 rooms with two level underground parking garage: Home 2 Suites, Greenville, SC | EMJ Hospitality
9. City Homes at Markley. 14 units: City Homes - Cole Properties
10. Rivers Edge apartments. 140 units with parking garage and the PlayWright Pub: River's Edge - Downtown Greenville, SC Luxury Apartments
12. Claussen Bakery redevelopment. Corporate headquarters for McMillan Padzan Smith with nanobrewery: http://x.lnimg.com/attachments/4E906...9555B2D39C.pdf
13. Greenville Water System corporate headquarters expansion with parking garage: Greenville Water campus to include park


Proposed:
1. Camperdown mixed use development. Approval slated for May 2015. 150,000 square feet of office space, 140 room hotel, 40,300 square feet of retail/restaurant space, 30,000 square foot movie theater, 30,000 square foot fitness center, 241 unit apartment building, and 900 space parking garage. Construction starts July 2015: http://x.lnimg.com/attachments/DFF54...9D5AC9E654.pdf
2. Greenville Gateway apartments. 176 units. Approval slated for April 2015. Construction start date TBD: Charlotte developer scopes out Memorial Auditorium site - Upstate Business Journal

Approved:
1. Erwin Penland downtown corporate headquarters. 125,000 square feet of office space with parking garage. Construction starts late May/early June 2015: Erwin Penland to begin construction on 125,000-square-foot building - Upstate Business Journal
2. Four Fifty Park condos. 53 units. Construction starts sometime in 2015: Four Fifty Park: Home | Greenville, SC
Alta Vista Place condos. 15 units. Construction starts mid-2015: Alta Vista Place – Gracious Living in Greenville, SC » On Historic Cleveland Street in Greenville, SCHome - Alta Vista Place - Gracious Living in Greenville, SC
3. The Lofts of Greenville. 215 units. Construction starts Spring 2015: Lofts project receives conditional board approval - Upstate Business Journal
4. The Crescent. Seven condos with 3,954 of retail/restaurant space. Construction start date TBD: The Crescent | Downtown Greenville SC Condos & Retail
5. Fountains of Greenville apartments. 210 units with parking garage. Construction starts Spring 2015: Luxury Apartments Planned for Church and Broad - Upstate Business Journal
6. 702 South Main. 30 apartments with 4,200 square feet of retail/restaurant space. Construction starts late 2015/early 2016: GSA Business | Greenville, SC | Spartanburg, SC | Anderson, SC
7. 121 Rhett condos. 36 units with 1,500 square feet of retail. Construction starts May 2015. 121 Rhett | A One-of-One Real Estate Opportunity in Downtown Greenville, SC
8. Stadium Flats. 70 condos with parking garage. Construction starts mid-2015: 2014 saw $100 million in new building permits in Greenville (#5 on list)
9. Traverse. 24 condos. Construction starts Summer 2015: 24-unit condo community slated for Markley Street - Upstate Business Journal
10. Markley Row townhomes. Six units. Construction start TBD. Project possibly dead: Developers Announce Markley Row Plans - Upstate Business Journal
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Old 04-17-2015, 05:33 AM
 
1,289 posts, read 2,564,574 times
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While not purely new construction, there's extensive renovations to the 3 story building at Brown/Coffee Streets, as well as the 4 story building at Brown/North Streets. Both will provide new retail tenants and ground level activity.

I think Cancer Survivors' Park is another development worth adding to the proposed/approved list.
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Old 04-17-2015, 07:23 AM
 
145 posts, read 172,907 times
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So, am I the only one who doesn't feel like there is enough people to move into all these new apartments/condos? I mean, that's 2036 units that are going up in the next couple of years. That seems like an insane amount for units that probably won't be cheap enough for the people who want to move into them.
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Old 04-17-2015, 12:12 PM
 
Location: Greenville, SC
894 posts, read 1,130,544 times
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Quote:
Originally Posted by easymacbb View Post
So, am I the only one who doesn't feel like there is enough people to move into all these new apartments/condos? I mean, that's 2036 units that are going up in the next couple of years. That seems like an insane amount for units that probably won't be cheap enough for the people who want to move into them.
You are not the only one. We feel the same way. It is going to be interesting.
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Old 04-17-2015, 12:21 PM
 
5,465 posts, read 8,248,478 times
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The real estate market is pretty good for people wanting to live downtown. The guys building aren't new to real estate and have done their homework.
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Old 04-17-2015, 01:05 PM
 
1,939 posts, read 2,727,884 times
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I am told the real estate market is about as hot as it has ever been. In fact, I am told it is not uncommon for multiple offers to come in on a single property, some higher than the asking price. Unless you are involved in the real estate market, what you "feel" is happening does not matter. What is actually happening matters. For the condo and apartment markets, I agree with redcliffe, the developers and the bankers have done their homework. Nothing is going to be built that does not make sense.
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Old 04-17-2015, 01:14 PM
 
Location: Greenville, SC
894 posts, read 1,130,544 times
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Quote:
Originally Posted by furmanpals View Post
I am told the real estate market is about as hot as it has ever been. In fact, I am told it is not uncommon for multiple offers to come in on a single property, some higher than the asking price. Unless you are involved in the real estate market, what you "feel" is happening does not matter. What is actually happening matters. For the condo and apartment markets, I agree with redcliffe, the developers and the bankers have done their homework. Nothing is going to be built that does not make sense.
I absolutely believe the real estate market is HOT. I am not sure the same can be said for the rental market, but, what do I know.
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Old 04-17-2015, 01:19 PM
 
3,200 posts, read 4,584,723 times
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Quote:
Originally Posted by furmanpals View Post
I am told the real estate market is about as hot as it has ever been. In fact, I am told it is not uncommon for multiple offers to come in on a single property, some higher than the asking price. Unless you are involved in the real estate market, what you "feel" is happening does not matter. What is actually happening matters. For the condo and apartment markets, I agree with redcliffe, the developers and the bankers have done their homework. Nothing is going to be built that does not make sense.
Anyone remember 2008?

Overbuilding is not a foreign concept. One was overbuilt because Certus had larger ambitions than reality. Many folks on here argued at the time that Certus was about to be a big SC bank because the bankers said so. It happens all of the time, developers are not immune to making mistakes and in fact are notorious for overbuilding.

The fundamentals of Greenville suggest that office is definitely overbuilt, rising vacancy rates, slower rental rate growth, very low absorption rates and large blocks of sub leased space.

Fundamentals also suggest that apartment and hotels are getting frothy.

But, developers always feel like their project is special and immune to the market so they build until it crashes, file for bankruptcy and reorganize into a new company to start all over.
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Old 04-17-2015, 01:50 PM
B&R
 
Location: Greenville SC
148 posts, read 314,474 times
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According to Census estimates the population of Greenville County has been increasing about 8,000 per year this decade. Those people need to live somewhere. There are also probably people living in apartments on the outskirts of town who might prefer to live downtown in a new place.

Remember that for the first few years of this decade there was a sharp drop in new construction of housing around the country. Greenville County went from averaging around 4000 new housing units per year to only about 500 a year from 2010-2013. This apartment boom may be just catching up to demand.
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Old 04-17-2015, 09:47 PM
 
5,465 posts, read 8,248,478 times
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Quote:
Originally Posted by lv2trvl View Post
I absolutely believe the real estate market is HOT. I am not sure the same can be said for the rental market, but, what do I know.
The rental market has even higher demand right now.
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