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Executive Summary
Encompassing approximately 181 acres in downtown Columbia, this mixed-use urban redevelopment opportunity represents one of the most significant in-fill land parcels to become available in South Carolina in many decades.
For more than a century this site has served as the central campus for the South Carolina Department of Mental Health. With the shift in services to local area mental health centers, a major centralized campus is no longer needed for patient care.
Property features include:
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Within a few short blocks of the City’s two main downtown access freeways.An exceptional location with numerous major employers, community facilities, and economic generators within less than two miles.
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Palmetto Richland, Providence and Palmetto Baptist hospital complexes that collectively employ over 11,000 people.
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The University of South Carolina main campus with over 27,000 students and 4,500 faculty and staff.
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The State Capitol complex and nearby agencies and departments employing over 10,000 people.
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All of Columbia’s major entertainment venues including Koger Center, Colonial Center, Columbia Museum of Art, State Museum, Edventure Children’s Museum and the Riverbanks Zoological Park and Gardens.
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Columbia’s Central Business District.
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“The Vista “ , Columbia’s downtown district of specialty shops, restaurants, art galleries, and entertainment.
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The Three Rivers Greenway of riverwalks, bike trails and parks adjoining the Saluda, Broad and Congaree rivers.
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Innovista- USC’s academic and private partner research park initiative.
Entitlements
The Duany Plan was prepared following significant local input and has been endorsed, in concept, by the Columbia City Council. The property has not, however, been rezoned from its current use and all elements of the entitlement process will be the responsibility of the purchaser.
As a reference point, the Duany Plan envisioned:
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An office block to accommodate buildings totaling approximately 500,000 square feet plus 19 lots for small, single-occupant, office buildings.
- Approximately 60,000 square feet of retail area.
Historic Status and Improvements
There are over 40 structures on the campus ranging in size from 500 square feet to over 200,000 square feet with the oldest constructed in the 1850s.
Three structures are currently covered by historic designations.
- The four-story Central portion of the Babcock Building, approximately 20,000 square feet (National Register and City Ordinance).
- The entire Babcock Building of approximately 200,000 square feet is subject to a maintenance and repair covenant with the South Carolina Department of Archives and History through June of 2013.
- The South Gate – a wrought iron and brick gate fronting on Calhoun Street (City Ordinance).
- The remaining sections of the original perimeter brick wall (City Ordinance).
The Mills Building, situated on the southwest corner of the property, is also on the National Register of Historic Places but is not a part of this offering.
Greater Columbia Market Overview
The seven county greater Columbia area is home to more than 750,000 residents with an annual growth rate of approximately 1.6%. The Columbia market has demonstrated steady expansion for decades with an economy that has consistently performed above regional and national measures for job growth and employment rates.
This consistent pattern of economic expansion and stability have been attributed to its employment base of state government (23,000 employees) five major hospitals (16,000 employees), and seven colleges and universities (approximately 45,000 students and 9,000 employees). Columbia is also home to the Fort Jackson Army Base, whose role as both a basic training facility and for advanced training schools has continued to solidify and expand over the past decade.
Personal income measures rank the Columbia area in the upper quartile of metropolitan areas in the Carolinas and Georgia.
Due Diligence and Environmental Information
Consult the property website for the most currently available information.
Co-Brokerage
Co-Broker participation is invited through a registration process outlined on the property website. Buyer broker compensation must be obtained from the buyer broker’s client.
Offering
The property is available for tours on an appointment basis only.
It is the intent of the Department to proceed with negotiating a contract with the party submitting an offer deemed in the overall best interest of the Department, assuming the price component meets an acceptable level. |
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