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The economic impact of the transformation of the Bull Street property

The economic impact of the transformation of the Bull Street property

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Published by The State Newspaper
Economic impact study prepared for the Greater Columbia Chamber of Commerce by Miley & Associates, June 2013.
Economic impact study prepared for the Greater Columbia Chamber of Commerce by Miley & Associates, June 2013.

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Categories:Types, Business/Law
Published by: The State Newspaper on Jun 28, 2013
Copyright:Attribution Non-commercial

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07/10/2013

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The economic impacT
of The
TRanSfoRmaTion
of The
Bull STReeT
 
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June 2013
1
The economic impacT of The TransformaTion of The Bull sTreeT properTy
 Executive Summary ...................................................................Page 2 1.Introduction..............................................................................Page 6 2.Overview of the Bull Street Project.............................................Page 8 3.Economic Impact of the Bull Street Project................................Page 9 4. A Potential Catalyst for Bull Street – Minor League Baseball.....Page 16 5.Summary ..................................................................................Page 18 Endnotes..................................................................................Page 20Miley & Associates.....................................................................Page 21 General Limiting Conditions....................................................Page 22
Table o Contents
 
June 2013
2
The economic impacT of The TransformaTion of The Bull sTreeT properTy
Executive Summary
his report evaluates theeconomic impacts of thedevelopment of the BullStreet property in Columbia,S.C. on the Columbia metropolitaneconomy. This analysis is intendedto provide the Greater ColumbiaChamber of Commerce and localgovernments an estimate of the levelof economic activity and jobs that willresult from the development of theBull Street property. These impactsare estimated to occur within themulti-county Columbia metropolitanarea during the construction of theBull Street property as well as the on-going permanent economic impactsof the residential and commercial andrecreational activity that is antici-pated once the project is completed.
Background
The potential development of theBull Street property has been anongoing topic of interest of the City of Columbia for many years. Theproperty was once home to the SouthCarolina Department of MentalHealth (SCDMH) and is the largestsingle, unused tract of land in theCity. The property covers approxi-mately 180 acresThe potential build-out plan of theproperty has evolved over the lasteight years and in 2010, the owner of the property, the SCDMH, signed acontract for sale to Hughes Develop-ment of Greenville, S.C.
Project Description – TheHughes Development Plan
The most recent master plan for theproposed development of the BullStreet property has been developedfor Hughes Development by Duany Plater-Zyberk & Company (DPZ) andCopper Carry, a nationally recognized
architectural planning rm withofces in Atlanta, G.A., Washington,
D.C. and New York, N.Y.The preliminary Hughes planincludes substantial re-use of many of the historic structures on theproperty along with 3,558 residentialdwelling units, including apartment/condominium units, townhomesand single-family homes of a variety of sizes and levels of affordability.In addition, the plan incorporatesapproximately 1.7 million square
feet of commercial and ofce areas
and a 70-room hotel. The planalso includes churches locations;recreational spaces; hiking and bikingtrails; preserved and open spaces,community facilities; and majoroff-site roadway improvements.
Introduction
The preliminary Hughes plan includes substantial re-use of many of thehistoric structures on the property along with 3,558 residential dwelling units,including apartment/ condominium units, town-homes and single-family homes of a variety of sizesand levels of affordability.

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