News Summary
Columbia is on track for a major transformation as Core Spaces proposes two high-rise towers on Main Street. The ambitious $225 million project includes a 27-story apartment building with 700 market-rate units and a 22-story student housing tower expected to accommodate over 2,300 residents. This development signifies an important shift in urban planning, aiming to meet the growing demand for housing in the downtown area. City officials are supportive, highlighting the need for market-rate housing alongside student accommodations, with plans for retail space and improved infrastructure.
Columbia is poised for a significant transformation as Core Spaces, a Chicago-based developer, has proposed a major apartment development on Main Street, which will consist of two high-rise towers. The project is set to feature a 27-story market-rate apartment building housing 700 units and a 22-story section dedicated to student housing, potentially accommodating over 2,300 residents in the downtown area.
The estimated cost of this ambitious project is $225 million. Columbia’s Board of Zoning Appeals has recently granted Core Spaces an exception to the city’s cap of 150 beds per acre for student housing, allowing the new development to achieve around 916 beds per acre. The planned apartments will occupy a 2.6-acre surface parking lot that was previously owned by Wells Fargo, located between existing office buildings at 1401 Main Street and the Wells Fargo Building at 1441 Main Street.
Enhancing the urban infrastructure, the project includes the construction of an 11-level parking garage that will provide more than 1,500 parking spaces. This facility will reserve spaces for residents and office workers, while also allowing public access during nights and weekends. Importantly, the development will adhere to city regulations that limit apartments to a maximum of four bedrooms per unit, amidst ongoing discussions about off-campus dormitories in the downtown region.
Support for the initiative is strong among city officials. The city’s Board of Zoning Appeals chair highlighted the need for market-rate housing in conjunction with student accommodations. The towers, with the market-rate apartment building reaching 270 feet, are expected to redefine Columbia’s skyline, standing as the tallest structures in the city for a generation. The development’s design will also incorporate retail space along Main Street, alongside a pedestrian-friendly area that aims to activate the street while respecting existing public art.
In addressing potential traffic concerns raised by the project, Core Spaces plans to streamline access to the parking garage with a single entry point. This change will reduce the current five access points from the existing parking lot, minimizing anticipated traffic disruption. The developer is optimistic about the project’s impact on traffic flow in the area.
As it stands, the proposal is in the early stages of development, with the next steps involving approvals from the city’s Design and Development Review Commission and the Planning Commission. Should these approvals be granted, the project promises to contribute significantly to the housing landscape in Columbia, reflecting the area’s growth and the rising demand for residential options.
This development signifies a shift in the use of commercial land, with residential spaces increasingly becoming a priority in urban planning, particularly in areas experiencing population growth. The construction of these high-rise apartments is part of a broader trend in cities across the country, where the need for affordable and accessible housing continues to challenge local governments and developers alike.
Deeper Dive: News & Info About This Topic
HERE Resources
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Columbia City Council Lifts Height Restrictions for Innovista District
Additional Resources
- Post and Courier: Main Street Apartment Development
- Wikipedia: Columbia, South Carolina
- The State: Local News Article
- Google Search: Apartment Development Columbia SC
- ABC 17 News: Fire at Central Columbia Apartment Building
- Google Scholar: Columbia South Carolina Housing Development
- The State: Local Article on Housing
- Encyclopedia Britannica: Urban Development
- Post and Courier: Student Housing Apartment Tower
- Google News: Columbia SC Student Housing
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