SPARTANBURG, SC (WSPA) – Spartanburg City Council has approved a development agreement for a $10 million renovation to a building at the intersection of East Main Street and Liberty Street to include new retail and apartments in downtown.
The agreement calls for Blue Wall REII, LLC to undertake extensive renovations which would create 46 apartments and 4 new retail shops.
The building is located at 174 E. Main Street and once housed the Aug W. Smith Department Store and later the Bishop Furniture Store. City staff considered the underutilized building a high priority for adaptive reuse due to its size and location at an important street corner near Denny’s Plaza.
Apartments at the new development are expected to cost between $1,100 and $1,800 based on market rates.
The development agreement was approved by a vote of 5-1. The city would provide benefits from a Special Assessment for Rehabilitated Historic Property for five years and would make at least 60 monthly parking passes available for tenants. Parking duration limits would also be lowered from two hours to 30 minutes on adjacent on-street parking spaces.
City council also unanimously approved a development agreement to renovate a building at 318 Wofford Street. The city will provide a $20,000 grant to help offset costs for property which would become home to a real estate company’s offices.
Council also approved the purchase of a new fire truck at the meeting Monday evening.