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Plans announced for modern residential living near historic Columbia districts

 

             $94.5 million investment lays groundwork for planned 300-bed apartment complex

COLUMBIA, S.C. (February 13, 2024) - Streams Development and Century Development Partners have announced plans to construct a 300-unit market-rate apartment complex in Columbia, South Carolina. The $94.5 million development plan was approved during a third reading Tuesday night by the Richland County Council as part of the Commercial Development Program it operates in collaboration with the City of Columbia. The City approved the plan at a prior meeting on January 23, 2024. The investment will also create a total of 10 new full- and part-time jobs, as well as hundreds of construction jobs.

 

The Streams at Earlewood is planned for 301 Sunset Drive just outside of the historic Earlewood community and will boast a mix of one-, two-, and three-bedroom apartments, as well as ample parking in a 520-space parking garage and 42 surface lot spaces, subject to planning departments design approvals. Alex Dmyterko, Chief Executive Officer at Streams Development, said numerous factors contributed to the selection of the site, such as proximity to the North Main development corridor, the ability to construct a large-scale property so close to city center, and the opportunity to increase the availability of housing and neighborhood choices in the area.

 

“There hasn’t been a modern development of this type in years,” Dmyterko explained. “We are excited about the transformative impact that this development can bring to the community, as we work towards final investment decisions.”

 

Developers also plan to incorporate modern lifestyle amenities into the complex, such as a swimming pool, dog park and EV charging stations. The 8.46-acre site was purchased by the Central Baptist Church of Columbia and originally used as a shopping center in the 1960s.

 

“The support our teams have received has been vital in fulfilling the long-standing vision of Central Baptist Church and SVN Blackstream to revitalize the River Drive Corridor. We are grateful for the collaboration and assistance from the City of Columbia and Richland County,” Brent Chitwood, SVN Blackstream Managing Director commented.

 

Commitments to provide modern, accessible residential options is a focus for both Richland County and the City of Columbia.

 

“Richland County welcomes the construction of The Streams at Earlewood,” said Richland County Council Chairwoman Jesica Mackey. “The multimillion-dollar development project brings new growth to historic downtown with the creation of new jobs and living amenities. It also underscores Council’s continued commitment to economic development.”

 

“Columbia needs roughly 16,000 housing units to accommodate our growing population and workforce, so we are thrilled for this transformational investment that will provide high quality apartments in Columbia’s accessible North Main Corridor, just one mile from the River Park North entrance,” said City of Columbia Mayor Daniel Rickenmann.

 

Upon determination of final investment decisions, construction on the complex is scheduled to begin in the first quarter of 2025 with completion slated for the first quarter of 2027.

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About Streams Development/Century Development Partners:

Streams is a Greenville-based development firm specializing in the construction of apartment, retail and storage properties. Century is a joint venture of principals in Streams Development and BlackStream Partners.

 

About the Commercial Development Program:

The Commercial Development Program is a partnership by the Richland County Economic Development Office(RCEDO) and City of Columbia’s Economic Development Office aimed at boosting commercial development opportunities in the Columbia, S.C., region through property tax assistance. The program provides up to a 50% tax abatement for a maximum of 10 years for qualified, approved projects.

 

About the Richland County Economic Development Office:

The Richland County Economic Development Office (RCEDO) works to expand, diversify and sustain the local economy by assisting companies that provide meaningful job opportunities and generate new wealth for its citizens. Founded in 2011, the RCEDO seeks to attract new industry to the community, assist existing companies with potential expansions, and ensure buildings and industrial sites are available for prospects to consider. Connect with RCEDO on LinkedIn, Facebook, X and Instagram.

 

About the City of Columbia Economic Development Office:

As the leading economic development agency for the City of Columbia, the office focuses on recruitment of new business, retention and expansion of existing industry, and support of job growth through entrepreneurship and innovation. Columbia, South Carolina is one of the fastest growing cities in the Southeast and an ideal place for commercial development. With a world class workforce, high quality of life, low cost corporate environment, and extensive transportation infrastructure, Columbia is positioned to assist businesses in gaining a competitive edge in the global marketplace. For more information about the Office of Economic Development, click here.

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