Bull Street Project to Have $1.2 Billion Economic Impact

Editor's note: This story, published June 27, 2013, has been updated to include location of second public hearing.

An economic impact analysis of the proposed Bull Street neighborhood helped shed some light on what a Greenville developer has planned for the 181-acre campus of the former State Hospital.

The analysis, released Thursday by the Greater Columbia Chamber of Commerce, found the new development would have a $1.2 billion impact on the local economy — directly and indirectly — generate $581 million in labor income and more than 11,000 new jobs when completed.

The development is estimated to generate almost $20 million in local property taxes per year for the city, Richland County and Richland School District 1, the analysis shows.

The chamber hired economist Harry Miley of Miley & Associates to conduct the analysis of the preliminary plan from Bob Hughes of Hughes Development Corp.

The report's release follows the formal announcement of the development agreement between the city and Hughes to construct a neighborhood of mix  housing, retail and office spaces, and possibly a baseball stadium over 20 years.

Miley's analysis showed Hughes' plan included:

• "Substantial" redevelopment of many of the historic buildings on site
• A 70-room hotel (70,000 square feet)
• 3,558 residential dwelling units (apartments, condos, town homes and single-family)
• Commercial and office spaces (1.7 million square feet)
• Hiking/biking trails
• Medical office (300,000 square feet)
• Babcock Building (200,000 square feet)
• Community facilities

The analysis suggests Columbia is "ripe for minor league baseball" and that the construction of a baseball stadium would "further enhance and speed up" the development's impact on the city.

The new project will be constructed over four phases, with the city committing to funding $31.25 million for infrastructure improvements.

Of the initial $31.25 million investment, $15.4 million will be used for phases one through three. The remainder, $15.8 million, will be invested into phase four.

City Council will vote on the agreement within the first two weeks in July. The community will have an opportunity to speak on the project during two public hearings before council takes a vote. 

The first hearing is scheduled for 2 p.m. Monday, July 1, at the Eau Claire Print Building, 3907 Ensor Avenue. The second will be held at 2 p.m. Tuesday, July 9, at the Earlewood Community Center, 1113 Parkside Drive.

Councilman Moe Baddourah on Thursday has proposed council reschedule the public hearings for a later date due to the July 4 holiday in order to allow for more people to attend the sessions.

"Public hearings serve an important purpose, and that purpose is undermined when such hearings are held in a manner that inhibits maximum citizen participation," Baddourah said. 

"Any Bull Street development must be done with the maximum level of buy-in from the public. Citizens must feel as if they're voices are being heard, especially on an issue of this magnitude."

To view the full analysis, visit the chamber's website, http://www.columbiachamber.com/. For the full draft agreement, highlights and a FAQ, click here.

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