$23 million Townhome Project Coming to Spartanburg’s Florida Avenue
95 New Townhomes and Possible Restaurant in the Pipeline
Spartanburg City Council recently voted to authorize a major developmental project encompassing 95 townhomes alongside a potential restaurant along the North Church Street corridor. The agreement, reached with VanRock Holdings, LLC, is set to bring significant change to a previously underdeveloped area of the city at an estimated total cost of $23 million.
The Village Grove Townhomes Project
The project, officially named Village Grove Townhomes, will be established at 1017 Florida Ave., nestled between Florida Avenue, Dakota Street, and North Church Street, close to the hospital. The project promises not just residential spaces, but also includes plans for 2,000 square feet of commercial space, likely to be procured by a restaurant.
The townhome units themselves will be approximately 1,150 square feet each, featuring three bedrooms and two bathrooms. In a move towards ensuring affordable housing, at least 10% of the units will be classified as workforce housing, with income restrictions for tenants earning at or below 80% of the median area income.
Integration with City Development Plans
As part of the development agreement, VanRock Holdings has committed to working towards the city’s trail development efforts in the area. The City Manager, Chris Story, expressed that they anticipate the project will be a vital connector between the Northside, Cleveland Park, and trails in the University of South Carolina Upstate region.
City Councilwoman Erica Brown, representative of the area, echoed this sentiment, sharing in her excitement for the project’s potential impact on the region and potential to spur future development.
Financial Implications and Timeline
The property is currently valued at approximately $10,000 per year in taxes, owed to the existence of one unoccupied house on an otherwise vacant lot. Under the agreed upon 10-year Fee in Lieu of Tax agreement with the city, the developers will pay $250,000 in taxes in the first year, culminating in $600,000 in the tenth and final year. City Manager Chris Story reassured the council that any changes to the existing agreement are anticipated to be minor and unlikely to significantly impact any key aspects of the current plan.
The much anticipated Village Grove Townhomes project is expected to break ground in 2025, with pre-construction activities likely to begin as early as next year.
