A prime Vista property that most recently served as a low-activity parking and maintenance hub for state vehicles is now owned by South State Bank, which this week demolished the 1940s-era building, possibly making way for new development.
South State purchased the property, a little over an acre at 1028 Huger St. and 516 Senate St., for $1.5 million earlier this year after it was put up for bidding last fall by the S.C. State Budget and Control Board.
“We have no immediate plans for the site, but do not plan to sell it,” South State Bank President John Windley said in a statement.
The bank has a branch on the adjoining block, along Gervais and Pulaski streets.
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The property, situated in a blossoming Vista corridor, is across Huger from the old Grice’s Market to the west and, to the east, abuts the S.C. Telco Federal Credit Union along Pulaski Street.
Two new apartment developments recently have sprung up along Pulaski Street near the property, with development also underway on the nearby Palmetto Compress building and two student apartment projects on the southern edge of the Vista. Additionally, one block north along Huger and Gervais streets, the $100 million Kline City Center development is planned.
The state received four bids for the site, including one from South Carolina-based developer Naman Hotels, which later backed out of its bid, according to the Budget and Control Board. Naman Hotel brands include Holiday Inn Express and Suites, Staybridge Suites, Wingate by Wyndham, Hampton Inn, Hyatt Place, Hilton Garden Inn and Fairfield Inn.