EXCLUSIVE: Student apartments could be coming near Five Points

A student housing developer could invest tens of millions of dollars near Five Points, assuming the city will change its zoning laws to allow private student dorms in a general commercial zoning district.

Columbia Mayor Steve Benjamin is requesting the change be made to allow private dorms in the C-3 general commercial zoning district, which currently allows retail, office and service establishments, as well as multifamily residences, primarily along major traffic corridors outside of central downtown business districts.

Atlanta-based Peak Campus Development plans to develop on a piece of land at the northwest corner of Gervais and Harden streets, across Gervais from the Five Points Cook-Out and a corner gas station, according to Benjamin. He estimates the development will be worth $50 million. He did not say how tall the apartments might be.

Efforts by The State newspaper to reach the developer were not successful Friday. And it wasn’t immediately clear if the site includes the adjacent 3-acre lot at 2001 Gervais St. that has been home to the city’s Greyhound bus station for 30 years. The Greyhound corporate offices in February said the lease is expiring and the depot was looking for a new site.

Peak Campus develops and manages student housing properties across the country, with more than five dozen projects to its name in 24 states, including one at Coastal Carolina University and five in North Carolina.

Benjamin said he has met with the developers once and considers them reputable.

“Part of our overall strategy for revitalizing our urban core has been to inextricably link the growth and dynamism of the university with downtown Columbia,” Benjamin said. “I believe that we’re playing catch-up with the pent-up demand for student housing that has been here for years because of our tax structure.”

Private dorms are currently permitted in central area commercial (C-4) and central business (C-5) zoning districts, which primarily encompass centralized, heavily commercial areas downtown such as the Vista. They are also allowed in high-density residential, light industrial and mixed-use zoning districts.

If the zoning ordinance amendment is approved, private dorms would still be subject to development conditions that include a maximum of 150 bedrooms per acre and no more than 60 percent of their units designed for occupancy by more than three unrelated adults.

Areas zoned for the C-3 general commercial development in or near downtown include a stretch along Gervais east of the State House; the Devine Street corridor east of Five Points; the State Fairgrounds, Williams-Brice Stadium and Gamecock Park area; some stretches along Rosewood Drive; and some pockets along Main and Sumter streets near the USC campus.

Krista Hampton, the city’s director of planning and development services, said she doesn’t expect the proposed zoning ordinance change to have “a significant impact on the placement of these developments,” as the general commercial districts tend not to be within short walking distance of USC’s campus.

“I think, largely, developers now want to be closer to campus, which means more of our central business district,” she said. “The students seem not to be as interested in driving, so being able to walk or bike is very important.”

The Planning Commission will make its recommendation Monday on whether the city should approve or reject the amendment. Either way, the amendment will be considered at City Council’s public zoning hearing Nov. 18 before a scheduled final reading and decision by council in December.

This story was originally published October 4, 2014 at 8:42 PM with the headline "EXCLUSIVE: Student apartments could be coming near Five Points."