More than $1 billion in investments underway in Columbia since the beginning of 2020
Columbia has “boomed in spite of the pandemic,” according to a report from the city.
This boom in city development included more than $1 billion in active investments for multifamily residential, office, retail and industrial developments since January 2020.
“This growth brings jobs, opportunities and resources, and furthers our ideal of Columbia serving as the state’s prime destination for residents, visitors, and businesses,” said Mayor Steve Benjamin.
The biggest investments in the city include more than $548 million in mixed-use projects that have been announced or are underway, including the development of The Lady apartments in the former Keenan Building, The Palms at Lady, The Nine Columbia and Cambria Hotel. Just these four projects total $89 million in capital investments, according to a city news release.
The city had a 35% increase in building permit requests in the last year. Applications for development projects in Columbia total $471.4 million in investments compared to $348 million this time last year.
More than 1,700 industrial jobs were announced in the city since the beginning of 2020, with a BlueCross BlueShield expansion and Marc Anthony Brewing projects accounting more the majority of the new jobs.
BlueCross BlueShield will create around 700 jobs with $60 million in investment in their city and Richland County facilities. The Mark Anthony Brewing project will create 300 new jobs and $400 million in investment when the Richland County facility opens in July 2021. The company will be one of the largest water/sewer utility customers for Columbia Water, said city officials.
One of Columbia’s largest projects, the BullStreet District, made progress in 2020 by opening a Starbucks and an REI Outdoors. Plans for the WestLawn office building are moving forward, and construction is expected to start today on the 79,000-square-foot space. Developers anticipate the building will be complete during the first half of 2022. Robinson Gray Stepp & Laffitte law firm is the first tenant announced for the offices.
After a fire destroyed much of the central part of the historic Babcock Building at BullStreet in September 2020, developers will move forward with renovations. The first phase of the apartment building will open during the first quarter of 2022. The Babcock Building represents $55 million in capital investment that will create 208 apartments when completed.
“We will transition from being a resilient Columbia, to being a resurgent Columbia,” said Economic Development Director Ryan Coleman.
This story was originally published March 25, 2021 at 1:27 PM.
