Prime West Columbia site near river could get retail, residences

A builder known for apartments and condominiums is seeking to develop a prime West Columbia site that overlooks the riverfront and has unique views of downtown Columbia.

The 4-acre parcel at State and Meeting streets would include a mix of stores, offices and residences if Estate Properties can finalize a deal with leaders of the Lexington County city.

“We’ve had a lot of companies come to the table with great plans, and then they fell through. This is the best chance we’ve had,” Council Chairman B.J. Unthank said.

The high-profile site is just across the Gervais Street bridge from EdVenture and the State Museum in downtown Columbia.

City leaders, who bought and cleared the site eight years ago, backed away from plans to give initial approval Tuesday to selling the city-owned tract to the company. Incentives and other details continue to be negotiated, officials said.

The project taking shape will offer views for its occupants across the Congaree River into downtown Columbia, said Matt Mundy, an executive with the firm headed by his father, Robert.

“That is one of the main amenities,” Matt Mundy said.

But the slope of the site from State Street down to Alexander Road just before the riverfront and walkway that is part of the Three Rivers Greenway also makes designing a project there challenging, he added.

That slope also has earned the site the nickname of “The Pit.”

“We’re nearly done getting our plans together,” Mundy said. “It’ll be a pretty amazing concept.”

Local projects undertaken by Mundy’s company include transformation of the Whitney Hotel in Columbia’s Shandon neighborhood into apartments and the 42 Magnolia apartment complex in Forest Acres.

Its website says the company has developed 23 apartment and condominium complexes across the Southeast.

The firm also has done office parks and retail projects, Mundy said.

West Columbia officials want a signature project on the site overlooking the river.

The city spent $3 million to acquire eight parcels to create a project that city leaders hope with become a local centerpiece.

The goal is to spur more redevelopment along their share of the riverfront, mirroring what happened across the bridge in the Vista in Columbia.

Still undetermined is how much public parking will be included for those headed to recreation on the river.

The tract is an unofficial parking lot for concerts at Riverwalk Park and those wading, floating and fishing in the river.

City officials are discussing a plan that would earmark property tax gains in the area for 15 years to pay for parking and possibly other improvements.

Two other small condominium complexes are on the river near the site that his firm is seeking to acquire.

Some city leaders are optimistic that an eight-year-old dream to redevelop the site is set to happen after several false starts.

“We’re at a higher level at this stage,” Unthank said of nearing an agreement.

But other city leaders say some aspects of the company’s proposal remain unsettled.

“We need some questions answered yet,” Mayor Joe Owens said, declining to be specific.

This story was originally published April 7, 2015 at 10:14 PM with the headline "Prime West Columbia site near river could get retail, residences."