$65 million housing, retail development coming to Cayce
A major development is planned for Cayce after an Atlanta firm purchased 36 acres of highly visible property on Interstate 77 near the 12th Street Extension.
The company envisions a mixed-use project to include apartments, restaurants, retail, a hotel, office space and an entertainment area. Total development and construction costs are expected to exceed $65 million, according to a news release from The Simpson Organization, Inc.
The site is across Saxe Gotha Road from the former SCANA headquarters in Cayce, now Dominion Energy. It is part of SCANA’s and now Dominion’s 260-acre Otarre Pointe development.
The company “envisions this mixed-use village as a true live, work, and play destination offering entertainment, shopping, and a place to call home,” Boyd Simpson, owner of The Simpson Organization, said in the press release.
Scott Bryant, one of the company’s managing directors, told The State the development would be a “main street” concept featuring a plaza and fountain at the entry area.
The project, yet to be named, should break ground next summer, he said, with the roll-out to continue for “a minimum of five years.” But that timeline would be affected by the coronavirus and other impacts on the real estate, hotel and retail markets, he said.
“We’re not in any hurry and not under any pressure to market the site,” Bryant said. “But we want to move and we want to do it with the right mix.”
The site had once been considered for an outlet mall.
In December, the city halted construction on new apartments and subdivisions for six months while it weighed plans for how to best manage its recent growth spurt. In June, the moratorium was extended for another 45 days.
“12th Street is an important economic corridor and a welcoming point to our city,” Cayce Mayor Elise Partin said in the press release. “This mixed-use village will give our residents and visitors another great place to dine, shop, and be entertained. It already embodies the same traits of excellence that we have intentionally included in the growth of our city. The team has been great to work with, and we look forward to their breaking ground.”
The Simpson Organization is a real estate investment banking firm founded in the late 1980s by Simpson. The company is headquartered in Atlanta, with offices in Orlando, Charlotte, Chattanooga, Roanoke and Hampton Roads.
This story was originally published July 8, 2020 at 10:19 AM.