New $65M housing project planned in Columbia with county tax incentive
More housing could be coming to the northeast Columbia area.
A $65 million market-rate housing project is planned across from the Fort Jackson National Cemetery, near the intersection of Percival and Clemson roads.
Richland County Council gave final approval Tuesday for the project to receive up to a 50% tax credit for 10 years on the condition that a portion of the project be dedicated to workforce housing. That means a portion of the units built must be affordable to people making between 80% and 120% of the area’s median income.
Developer OREI will build the project on 22.5 wooded acres at the end of Newland Road, between Percival Road and Interstate 20. The project will also include new sidewalks, road improvements and water and sewer improvements.
The county’s documents on the project did not include a site plan. It is not clear whether the project is planned to be apartments or another type of housing.
The county also game initial approval Tuesday for a 10-year, 50% tax credit for a $68 million apartment project in Earlewood.
The project appears to be the same one announced at a housing forum in October, which will see the former Sunset Shopping Center on Sunset Drive redeveloped into 300 new apartments, with the inclusion of a 520-space parking garage. Economic development consultant Benjamin Johnson touted the project at the October forum, and said the project could cost up to $93 million because of environmental cleanup needed at the site.
The tax incentives from the county would be in exchange for the parking garage and environmental cleanup. County Council must vote two more times to finalize the tax credits for the Earlewood project.
This story was originally published December 6, 2023 at 12:59 PM.
