Columbia high-rise once called ‘obsolete’ set for renovation. What we know
A vacant public housing complex in downtown Columbia is slated for redevelopment four years after safety concerns prompted the city to relocate elderly residents.
The Marion Street High Rise, which was for seniors 62 and older, has been empty since 2021 when residents were relocated over concerns about the building’s aging infrastructure. The Columbia Housing Authority said that it would cost too much to repair the 50-year-old building, including fixing corroding water and sewer pipes.
But now it looks like there might be a new life for the building. After being sold in April, the city of Columbia in August issued construction construction permits for $5 million of work.
The building was purchased by New York-based GoodHomes Communities in April for $5.8 million. The real estate investment company describes itself as focusing on the redevelopment of hotels and senior housing into workforce housing. The permit includes new floor coverings, paint, cabinets and electrical devices as well as “deferred maintenance.”
The Marion Street High Rise was built in 1975. But by 2021, the costs of repairing the building were estimated to be around $16 million. In comparison, replacing it would cost $20 million, according to Housing Authority estimates.
As a result, the building it was considered “obsolete” by the federal Department of Housing and Urban Development and was ineligible to receive funds from the federal agency to complete repairs.
The property was purchased by LMG DT Columbia Inc. for roughly $4.8 million in January 2023. In April of this year, GoodHomes purchased the property for $5.8 million. The New York-based company describes its business model as acquiring and rehabilitating underperforming hotels and facilities that cater to the elderly in areas where there is strong demand for worker housing.
“GoodHomes can acquire and convert these properties at a fraction of the cost of ground-up construction,” the company wrote on its website. “Through adaptive reuse, GoodHomes transforms fatigued properties into flourishing apartment complexes servicing the country’s essential workers and students.”
On their website, GoodHomes’ lists an expected completion date for the apartment complex as the second quarter of 2026. However, there is no additional information provided about the scope of the project. GoodHomes did not immediately respond to a questions from The State.
The firm own 13 properties in nine states, comprising more than 23,000 rental units, according to their website.
The Marion Street High Rise has 146 units.
The apartment building is by far the tallest in that part of downtown Columbia. It is only blocks from Main Street as well as the extensive BullStreet redevelopment on the site of the former State Carolina State Hospital.
The area has seen extensive redevelopment in recent years. In June, the owners of No Name Deli, a Columbia staple, announced that it was relocating from its home at 2402 Marion Street. The move comes amidst plans for a large mixed-use apartment development at the corner of Elmwood and Bull Street.
The development is expected to include 288 residential units and 25,000 square feet of retail space as well as a pool, dog park and other amenities.