Thursday, May 23, 2024

Upcoming 300-Bed Apartment Complex Transforms Columbia Landscape: A $94 Million Venture into Community Revitalization


Apartments Coming to Vacant Columbia Mall, Bringing 300-Beds, $94 Million Investment

The landscape of Columbia is set to transform with the introduction of a new 300-bed apartment complex, earmarked for the site of the former Sunset Shopping Center. This development represents a significant investment into the area, amounting to $94.5 million, named The Streams at Earlewood. Situated at 301 Sunset Drive, near the historic Earlewood neighborhood, this project is the brainchild of Greenville-based Streams Development, which received Richland County Council’s final nod of approval on February 13.

The nearly 9-acre space that once served as a shopping center and parking lot had been in a state of disuse until Central Baptist Church acquired the property in 2016, with visions of revitalization. With construction slated to commence in early 2025 and completion targeted for the start of 2027, there’s much anticipation around the potential housing solution The Streams at Earlewood promises to bring to the area, although specific pricing details remain forthcoming.

Earlewood, the neighborhood soon to house this development, is already experiencing a renaissance. It’s strategically located just outside the vibrant North Main corridor of Columbia, an area recognized for its unique blend of locally owned shops and eateries. Additionally, the recent opening of Peak Drift Brewery on North Main Street evidences the corridor’s growing appeal, adding a dynamic space that combines cultural and culinary experiences.

This new apartment complex could not come at a more opportune time, as city and county officials underscore the pressing need for more housing. The planned development intersects neatly with Columbia’s burgeoning economic landscape, especially with the news of Scout Motors’ intentions to inaugurate a $2 billion electric vehicle factory in nearby Blythewood. This facility alone is poised to generate approximately 4,000 job opportunities in the Midlands, thereby accentuating the demand for additional living accommodations.

In response to the evolving housing landscape, Columbia Mayor Daniel Rickenmann expressed his enthusiasm: “Columbia needs roughly 16,000 housing units to accommodate our growing population and workforce, so we are thrilled for this transformational investment that will provide high-quality apartments.”

The Streams at Earlewood represents more than just a new housing option for Columbia‚Äôs residents; it is a linchpin in the broader strategy to nurture economic growth, attract and retain a talented workforce, and inject vitality into historically significant neighborhoods. As developments unfold, The Streams at Earlewood is poised to stand as a testament to the community’s resilience, adaptability, and collective vision for a future that honors its past while boldly embracing progress.

Natalie Kimura
Natalie Kimura
Natalie Kimura is a business correspondent known for her in-depth interviews and feature articles. With a background in International Business and a passion for global economic affairs, Natalie has traveled extensively, providing her with a unique perspective on international trade and global market dynamics. She started her career in Tokyo, contributing to various financial journals, and later moved to London to expand her expertise in European markets. Natalie's expertise lies in international trade agreements, foreign investment patterns, and economic policy analysis.

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