City Council approves development agreement for 200-unit downtown apartment complex
Luxury apartment development would be largest in history of downtown Spartanburg
A challenging seven-acre lot behind the Chapman Cultural Center that had been vacant for years is slated to become home to the largest apartment development in downtown Spartanburg's history after City Council unanimously approved a development agreement with Forge Capital Partners, LLC of Tampa, Florida to construct a $30 million complex. Preliminary site plans show a mix of three and four-story buildings in the seven-building luxury complex, with a 300-space parking area centered between.
Bounded by E Daniel Morgan Avenue and Liberty and Silver Hill streets, the development would join existing anchors in the area like the Chapman Cultural Center, Marriott hotel, and the George Dean Johnson Jr. School of Business and Economics, as well as the $29 million Montgomery Building redevelopment and the planned Gibbs mixed-use office development.
While the location is ideal, the site itself poses significant challenges for development. Currently, the site houses a large stormwater detention pond, and the steep grade and poor soil conditions mean that extensive work will need to be done to prepare the parcel for development. To assist in making construction feasible, the incentive package approved by City Council includes conveyance of the city-owned project site at no cost and a Fee-In-Lieu of Tax (FILOT) agreement setting a fee of $25,000 for the development's first year and increasing to not less than $275,000 by the seventh annual fee payment. Council will take up a second and final reading of the development agreement at their next meeting on November 13.
For more from Monday's City Council meeting, see the full video and roundup of our live tweets below.