Spartanburg City Council voted unanimously at their meeting on Monday to approve a development agreement with Palmetto Operating Company, LLC for the redevelopment of the former Coca-Cola distribution center at 500 W Main St., which has been vacant since 2017. In a memo to Council, City Manager Chris Story said the project will “activate and restore a significant property along the W. Main corridor.”
Plans call for converting the former distribution facility into mixed use and ultimately will total over 75,000 sq. ft. of space, with a blend of apartment units, office space, retail storefronts and an event space. The development is expected to be completed in two phases, with the first phase tackling the renovation of the existing distribution facility. The developer expects to keep the current historic façade intact.
Under terms of the development agreement for the $18 million investment, the City agreed to a fee in lieu of property tax arrangement that will generate around $60,000 in local government revenue initially and will gradually increase to $132,000 at the 20-year mark. City Council previously approved a rezoning to facilitate the redevelopment project early this year.
Also at Monday’s meeting, City Council heard an overview from Public Works Director Jay Squires about the upcoming W Main Street improvement project, slated to begin construction next year. Under the plan, two new protected bike lanes would be created along with a new pedestrian trail along a section of W Main St. between St. John St. and the CSX railroad track downtown. Vehicle traffic lanes will be reduced and some new on-street parking will also be created as part of the plan. Construction is expected to begin in early 2024.
For more from Monday's Spartanburg City Council meeting, see the full video at this link.