Kimpton Hotel Development Seeks Abandoned Mill Tax Credit in Greenville City Council Meeting

Kimpton Hotel Development Seeks Abandoned Mill Tax Credit: Greenville City Council Notes

Greenville, South Carolina – The Greenville City Council reviewed an abandoned textile mill redevelopment project during a work session on Aug. 12. The Vardry Residences by Kimpton Hotels and Restaurants will soon be developed at 100 N. Markley St. in Greenville’s West End. The development located near Fluor Field will feature 26 condos, 133 hotel rooms, and around 9,500 square feet of retail space. Three abandoned textile mills totaling more than 5,000 square feet previously sat on the site. Keene Development Group purchased the property in 2019.

Charitable Tax Incentive

The developer is seeking to certify the property as an abandoned textile mill under the South Carolina Textile Communities Revitalization Act. City council will formally vote on the item on Aug. 26. The act grants income tax credits of 25% of the qualified rehabilitation expenses for the site. Construction of the project is expected to begin in October 2024 and be completed in December 2026.

Property Purchase Authorization

Greenville City Council authorized the purchase of 36 parcels of land in the Haynie-Sirrine neighborhood on Aug. 12. Initial approval was also given to appropriate $10.7 million for the property purchase, with a second reading still required for final approval. The funding sources include $6.56 million from the Capital Projects Fund, $3.8 million from the Parking Enterprise Fund, and $244,790 from the Tree Fund.

Opioid Response Team Funding

Council unanimously approved the initial reading of an ordinance to appropriate $630,541 to support the Opioid Response Team. The team was established in 2023 and operates under the Greenville City Fire Department. The funding was taken from the city’s share of opioid-related litigation settlement money received by South Carolina. The city proposal for a second year of funding was approved by the South Carolina Opioid Recovery Fund Board.

Property Rezoning and Annexation

Initial approval was given by city council to annex and rezone approximately 13.4 acres at 2000 Wade Hampton Blvd. The property is located between the North Main and Wade Hampton neighborhoods. The property was rezoned CM, Campus District, to allow a new GREEN Charter School to be located on the site. Council also approved the first reading of an ordinance to annex approximately 11.57 acres at Roper Mountain Road and Independence Boulevard. The property, owned by the Church of Jesus Christ and Latter-day Saints, will be rezoned CV, Civic District, and RNX-B, Neighborhood Flex B District, for a new religious institution.

The Commons Parking Agreement

Council authorized an amended and restated parking agreement with the owners of The Commons in Unity Park. The agreement provides for three renewal terms of 15 years each and requires the owners to contribute money for paving and resurfacing the parking areas.

Stay tuned for updates on these developments and more from the Greenville City Council.