Contiguous to Greenville/Spartanburg - Wallace Thomson Hospital Adaptive Reuse - Workforce & USC Student Housing - Bailey Bill & Historic Tax Credits - Cost Under $2M

Investment Overview

Discover the potential of 322 West South Street, Union, SC, a 127,000 SF building steeped in history and ripe for adaptive reutilization. Originally constructed in 1921, this multi-purpose property offers endless possibilities for specialty investors, boasting zoning for exempt, workforce / student housing, special purpose, adaptive reutilization, office, residential, and institutional use. With its exceptional flexibility and prime location in Upstate of South Carolina, this property presents a unique opportunity to create an exceptional space that meets diverse needs. Whether envisioned as a specialized facility or a distinctive residential conversion, this property invites innovative investment in a Tier Four Incentives County adjacent to the explosive growth of Greenville/Spartanburg. This Adaptive Reuse Opportunity is extremely rare for a Hospital Conversion to Workforce, USC Student Housing, Senior Housing Focus. There are 246 parking spaces and the property is adjacent to a new Baseball Field serving University of South Carolina Students. The massive structure itself is over 127,000 SF with a fully running physical plant serving the facility. Offices, Floor Plans delineated, Industrial Level Kitchen & Cafeteria, Conference Rooms, Offices, Areas for Coffee Shops, Study Areas, Retail Spaces Available, the List Goes On located in the Center of Town, near the University of South Carolina Union Campus with a need for Student Housing to locate here. Off-Campus Classroom Space - Massive Workforce Housing Need can be served here with a huge amount of onsite parking. Bailey Bill Tax Credits: https://www.masc.sc/uptown/11-2020/economic-development-tools-bailey-bill The assessed value is typically frozen for 15–20 years, preventing tax increases due to improvements. Based on an acquisition of less than $2M. In addition to that Historic Tax Credits: https://www.masc.sc/uptown/10-2019/economic-development-tools-historic-rehabilitation-credits. Effectively you profit and tax implications are frozen for up to twenty (20) years. Consult a Tax Attorney for finalized advice. For this property open this link: https://acrobat.adobe.com/id/urn:aaid:sc:US:54295e52-277c-4009-9d60-6069c518ec54 as a full Site Description. FULLY CONCEPTUALIZE EVERY ASPECT OF THIS LINK: https://uniondevboard.wpengine.com/ **DO NOT HESITATE TO CONTACT ME TO DO INDUSTRIAL, LAND-DEV, RETAIL, HOUSING DEVELOPMENT HERE TO ADD TO THE CAPACITY FOR THIS PROJECT AND UNION COUNTY AS A WHOLE** Incentives: The City of Union and Union County incentives are designed to lessen tax burden and encourage growth. County incentives are determined on a case-by-case basis, with additional potential tax incentives for projects that address community gaps. Incentives from City of Union: Capacity Fee (100%) – One time Building Permit Fee (50%) – One time Hospitality Fee (50%) – Annually (up to 5 years) Building License Fee (50%) – Annually (up to 5 years) Accommodation Taxes (50%) – Annually (up to 5 years) Incentives from Union County: Infrastructure Upgrade – Grants and Loans Property Tax Incentives Special Discretionary Incentives

Investment Highlights

• * Hospital Adaptive Reutilization for Workforce Housing - University of South Carolina Union Students | Nursing and Others $600+ per head per month estimated or more.
• * Bailey Bill Tax Credits: https://www.masc.sc/uptown/11-2020/economic-development-tools-bailey-bill The assessed value is typically frozen for 15–20 years, preventing tax increases due to improvements.
• * In addition to that Historic Tax Credits: https://www.masc.sc/uptown/10-2019/economic-development-tools-historic-rehabilitation-credits. Effectively you profit and tax implications are frozen for up to twenty (20) years. Consult a Tax Attorney for finalized advice.
• * Massive Industrial Development in Tier 4 Incentives County Adjacent to Greenville/Spartanburg Maxed Out Area. See: https://uniondevboard.wpengine.com/ and get in contact with me regarding other development plans that I can facilitate with the County.
• * SEE: https://acrobat.adobe.com/id/urn:aaid:sc:us:54295e52-277c-4009-9d60-6069c518ec54