A rendering of a new mix-used housing and retail development set to come to the corner of Bull Street and Elmwood Avenue. Courtesy of Astral Development.
Kailey Cota
Feb 10, 2023
More than 200 apartments are set to be built near the corner of Elmwood Avenue and Bull Street in the what the city hopes will become the latest push to retain and recruit young professionals to Columbia.
Though the mixed-use complex will be available for all age of renters, developers envision it will complement the city’s growing student housing market and accommodate young professionals who want to be close to nearby neighborhoods.
The project, which will include retail space, will sit between the up-and-coming BullStreet District, Main Street and the Cottontown neighborhood, an area that’s seen numerous recent changes, including many geared toward young professionals.
BullStreet is an ongoing effort to convert the former state Mental Health Hospital property into a community of homes, recreational options and retail. It’s been called the city’s largest redevelopment project ever.
Columbia Mayor Daniel Rickenmann said students and recent college graduates have made it “loud and clear” that more young professional housing options are needed in the center of the city. The city is finally seeing developers make moves, he said.
“This will help BullStreet grow in the future and create new opportunities for restaurants and entertainment,” Rickenmann said. “The fact that developers are wanting to come here tells us that our market is growing and that people are wanting to choose Columbia as a home and as a place that they can start or join a business.”
This project is an example of that.
New York-based Astral Development bought six properties near the intersection in a $2.125 million deal that closed on Feb. 1.
The project, situated between No Name Deli and the Sunoco gas station on Elmwood Avenue, is estimated to cost at least $50 million. Plans call for construction to begin in late 2024 or early 2025. No estimated completion date has been announced.
Plans for the property include at least 200 multi-family apartments or condominiums that include studios, one-bedroom, and two-bedroom units. They will be available to anyone, but more heavily marketed to young professionals. The company expects rent to be attainable, or mid-tier, but does not yet have a projected price range because the market is unpredictable.
The project is projected to have 30,000 square feet of retail space on the ground floor. Developers hope this will include a grocery store, a national gym operator and a food and beverage option. The project will also have at least two floors of parking, one for residents and one for retail shoppers.
“The trend in economic development is if you can be an attractive place where young, smart people want to live, companies will find you,” said Jeff Ruble, Richland County’s economic development director.
Columbia is still “a little bit under the radar,” which is attractive, Andy Golubitsky, founder of Astral Development, said.
The region’s “stabilizing factors,” which include government offices, universities, health care facilities, Fort Jackson and the BullStreet District, make Astral Development confident in the project’s success, Golubitsky said. “Certain types of retail tenants and certain types of a place’s physical features attract younger people. It’s already happening — we’re just amplifying what’s there,” Golubitsky said.
“We definitely want to help retain some of the college-educated students coming out of these universities and help them find a place to live.”
In the meantime, Astral Development plans to clean up the site and host community events this spring.
“To activate the area and engage the community through art, food and beverage and hopefully even a concert series,” Golubitsky said. “So we can draw people in from different parts of the city and help them see this neighborhood in a different light.”
The development will join more housing and retail projects that are already taking life in the nearby BullStreet District.
Construction has started on the Bennet at BullStreet apartments, and some residents have moved into the historic Babcock Building, which is undergoing a $55 million project to turn it into more than 200 apartments.
The Iron Hill Brewery and Restaurant along Bull Street is also under construction.
An $80 million housing development that includes an art walk and plaza is moving ahead in the BullStreet District near Segra Park close to the recently opened Publico restaurant.
“This area can be really exciting and transformative,” Golubitsky said. “To create that nightlife component, create some excitement so that people actually want to stay in Columbia. That’s the goal here.”
What’s more, improvements are underway at the highly-trafficked Elmwood Avenue-Bull Street intersection.
About 40,000 cars travel through the intersection each day, making it one of the busiest traffic spots in the county, according to a 2021 South Carolina Department of Transportation report.
Richland County broke ground Dec. 8 on a project at the intersection that is expected to reduce driver wait times by 60%.
The project includes constructing an additional lane on the south side of Elmwood Avenue that will run from Marion Street to Bull Street and provide eight lanes of traffic, as well as a raised concrete median, according to a county press release.
Bull Street will also be reconfigured to add a northbound lane and to take away the current southbound dedicated right-turn lane onto Calhoun Street. Pedestrian crossings will also be improved, according to the county.
“The improvements to this intersection are going to be crucial as the (BullStreet) District continues to grow,” Richland County Councilman Paul Livingston of District 4 said in a news release. “With more businesses and visitors coming to this area, these changes will ensure continued access for both drivers and pedestrians.”