I'll type up the whole story for you, erm:
CREDIT TO GREENVILLE JOURNAL-
**Camperdown still on the table. Developer has new loan for downtown project**
Gordon Seay admits not even he is sure what is happening with the proposed Camperdown luxury condominiums, but interest is high on this downtown development. The project near the Academy Street bridge has been subject to a lot of anticipation, as well as a number of delays in the last three years.
Seay represents the Marchant Co., which was acting as the sales agent for the proposed 14-story development. The company felt the development was not going to happen, but has heard from the developers, Southcorp., that they still want to build the project, he said. "I'm not really sure what will happen," Seay said. "I thought it was over." Southcorp officials could not be reached for comment.
The property in question is located near the intersection of River and Broad streets and next to the Academy Street bridge, and has been vacant for several years. A local businessman proposed an eight-story building on the site in 2003 that would have included 30 units. That plan stalled and Southcorp Development & Investments LLC of Stone Mountain, Ga., came into the picture.
That group expaned the project to a 14-story building with 81 residences, private parking and a rooftop pool, according to its web site. The company states it has sold reservations for half of the units. Seay said the number of pre-sells has dropped because of the project's inertia, but said interest remains high because the project is unique to downtown.
The property went on the market when RiverPlace was still in the planning stages, and projects such as Poinsett Corners had not yet been built. It was felt that the Academy site would be a strong complement to those nearby projects. Seay said problems first arose after Hurricane Katrina. Several Southcorp interests were damaged on the Gulf Coast, so the company delayed work on the Camperdown.
A second problem arose when the developers granted an easement to the city for a proposed walking/running trail next to the proposed tower. The trail's path was eventually changed, which forced Southcorp to redesign the building on the property's footprint. The loan to build the project expired during the redesign phase, Seay said. "It's just had some unusual things happen," he said. The company has since told him that a new loan has been approved, Seay said.
According to early releases on the Camperdown, condominiums would range in size from 900 square feet to 2,500 square feet, and in price from $175,000 to $600,000. Six penthouses will be two stories high, and the entire building will have about 97,000 square feet.
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GO CLEMSON TIGERS!!!!
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