Verdae Development Inc. and Hollingsworth Funds have announced a bold new outlook for approximately 90-acres of Laurens Road property as Greenville’s next generation destination. The refreshed vision aims to create a vibrant and inclusive mixed-use district that reflects Greenville’s cultural and social diversity while acting as a platform for economic innovation with commercial office, residential, recreation and retail in a new urban setting.
While many details of the exact plan will be available as phases of the project are envisioned and announced by development partners, some of the vision’s core elements promote accessibility, sustainability, connectivity, and affordability:
- A new central street running parallel between the Prisma Health Swamp Rabbit Trail and Laurens Road
- A new green ribbon of parks and open space
- Improved connectivity for private/public transit as well as pedestrian and bike friendly trails and pathways
- The conversion from a one-use retail corridor to a mixed-use district that provides opportunities for :
- Evolving the retail landscape to meet current trends
- Introducing new areas for public recreation
- Driving economic development for office, small business, and entrepreneurship
- Incorporating a variety of housing options
“What we’ve presented is a long-term vision for an area of focus within Verdae that intentionally provides flexibility to adjust to the market, growth trajectories, and most importantly, to the great ideas from community partners like yourselves to help bring it to life,” said Gage Weekes, president and CEO of Hollingsworth Funds.
Almost two years in the making, this vision is a dynamic step forward for the Laurens Road area between I-85 and Haywood Road—and for greater Greenville. Beyer Blinder Belle Architects & Planners, HR&A Advisors, and other professionals have been working with Verdae Development and Hollingsworth Funds in a collaborative planning process that is grounded in real estate analysis and market data.
This strategic review began with an in-depth study of the entire 1100-acre master plan property, but led to a concentration on a portion of the footprint that has been performing as big box retail centers since the 1980’s.
“We’ve learned a great deal,” said Debbie Wallace, president and COO of Verdae Development. “First and foremost, we have more land than can be absorbed by the market within a 15-year planning horizon. We can be more successful by reducing the development target area and cultivating greater community impact.”
Market realities that surfaced and influenced the creation of the new Vision included:
- Verdae is physically and economically between the downtown core and suburban market for products like office, residential, and retail/amenities.
- Greenville’s growing customer base has genuine purchasing power and seeks alternatives to typical suburban office and residential products.
- Demand for residential (at a mix of price points), office (delivering a highly-amenitized experience), retail (sized and located strategically), and open space (adding character and sense of place)—will drive value.
- Public-private partnership funding will be necessary to fund required regional amenities.
“Greenville has a rich history of public-private partnerships, and Hollingsworth has certainly been a valued private partner with the City,” said Mayor Knox White. “The preliminary vision for Verdae is something we have wanted to see for some time along the main corridors in Greenville. This helps create new nodes of excitement and activity.”
Weekes said the next several months will be important as Hollingsworth and Verdae continue to gather input from community stakeholders to help refine the plan, find the best development partners and work on the infrastructure portions of the plan.”
“It creates a livable community for the future that builds on a legacy of exceptional planning and re-imagines a place where accessibility, connectivity, affordability, and innovation intersect,” Weekes said. “We are excited to meet the challenge of creating financial value and seek people to work collaboratively with us to help realize this vision.”