Monday, September 15, 2014

New Trollys on Main St, New Hotel & Luxury Condos, Plus a Greenville Market Update

Downtown Greenville, SC

New Trolleys on Main St.

Our beloved trolleys that service downtown Greenville’s Main Street are getting an upgrade and extended running hours.  The trolleys were originally created to ferry riders to the Greenville Drive baseball games from the upper reaches of Main Street.  But they have become so popular for getting around town in general that the city will offer the service every night from Thursday through Sunday.  The end goal is to offer it every day of the week.  The system has a few new kinks to it.  Riders will catch it at 20 fixed stops and can access a phone app to see where the bus is located in real time.  The return northbound loop will run on parallel roads to Main and on designated weekends, there will be a detour route to serves the Heritage Green area and the Children’s Museum.  The new trolleys will also feature a conductor who will show off the downtown area.  Best of all, they will continue to be FREE.

New Hotel and Luxury Condo Projects Downtown

Two prime spots near the Peace Center are getting close to starting new developments.  The Greenville News which has been a landmark for 50 years, will be torn down and replaced by a major complex that will include a hotel, residential units, as well as office and retail space.  That lot is 3.96 acres and will certainly change the landscape.  Just across Broad Street and directly across from the Westin Poinsett Hotel on East Court Street, there are plans to build a luxury condo six stories tall with mixed use space below.  For those who know the street well, it’s right behind the small plaza next to Bellacinos’s where there is a statue of city founder Vardry McBee.  The lot is pretty small at one-fifth of an acres, so they will be going up to gain space.  This project still need approval of the City’s Design and Review Board. If you are looking for more information on existing downtown condos for sale click here.

9 Roanoke Hills Ct

Quick Residential Market Update

After a huge season in 2013, things have cooled off a bit in 2014 with closed sales only 1.5% above last year so far.  More inventory has hit the market, primarily from new home construction that continues its march forward.  Even with more homes on the market (5% increase), prices have continues to push upward, with the average sales price up 5.2% to $191,000.  Interest rates are still very low which makes the affordability of purchasing a house pretty good, and the 4% increase in GDP through July means we Americans are earning money.  Even though the inventory has increased this year, the average days on market has dropped to 85 days, so indeed, the money is flowing in the residential market with new and updated homes taking the majority of share.  Specific to the area around downtown Greenville, the housing supply is extremely low, so finding a condo can be tough task.  

Current Greenville Weather

Relief from 90+ degree temperatures is here folks! After a mild summer, August heated us up!! This week we are enjoying much cooler temperatures with fall just around the corner. This past weekend was cool and overcast with a few rain showers cooling things down. Today and Tuesday has highs in the 80s with a small chance of pop up thunderstorms. The rest of this week has overnight lows around 60 with highs in the 70s. This weekend will be in the low 80s with some clouds dotting the skies. 

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