Rock Hill Council OKs plan that could build apartments, commercial space downtown
Rock Hill is one step closer to building hundreds of apartments and a downtown parking deck on the former long-time site of The Herald’s newsroom.
The City Council on Monday approved a financing plan for improvements to the 7.35-acre site between Main Street, White Street and Dave Lyle Boulevard. It designated the area as a municipal improvement district, which it hopes can attract more development and boost property value.
Property owners in the improvement district will pay a special assessment fee to help pay for infrastructure improvements in the area. Total assessments could reach up to $17.05 million, according to city estimates.
Taxes from future development within the district will help foot part of the bill for public improvements, too, and the city could issue bonds or explore other financing methods if there are additional costs.
The improvement district is expected to feature mixed-use developments, including a 300-unit apartment complex with workforce housing. That means rent for some units would be less than market rate so workers such as police officers, firefighters and teachers could afford them.
The district’s plans also includes 15,000 square feet of commercial buildings along West White Street, outdoor amenity spaces, a roadway, sidewalks and other infrastructure improvements, according to the unanimously passed ordinance.
At the center of Rock Hill’s improvement plan is a new publicly owned parking garage with approximately 566 spaces.
Real estate investment firm White Point owns the property and consented to the special assessments.
The Herald moved out of a large building in what is now the improvement district in 2019, leaving the property vacant and setting into motion a years-long effort to redevelop the land.
Initial plans for an upscale senior living facility got delayed, then scrapped. White Point stepped in three years ago as the new developer on the project and negotiated a series of amendments to a sale agreement with the city. The two parties finalized a deal in November.
