COLUMBIA, S.C. — Anyone who looks at the recently approved state budget will notice that the City of Columbia received $2.5 million for a new parking garage in Five Points, plus another $2.5 million for additional Five Points projects.
In 2021 News19 reported that a resolution had been adopted by the city supporting the redevelopment of the old Wells Fargo building at the corner of Saluda Ave and Blossom Street.
That project would transform the property into a hotel, office space and a parking garage.
The developer listed for the project was 'We Love 5 points LLC'.
At the time, the city estimated that just the parking garage portion of the project would cost a projected $14 million.
Columbia Mayor Daniel Rickenmann said although the project is still in the very early planning stages, the city is doing what they can to encourage all parties involved to move forward.
"Right now, it’s conceptual. There (are) several hoteliers looking at it. There are some office tenants. There are some retail tenants. It just hasn’t developed yet. One of the key pieces to that (project) was understanding the parking and by trying to get some funding to help offset some of those costs in today’s environment. The cost of financing today and the cost of construction have made projects tougher to do and so (we're) looking to see how we could participate in trying to help offset that,” Rickenmann said.
The mayor said that by diversifying the types of businesses that are operating in Five Points, there will be more visitors to the area, and they’ll stay longer, providing a boost to local businesses.
But not everyone is comfortable with the idea of more concrete structures in the neighborhood.
Cooper Roberts is a junior at the University of South Carolina and said he visits Five Points often. He said he likes the feeling the area provides.
"It’s very homey feeling. It’s not too (much like) city life. You’re kind of away from the whole city itself. It’s a lot more away from fast food, Starbucks, stuff like that. A lot more locally owned businesses which I really like,” Roberts explained.
Cooper said he’s open to some growth, depending on what it is.
"Office space, I wouldn’t really mind, but when it comes to a hotel, a parking garage, you know we do have a lot of that already in downtown near Vista, So I’m not really partial to it,” Cooper explained.
Mayor Rickenmann said while he is grateful for the $2.5 million the state has allocated for the parking garage project; his office is still trying to determine what other projects qualify for the other $2.5 million dollars from the state.