Fully entitled, multifamily development opportunity
Alys Mill
212 Rice Road, Easley, South Carolina
Building
Property Summary
- Property Type Multifamily
- Year built 1928 (former textile mill)
- Building size (sf) 291,580
- Size (acres) 18.3
- Zoning Opportunity Zone
- Planned units 200 - Studio, 1 and 2 BR
Property Description
This rare mill redevelopment project represents an extraordinary opportunity for a multifamily developer seeking a high visibility project in a tight submarket. Qualifies for multiple tax credits and is also situated in an Opportunity Zone. To view OM and DD documents, register here.
Location description:
Located in Easley, SC, a small town in the Greenville/Spartanburg MSA. Once a depot for a railroad line, Easley now draws families with its quaint downtown, recreational trails, and proximity to Blue Ridge Mountain hiking trails and waterfalls.
Property Highlights
Project is “shovel ready” (building plans complete/waiting on construction permits)
Limited supply of new multifamily in the current development pipeline
Bailey Bill tax abatement projected yield upwards of $4.65M in savings (over 15 yrs)
Property approved for Historic & Textile Mill Rehabilitation tax credits (approx. 40% rebate on construction costs)
Consistent submarket rental rate growth in recent years
Property is on the new, 7.5-mile Doodle Trail (Pickens County Greenbelt Trail)
Team
Steven Peden
Principal, Capital Markets | Multifamily
Avison Young - US - NC - Raleigh
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