Aiken, SC.; November 4, 2021 – The Aiken Municipal Development Commission (AMDC), announced today its intent to acquire significant property in the heart of the City of Aiken downtown district. The seven parcels are bounded by Laurens St. SW, Richland Avenue, and Newberry Street.
A vote to move ahead with the Commission’s downtown redevelopment plan is scheduled for Tuesday, November 9, according to an agenda for the 2 pm meeting released today. “The Commission, which has been developing the plan for more than a year, is expected to approve the purchase,” said Keith Wood, Chairman of the AMDC.
The AMDC believes control is needed over this critical portion of downtown suffering from disuse and deterioration. Acquisition of this property is a gigantic first step and precedent to the redevelopment of a significant portion of downtown. The AMDC plans to spur revitalization of downtown Aiken with private investment in an area that has been ignored and even avoided for many years by private investors. Redevelopment will address the health and safety concerns attendant to abandoned buildings and significantly add to the City’s tax rolls. The redevelopment of property acquired by the AMDC and the anticipated follow-on private sector investment should significantly enhance the downtown district.
The proposed redevelopment of this property (formerly named Project Pascalis) consists of the following components (1) hotel with full amenities, (2) multi-family housing units; (3) a conference center integrated into or adjacent to the hotel, and capacity for meetings with ability to host regional conferences; and (4) structured parking garage. The AMDC is in negotiations with several private developers and investors for plans for this redevelopment.
Recently, AMDC recommended that the City Council issue bonds totaling $9,600,000 to provide funds to defray the costs of acquiring and improving real estate in the downtown area of the City and site preparation and infrastructure in connection. City Council has approved the issuance of bonds for this amount and plans are to use these funds to acquire this property.
“The AMDC believes that through the acquisition of this important real estate, the City will catalyze the redevelopment and revitalization of downtown Aiken. This is a generational opportunity and we feel the redevelopment of this property will transform our Downtown District into something that will continue to set us apart from other communities and will drive economic development for decades to come for our City. I believe this redevelopment when completed will be something of which all Aiken residents will be proud and lays the groundwork to transform the most significant block in the heart of our community. All of Aiken will benefit from this action,” said Chairman Keith Wood.
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ABOUT AMDC
The City of Aiken’s Municipal Development Commission is responsible for advising Aiken City Council of exiting blighted and/or conservation areas in whole or in part within the city limits of Aiken. The Commission also makes recommendations to the City Council on the redevelopment of the blighted and/or conservation areas in the interest of the public health, safety, morals, or welfare of the City of Aiken residents.