Plans for downtown Spartanburg apartments pass first reading - FOX Carolina 21

Spartanburg City Council unanimously passed the first reading of a development agreement with a Tampa, Florida company for a 200 unit downtown apartment complex.  The city says this is the first major new apartment construction in downtown in at least forty years and largest in city's history. 

The $30 million project will be on city-owned land behind the Spartanburg Marriott and Barnet Park. The 7-acre site is surrounded by East Daniel Morgan Avenue, Liberty Street and Silver Hill Street. The Project will include numerous three or four-story buildings and on-site parking for approximately 300 vehicles. 

This is the first time Forge Capital Partners LLC has invested in Spartanburg.

The city is giving several incentives to help secure the project. Those include the 7-acre site owned by the city at no cost and a Fee In Lieu of tax agreement. The initial fee payment will be $25,000 and increase to not less than $275,000 by the seventh annual fee payment. 

No architectural details have been submitted at all and the project would go through normal design review process. 

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