5 Million to be Invested in Downtown Florence Infrastructure
Downtown Florence continues to grow with a fresh investment.
Downtown continues to grow with more funds allocated to paving streets, landscaping, and more.
Another 5 million dollars will be invested in the revitalization of Downtown Florence aimed at improving infrastructure and landscaping at no cost to taxpayers. The 5 million will go towards repaving roads, utility, new landscaping, and connecting West and East Evans streets.
The funds for the new project came from the second capital sales project and the Tax Increment Finance District. Downtown Development Manager Ray Reich said, "That comes from property taxes from increased value of buildings in downtown. The business downtown who have made the improvements are paying for the improvements through their property taxes."
This adds 5 million to the projected 130 million to be invested into reinvigorating the once dilapidated Downtown area by the end of this year. Recently completed projects include the Emerson apartment building, the parking garage, Francis Marion University’s Luther F. Carter Health Sciences Center, Town Hall restaurant, and the Dispensary.
Projects still to be completed include the Stokes Eye Center, a city basketball center, the Judicial Center, King Jefe Taco Bar, and by 2018 the Hyatt Place Hotel and relocation of the headquarters of Carolinas Bank to the Bo Smith building on the corner of West Evans and Irby.
Downtown continues to explode with growth and shows no sign of slowing. If you are interested in becoming a part of the Downtown Florence success story, contact the Florence commercial real estate experts at Palmetto Commercial located in Downtown. Call us today, and we will work to add your business to the list of the emerging Florence Renaissance.