The Greenville City Council approved an ordinance appropriating $10.77 million from the city’s Parking Fund to support property acquisition and related project expenses for the proposed Downtown Greenville Conference Center Project.
The Downtown Greenville Conference Center Project, also known as the Falls Park Conference District, is envisioned as a mixed-use destination that includes a city-owned conference center, parking structure, public park, supporting infrastructure, and complementary private development. The city has already executed agreements to acquire properties needed for the project area and is continuing due diligence and pre-development work.
In addition to property acquisition costs, the funding will support professional services, environmental and architectural work, legal services, project analyses, and other activities necessary to move the project forward. State funding previously appropriated for the project will continue to be a significant funding source alongside the Parking Fund investment.
According to a feasibility study and economic impact analysis updated by VisitGreenvilleSC, the conference center is projected to generate approximately $37.1 million in direct annual spending, $62.9 million in total annual economic output, and $49.9 million in net new economic activity once the facility reaches stabilized operations.
The ordinance takes effect upon final approval by City Council at its Oct. 26 formal meeting.
Comments
No comments on this item Please log in to comment by clicking here