Fully entitled, multifamily development opportunity

Alys Mill

212 Rice Road, Easley, South Carolina

Register for offering memorandum

Property details

Stats

  • 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

Overview

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.

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

Lease rates for studio and 1-BR units demand significant premium

Property is on the new, 7.5-mile Doodle Trail (Pickens County Greenbelt Trail)

Flyer

Alys Mill_Flyer

Team

Steven Peden

Steven Peden

Principal, Capital Markets | Multifamily
Avison Young - US - NC - Raleigh
+1 919 291 5650
Rob Howell

Rob Howell

Principal, Development & Investment Services
Avison Young - US - SC - Greenville
+1 404 493 3904
Gary Lyons, CCIM SIOR

Gary Lyons, CCIM SIOR

Principal | Capital Markets
Avison Young - US - SC - Greenville
+1 864 535 5142
+1 919 323 0118