Another subdivision has been approved by Greenville County. Stanley Martin Homes will build 171 homes in a new neighborhood called Parker’s Summit adjacent to the CESA Soccer Complex in Greenville along Anderson Ridge Road. Stanley Martin builds beautiful homes and it’s a great location being just 5 minutes to Five Forks and right next to the soccer field. It’s also probably about a half mile or so from one of my favorite spots here in Greenville – the Enoree Transfer Station at 1311 Anderson Ridge Road. (If you know me, you’d know I’m not joking…you can throw just about anything away there at no charge…it’s super convenient!).
Just the other day I was driving down Anderson Ridge and it’s busy and it’s a narrow road. For those who are new to the Upstate, you’ve probably noticed the lack of any kind of shoulder on most South Carolina roads. Anderson Ridge is definitely one of those roads. Traffic can stack up pretty deep there at the light at S. Bennetts Bridge Road at Anderson Ridge.
So far with all the news of a housing market slowdown, we are not seeing a slowdown yet in new developments. Developments are certainly not a leading indicator because of the time and expense to see these through to approval but I suspect once we start seeing withdrawals of new developments, then we’ll know the housing market will likely soon bottom.
Lennar has a new development going in across from the soccer fields. That land has been cleared for a number of months. I haven’t heard when building is starting but it must be soon. That’s a gorgeous piece of land…more on that in a future post.
A running joke on one of the Simpsonville Facebook Group’s that I’m part of is that when new construction starts on a particular parcels, people will jump in and try to guess what’s being built. Most of the time they are looking for new restaurants or a Trader Joes. I just published an article on this exact topic. The most common sarcastic comments tend to be…carwash, Waffle House, and dentists offices. Well I think we could now add a meme around banks being built because there have been a lot of new bank branches that have been built across Greenville County.
On Woodruff Road right now between I-385 and Five Forks, there are 3 brand new bank buildings currently being constructed. Fifth Third has made a big move into Greenville and they have two of the buildings going up. The other building is for First National Bank.
Building these bank buildings is not cheap…but again nothing is cheap today when it comes to commercial, or residential, construction. I suspect part of the differences in these prices might well be the size of the parking lots but also perhaps the site work that needed to be completed to build these buildings. For the Fifth Third buildings, they are both replacing old gas stations that were not exactly pleasing to the eye. It looks like in reading of the tax records and the building permits that each of these buildings are owned by different entities and these banks are leasing the space from them. According to the building permits filed with Greenville County, the Fifth Third Bank building at 1510 Woodruff Road will cost $1,950,000. The Fifth Third Bank building at 2608 Woodruff Road in Five Forks will cost $2,350,000. The First National Bank building at 1217 Woodruff Road will cost $1,500,000.
Here are the other two banks being built along with a list of other banks along Woodruff Road. It’s a popular location for banks I’m sure in part because the traffic counts are typically about 90,000 per day in the area.
Here’s a look at the other banks along Woodruff Road between I-385 and the Five Forks area.
Word on the street is that the local Sportsclub has been purchased by ACAC out of Charlottesville, VA. No word yet as to what plans ACAC has for Sportsclub but many suspect there will be some nice improvements to the equipment and hopefully the facilities. I believe ACAC stands for Atlantic Coast Athletic Club.
I’ve been a member of Sportsclub for three years and it’s a great club! The staff is very friendly as well as the members. The facilities definitely could use some renovations and those of us who spin are crossing our fingers that they plan to buy new bikes!
Sportsclub has facilities in Greenville, Simpsonville and Five Forks.
There’s a brand new retail shell that has been completed just across the street from the Sportsclub at Five Fork. The shell has 10 units and sits on a 2.89 acre site according to county records. The building was recently built by Smith Companies of Greenville Inc. for $3,256,574 according to the records found on Greenville County Building Permits site. The building is listed on those records as 16,660 square feet.
Five Forks continues to boom with new buildings and renovations all around the area. Five Forks often makes lists of one of the most desireable places to live in the U.S. The Greenville Journal has a great article on Five Forks. I would expect this retail strip center to do quite well when you think of the number of people who come in and out of Sportsclub every day but more importantly, the thousands of people who live south of here down Scuffletown Road. There are dozens and dozens of subdivisions bringing traffic through this area every day. This building is just a block or so off of Woodruff Road as well as the Publix at Five Forks Place.
It will be fun to see what goes in to these spaces. The property is being marketed by Bryon Culbertson of Joyner Commercial. Reach out to him for details on leasing opportunities.
The Greenville area continues to post strong homes sales number with October up nearly 12% compared to last October. In October 2019, 1127 units closed compared to 1,097 in 2018. The median sales price is up 5.6% from $206,500 in 2018 to $218,000 in 2019.
Other key data points for the Greenville area housing market are below in the various images. (Data is from the Greater Greenville Association of Realtors). Areas included in the general roll up of the data include: Greenville, Simpsonville, Five Forks, and Mauldin amongst many others.
What is interesting to see is that the overall inventory is starting to grow in the overall area – up 20% compared to a year ago. We’ll dig in further to see specifically if that inventory is growing in Greenville and Simpsonville.
