4 Community Projects That Have Benefitted Real Estate in Greenville, SC

The real estate market in Greenville, SC, has been thriving. With a population of around 67,000 people, the city continues to grow and attract citizens worldwide. This is because many community projects have benefited real estate investors in this area. Here are just four examples.

1. Improved Accessibility

The county approved an updated development plan for downtown Greenville that included adding sidewalks and bike lanes to promote biking transportation within the city limits. This has made downtown Greenville very friendly for pedestrians and attractive to young professionals, an important demographic for real estate investors.

2. Increased Restaurant and Retail Business

The County Council introduced a new zoning ordinance making it easier for restaurants and retail businesses to open along major streets like Augusta Road, River Street, and Main Street. There are now more than 20 restaurants in downtown Greenville within walking distance of each other, attracting young professionals who want to socialize with their friends after work or on the weekends without driving home.

This is also attractive for investors because there will be greater demand for commercial real estate near these businesses when they expand due to increased customers looking for office space close by. Studies have shown that walkable communities are much healthier than those with this feature, so future generations might be interested in living around here.

3. Boosted Housing Developments

Another positive aspect of community projects like this one is that retail spaces can sometimes turn into housing developments over time if they become obsolete due to changing shopping trends and increasing competition. This can be great news for investors who might not have the funds to build a brand-new house but who do have enough money to buy an older home close by, fix it up, and rent out rooms as their tenants move in.

4. Lowered Taxes

Increased tax revenue for city services like police officers and firefighters reduces taxes on citizens living downtown or nearby because there will be less demand for these resources. Lower taxes mean lower insurance premiums, so this could attract young families looking for homes close by with high-quality education systems available since they would pay closer attention to property values when considering where they want their children to grow up.

More young professionals mean increased spending in a local business, which can lead to higher sales tax revenue for the city, reducing taxes on homeowners who are close by and who have school-aged children.

These are just a few examples of how community projects benefit real estate investors in Greenville, SC. Many other examples include:

  • Creating new downtown parking decks

  • Building a public library and a theater

  • Improving streetscapes throughout the city

  • Providing better access to parks around town like Cleveland Park

By improving some of these aspects of the community of Greenville, the real estate market will also improve.

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