A Joint Venture between URS Capital Partners, a NY based private real estate investment firm, and Catalyst Capital Partners, a Charlotte based development firm, has closed on the acquisition of nearly 7.5 acres encompassing an entire city block in downtown Rock Hill, SC.
The partners will be breaking ground in the coming weeks on a $45 million mixed-use development project called The Exchange at Rock Hill (rendering top).
The site consists of three separate parcels with the largest piece being sold by the City of Rock Hill through an RFP process that began over 18 months ago. The other two parcels were acquired from private owners to complete the assemblage.
The Exchange at Rock Hill will consist of 229 apartments with a pool and outdoor lounge, roof deck, fitness center, and co-working space along with over 26,000 s/f of adaptive reuse retail and commercial space.
The location sits on the hard corner of Dave Lyle Boulevard and E. White Street with close proximity to Knowledge Park in downtown Rock Hill.
“URS Capital is looking forward to being a part of Rock Hill’s long-term growth plan with this project,” said Chris Urso, managing partner of URS Capital Partners.
“Our firm has been actively investing in the Southeast for over a decade. Between the current momentum taking shape in Rock Hill and Opportunity Zone Benefits associated with the project, we felt The Exchange at Rock Hill would be a great long-term investment for our firm.”
Beau McIntosh, managing partner of Catalyst Capital Partners, added, “We look forward to delivering this green-certified, Opportunity Zone development, and contributing to the growth and excitement of Rock Hill.”
Concorde Construction is the general contractor for the apartments, and Wharton Smith is the contractor for the adaptive re-use components. Project architects include BB+M and 505 Design, and Land Design is the civil engineer for the entire site.
Pinnacle Bank provided acquisition and construction financing for the entire project.