New Apartments, Plus 1100 new jobs
The Spartanburg County Planning Commission recently met and approved a 17 acre site for apartments on Highway 9 Boiling Springs across from Manny's Restaurant (if you haven't tried their wings- go NOW!). The ordinance requires buffering for the adjoining residential parcels. The complex will host a dog park, pool, pickleball court, and expansive green space.
Many locals are concerned about the traffic issues which are already pressing during rush hour for Highway 9. If you look closely, the Hwy 9 access is for entry and right turn only, left turning entry will be prohibited which should cause little to no issues with his direct access point. Additional access via Costner Rd. will be available and comes out beside M Fresh and CocoBowlz.
Another apartment complex in the Inman area was also approved, proposed for Springfield Road. This new development will be located behind the Sitel Group, near First North Baptist, with a nearby Ingles supermarket, minutes from I-85 and I-26 and USC Upstate college.
The MOST exciting economic development project approved is a 319 acre industrial park, Spartan Enterprise Park, located off Chesnee Hwy 221, across from Webb Drive. It is being developed by Northpoint Development based in Kansas City. It represents a $298 million capital investment with 3 million square feet of warehouse space. It will provide 1,147 permanent jobs.
Despite inflation and rising interest rates, we still have an influx of people relocating to our area, strengthening our local economy and continuing to attract others to our "little-big town". Continued developments like these should give you a sense of security in your own investments in this area.
Residential appreciation in these areas is still 15%+ year over year (remember a stable market creates at least a 4% appreciation rate year over year), so while things may seem bleak according to the media, on the local level we are still seeing incredible growth and economic strength.
Curious about your homes value? Contact me directly and let's talk numbers: 864-510-9548
OR take a look at your area available homes here: UpstatePropertyFinder.com
Felicia A. Page, Realtor® 2015 - 2022, eXp Realty, Rupesh Patel Home Selling Team