Demolition begins at old Wyche building in downtown Greenville for new bank headquarters
Demolition began Monday on the former Wyche law-firm office building at 200 East Camperdown Way, commencing the first stage of development for the new United Community Bank corporate headquarters to be built on the property.
United Community Bank paid Jural Partners LLC $5.75 million last year for the property, a 1.66 acre tract, county land records show.
The law firm has been an anchor tenant and a force in downtown Greenville's development for decades. It has moved a few blocks away to an office building at 200 East Broad Street, occupying the fourth and fifth floors.
Once demolition and site work is complete at the Camperdown Way property, ground is to be broken on the new bank headquarters in late March. Construction is expected to be completed in spring 2024.
United Community Bank is proud to grow its permanent presence in downtown Greenville "in this unique location" near Greenville's signature Falls Park, the company said in a press release.
"The company has a deep respect for this central location near the Reedy River and has partnered with many local stakeholders to ensure that the design embraces both the city history and the important environmental considerations of this location," the press release stated.
More: Quality of life and economy led to new Greenville home of what will be SC's largest bank
United Community Bank's top executive, Lynn Harton, said Greenville's quality of life, bustling economy and the support that local leaders have shown for businesses were key in the bank's decision to build its new corporate headquarters.
United Community Bank currently has corporate offices on West Washington Street in Greenville and in Blairsville, Georgia, which is about 115 miles west of Greenville.
Founded in 1950 in Blairsville, United Community Bank has more than $18 billion in assets, more than 2,400 total employees and 160 branches across the Carolinas, Tennessee and Florida.
After buying the Camperdown Way property, the bank purchased an additional 2.3 acres down the street for $6.3 million, according to county records. That land will be used for employee parking until long-term parking can be addressed in conjunction with surrounding properties, according to bank officials.
In total, the company announced it would invest $30 million in the project that is expected to create 225 jobs.
More: United Community Bank to invest $30 million, create jobs with new Greenville headquarters
The city's design review board approved architectural plans for the bank in September, greenlighting a seven-story, 117,000-square-foot tower with a 154-space parking garage and space for 314 employees.
The tower will be the newest addition to the land overlooking Falls Park, joining the Camperdown development and the nearby Grand Bohemian Hotel, which is currently under construction.
Greenville County Council approved an incentive package for the bank in February. Under terms of the deal, the bank must invest a minimum of $24 million over five years, with the first phase of its project opening in 2023. In return, the county will offer the bank a fee-in-lieu of taxes agreement that includes a 35% discount in payments for a decade.
The city struck its own deal with the company in September, committing to pay for a new plaza, sidewalks and other street improvements near the bank's headquarters — an arrangement that will yield both public benefit and economic development incentive, according to assistant city manager Shannon Lavrin.
More: Greenville pursues development deal for new United Community Bank headquarters
The old Wyche site wasn't the only hub of construction activity Monday. Down the street at the Grand Bohemian Hotel, crews worked to install pavers for the streetscape that will run alongside the project.
⚠️Falls Street, from Webster to Calvin, and the on-ramp to Church Street, will be closed 1/31-2/25.
🚧Crews are installing the pavers for the streetscape at the Grand Bohemian Lodge site.
↪️Detours will be posted. Access to businesses within the closure will be maintained.— City of Greenville (@CityGreenville) January 30, 2022
As a result, Falls Street from Webster Street to Calvin Street and the on-ramp to Church Street will be closed Jan. 31 to Feb. 25, the city of Greenville announced in a message posted on Twitter.
Detours will be posted, and people will still have access to businesses within the closure, the city said.
– Macon Atkinson is the city watchdog reporter for The Greenville News. She's powered by long runs and strong coffee. Follow her on Twitter @maconatkinson.
This article originally appeared on Greenville News: Demolition begins in downtown Greenville for new bank headquarters
