CAYCE, S.C.--(BUSINESS WIRE)--Atlanta-based The Simpson Organization, Inc. announced today it has purchased 36 acres of Dominion Energy’s 260-acre Otarre Pointe, a prime development corridor in Lexington County at the intersection of I-77 South and 12th Street Extension, in Cayce, SC. Plans for the 36-acre mixed-use project are to include apartments, restaurants, retail, a hotel, office space, and an entertainment area. Total development and construction costs are expected to exceed $65 million.
“We envision this mixed-use village as a true live, work, and play destination offering entertainment, shopping, and a place to call home,” said Boyd Simpson, owner of The Simpson Organization. “Some of the planned amenities include a gracious plaza and fountain at the entry area and a multi-family residential and lifestyle storage component. Our phasing strategy is to allow the village to grow over time. This will allow the village to respond to market shifts as various uses evolve. We expect to break ground on the first phase of the project in late 2021.”
“12th Street is an important economic corridor and a welcoming point to our city,” said Cayce Mayor Elise Partin. “This mixed-use village will give our residents and visitors another great place to dine, shop, and be entertained. It already embodies the same traits of excellence that we have intentionally included in the growth of our city. The team has been great to work with, and we look forward to their breaking ground.”
The Simpson Organization has partnered with EB Development for leasing and marketing services, with Paris Projects for construction management services, and ODA Architecture has been contracted to lead the design of the project.
About The Simpson Organization
The Simpson Organization (TSO) is a closely-held real estate investment banking firm founded in the late 1980’s by A. Boyd Simpson. Over the last 30 years, Simpson has nurtured and grown the organization into a full-service real estate investment company, which has completed more than $5 billion in commercial real estate transactions throughout the Southeast. The company is headquartered in Atlanta, with offices in Orlando, Charlotte, Chattanooga, Roanoke, and Hampton Roads.
About EB Development
EB Development is a full-service real estate development, leasing, and marketing company with offices located in Vermont, Philadelphia, and Columbia, SC, with particular expertise in the outlet retail sector. The company has worked with prominent developers including Tejon Ranch Corporation/Rockefeller Investments, BFC/Goldman Sachs, Federal Realty, DDR, The Simpson Organization, and Garrison Investments.
About Paris Projects
Founded in 1991 and headquartered in Charlotte, NC, Paris Projects is a nationwide leader in development management services. Its projects span the southwestern, south central, and southeastern United States, and include leading American retail brands.
About ODA Architecture
ODA Architecture was established in 1984, in Charlotte, NC. The company has expertise in designing mixed-use developments, corporate offices, retail, hospitality, and industrial. ODA Architecture is a leader in Sustainable Design (LEED-certified).