Streams Development and Century Development Partners have revealed plans to construct a 300-unit market-rate apartment complex in Columbia.
The $94.5 million development plan was approved during a third reading Tuesday night by Richland County Council as part of the Commercial Development Program it operates in collaboration with the City of Columbia, according to a news release. The city approved the plan at a prior meeting on Jan. 23. The investment will create a total of 10 new full- and part-time jobs, as well as hundreds of construction jobs.
The Streams at Earlewood is planned for 301 Sunset Drive just outside of the historic Earlewood community and will feature a mix of one-, two- and three-bedroom apartments, as well as ample parking in a 520-space parking garage and 42 surface lot spaces, subject to planning departments’ design approvals, the release stated.
Alex Dmyterko, CEO at Streams Development, said numerous factors contributed to the selection of the site, such as proximity to the North Main development corridor, the ability to construct a large-scale property so close to the city center, and the opportunity to increase the availability of housing and neighborhood choices in the area.
“There hasn’t been a modern development of this type in years,” Dmyterko said in the release. “We are excited about the transformative impact that this development can bring to the community, as we work towards final investment decisions.”
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Developers also plan to incorporate modern lifestyle amenities into the complex, such as a swimming pool, dog park and EV charging stations, the release stated. The 8.46-acre site was purchased by Central Baptist Church of Columbia and originally used as a shopping center in the 1960s.
“The support our teams have received has been vital in fulfilling the long-standing vision of Central Baptist Church and SVN Blackstream to revitalize the River Drive Corridor. We are grateful for the collaboration and assistance from the City of Columbia and Richland County,” said Brent Chitwood, SVN Blackstream managing director, in the release.
Commitments to provide modern, accessible residential options is a focus for both Richland County and the City of Columbia, according to the release.
“Richland County welcomes the construction of The Streams at Earlewood,” said Richland County Council Chair Jesica Mackey in the release. “The multimillion-dollar development project brings new growth to historic downtown with the creation of new jobs and living amenities. It also underscores Council’s continued commitment to economic development.”
Upon determination of final investment decisions, construction on the complex is scheduled to begin in the first quarter of 2025, with completion slated for the first quarter of 2027.