THE OPPORTUNITY: Cedar Cove at Drake Street is a fully approved multifamily development opportunity. The project is planned for 150 multifamily units in Southeast Columbia. The site plan includes plans for two companion buildings designed as three-story walk-up garden style living. These buildings and associated amenities, including dog park, community pool, and sport courts are efficiently designed on 5.46 acres of land. Additionally, there is an adjacent ±1.8-acre parcel that may be acquired for other amenities. LOCATION: The project is uniquely positioned in the middle of three key nodes of Southeast Columbia; Garners Ferry Corridor with I-77 Interchange, Main Gate to Fort Jackson, and most notably, the new Cross Hill Market featuring Whole Foods. This location also offers quick and easy access directly Downtown or to the University of South Carolina. The Garners Ferry Retail Corridor is at the property’s doorstep, offering all the major national retailers within a convenient 2-3 mile radius. PROPERTY TAX ABATEMENT: Richland County and City of Columbia both acknowledge the burden their property tax assessments place on new development. They have developed a property tax abatement program for new development projects that can achieve up to a 35% reduction in property taxes for the first ten years, provided the developer meets certain criteria. This can include developing additional public infrastructure as part of the project or allocating a percentage of units to meet affordability requirements. Please contact the Brokers for more details on this program. EMPLOYMENT ABOUNDS: There is no shortage of employment in this submarket. Medical employment is available at the VA Hospital and USC School of Medicine. Likewise, education employment with Richland County School District, USC School of Medicine, Midlands Technical College – Beltline Campus or University of South Carolina downtown. Retail employers include Cross Hill Market (Whole Foods, Ulta Beauty, Athleta, Midwood Smokehouse), Food Lion Plaza (Food Lion, Staples), Shoppes at Woodhill (Target, Starbucks, World Market, Party City), Landmark Square (Goodwill, Ross, Dollar General, Big Lots), in addition to most major fast food chains, convenience stores, hospitality options, and more.