Verdae Development is Greenville’s first and largest master planned community, spanning 1100+ acres. A quick breakdown: compared to your typical residential development, a master planned community has a variety of housing styles + price ranges, incorporates retail/office/entertainment space, and is more conscious of green space + the environment.
The development will be mixed-use, with businesses and public spaces woven in with residential areas. But that takes more time + effort to plan – developers aren’t just squeezing a coffee shop between rows of houses.
Announced in 2005, phase 1 focused on residential development, with 8 neighborhoods in progress. There’s a spectrum of housing from the high $200s to the millions (everywhere from affordable rentals to grand estates), so you’ll see young families + retirees alike at the neighborhood barbecue.
Now we’re on phase 2. Verdae began the transition toward commercial development in 2015, which is what really sets a master planned community apart:
- Building + completion of the Legacy Square business district in Hollingsworth Park (the main residential hub)
- Wrapping up residential development in Hollingsworth Park
- Redevelopment of the Laurens Road corridor (retail, residential, a new park, + Greenville Health System Swamp Rabbit Trail connections)
Phase 3 is expected to begin around 2026, when parcel sales will be wrapping up + any construction left will be completed. Right now, there are about 500 undeveloped acres left, meaning Verdae is about 50% through its 30-year plan.
Verdae will be 1.3 times bigger than Central Park (843 acres). Where did the funding for a project this big come from?
Thank John D. Hollingsworth Jr.
When the businessman + philanthropist passed away in 2000, most of his fortune ($290 million) went to Hollingsworth Funds, which created Verdae Development, Inc.
Hollingsworth wanted the money to go toward good for the people of Greenville, and Verdae is following through: it aims to encourage economic development, bring back tight-knit neighborhoods, and be an example of smart growth for our city.
We hear a lot of feedback that developments are coming too fast + should better consider the needs of the community. That’s exactly the goal of a master planned development. Local shops and restaurants in walking distance, neighbors who know each other, and homes with unique character.
And in case you’re a numbers person:
- 10,000 residents, 500 businesses + 15,000 new jobs
- $2.18 billion in estimated improved property value
- 650+ already occupied homes in Hollingsworth Park (which will be about 850 homes when completed)
(Not to mention $7,659,087 distributed by Hollingsworth Funds to 53 GVL organizations in 2017.)
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