Photo Gallery | City votes to sell Palmetto Compress Warehouse
Despite almost having a date with a wrecking ball, the Palmetto Compress building will be purchased by a developer who plans to turn the building into a retail, hotel, and office space.
Executive Director of the Columbia Development Corporation Fred Delk says the deal is worth $5.75 million.
The City of Columbia passed a vote Tuesday to sell the building to a group who will get to work renovating it.
According to the developer, the building will be renovated to include the following:
- 10,000 sq. ft. in housing
- 18,000 sq. ft. in housing parking
- 38,000 sq. ft. in entertainment
- 7,000 sq. ft. in restaurant
- 10,000 sq. ft. in event space
- 7,000 sq. ft. in retail/museum
- 70,000 sq. ft. in hotel space
- 122,000 sq. ft. in office space
The vote is just the latest chapter in the winding story of the mostly empty building that sits almost squarely in the middle of downtown Columbia on Blossom Street.
Preservationists fought to have the building saved from destruction.
The building was just days away being demolished before the City of Columbia drafted a plan to purchase the property.
At it's meeting just hours after the announcement, city council voted unanimously to approve the sale. It is expected to be finalized some time in February.