The Hanahan Town Center Property Procurement and Revitalization Project
- The City of Hanahan's Economic Development Initiative is specifically for the acquisition of "blighted, deteriorated, undeveloped, or inappropriately developed" property in order to promote "sound community development and growth" in the future. According to the "activities eligible" under section 5305 of chapter 69 of title 42 or the United States Code, section (1), "the acquisition of real property," for these purposes is permitted and what the program is designed for.
- The City of Hanahan will do everything in its power to comply with the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards at 2 CFR Part 200, the National Environmental Policy Act (NEPA), HUD’s NEPA-implementing regulations at 24 CFR Part 50 or 24 CFR Part 58, and all appropriate Federal environmental and historic preservation laws, regulations, and Executive Orders with all requirements under this grant.
- Project Purpose: To acquire blighted or inappropriately developed property in the Hanahan Town Center District and promote redevelopment through public and private partnerships, while maintaining the communities' vision as outlined in our 10-Year Comprehensive Plan and 2023 Town Center Master Plan.
- Total Cost: $5,392,848
- Location of the Activity: Property procurement will take place in the Hanahan Town Center District as detailed in the city's 2023 Town Center Master Plan.
- Description of Project:
The City of Hanahan is applying for the FY24 appropriations request to create a budget to specifically procure inappropriately developed property in Hanahan's Town Center District to further revitalization efforts and stimulate smart economic growth.
The Hanahan Economic Acceleration Team will utilize all available Economic Development Initiative funds to procure parcels inside the Hanahan Town Center District for redevelopment, and partner with private developers to rehabilitate buildings and properties to align with our Comprehensive Plan and Town Center Master Plan.
Current status of the Hanahan Town Center Procurement Project is on hold due to budgetary constraints.
A recent study performed inside the Hanahan Town Center District identified at least eight potential development tracts from two to six acres, and dozens of smaller parcels ready for redevelopment, and land assembly opportunities that could result in development and enhance as well as strengthen the local economy, while still maintaining the uniqueness and warmth of a small town.
In addition, with the help of our Retail Strategy Team and local commercial real estate professionals in the area, we are focusing on three sites outlined in the 2023 Town Center Master Plan for procurement and redevelopment.
First, 5910 Sellers Road is a mobile home park right off the main road in the Town Center District which is deteriorating every day. Crime is increasing and the standard of living is declining. It was recently purchased in 2020 and the new owner has no intention of redeveloping it. It currently provides affordable housing to area workers, but, as land rents increase, the standard of living will continue to decline, and what was once affordable housing will no longer be sustainable or healthy for its occupants. It is a vicious cycle happening all over the country, where businesses purchase mobile home parks, raise land rents to increase borrowing capabilities, refinance and cash out millions, moving on to the next town to do it again. Meanwhile, residents are stuck or held hostage because while they own their mobile home and only rent the land, it costs thousands to move the mobile home, and most cannot afford to do so. To stop this vicious cycle, the city needs to procure this land, buy out the mobile home residents, and partner with a developer to create a sustainable affordable housing solution.
Second, 1279 Yeamans Hall Road is a well-known hardware store in dire need of investment. To help Blackwell's Hardware, survive, the owners must consider selling at least two of their adjacent parcels to encourage healthy business activity in the Town Center District. The city would seek to purchase the blighted buildings owned by them and work with a private developer to get them business ready.
Third, 1287 Yeamans Hall Road is located at the entrance of our Town Center District and is currently being used has affordable housing space. It is need of being modernized and updated. With the procurement of this location, the city would partner with a developer specializing in mixed use development to provide more healthy business locations as well as affordable housing.
- 5910 Sellers Road, Hanahan, SC 29410 - Appraised Value: $3,011,200
- 1279 Yeamans Hall Road, Hanahan, SC 29410 - Appraised Value: $1,089,900
- 1287 Yeamans Hall Road, Hanahan, SC 29410 - Appraised Value: $297,800
Total Appraised Value: $4,398,900
According to the Charleston Trident Area of Realtors, single family detached home values in Hanahan have risen 22.6% in 2023, and commercial property values have seen similar increases but quantifying them is more difficult due to the lack of financial details and rent rolls available. Therefore, we are applying a 22.6% increase to the Appraised Value or $993,948 in total, bringing the total procurement project budget to $5,392,848. Going forward similar properties in the town center district will also be considered because purchase of these parcels cannot be guaranteed. Further, our hope is for private developers with a common vision to see the potential of this area on their own.
Going forward similar properties in the town center district will also be considered because purchase of these parcels cannot be guaranteed. Further, our hope is for private developers with a common vision to see the potential of this area on their own.
Due to its centralized location and character, property procurement in the Hanahan Town Center District combined with private partnership will be a catalyst for investment, one day transforming the area into a vibrant, diverse, and inclusive space for generations to come.
The City of Hanahan is known as a quaint “bedroom community," and while we do love this about our city, we realize it is in dire need of more businesses and services to serve its residents.
One tried-and-true method cities are using to move in this direction is through property procurement and forming partnerships to encourage smart growth in those areas.
The Hanahan Economic Acceleration Team along with elected officials would assess all developers and investors following procurement; Property procurement would be immediately followed up with a Request For Proposal (RFP), advertising the procured parcel in the town center to potential developers/investors, and private partners will be selected on how well their proposal meets the character and needs of our community.
Over the past two years, the city has surveyed its citizens and held multiple meetings creating the 10-year 2022 Comprehensive Plan and the 2023 Town Center Master Plan to determine these needs. Both plans will provide a framework for the Hanahan Economic Acceleration Team in deciding which partnerships to pursue.
Through these events the citizens have communicated a strong desire for a downtown area with family friendly restaurants and entertainment, gathering spaces, live music, public art, and more retail options.
Very few of these options can be found in the Hanahan Town Center District, but with the procurement budget we are requesting, the city can work to change this one property at a time.
The city has been successful up until now because of major neighborhood developments that have been ongoing for the past 20+ years. However, the city is landlocked and expected to be fully built out within the next few years.
The City of Hanahan must evolve, encourage more density, and grow our business sector in order to sustain the city.
The Hanahan Town Center Property Procurement Project is a vital economic tool which will fix our failing infrastructure in the town center, encourage business growth and real affordable housing, and help sustain our great city.
Impact on the state of South Carolina:
A healthy and vibrant Hanahan means an even more respectable state of South Carolina. The Hanahan Town Center Property Procurement Project will have a major impact in the lowcountry. As blighted and mismanaged properties in our town center are procured and redeveloped into successful business options, Hanahan will encourage smarter economic growth in the nearby sectors. More development and investment will follow lifting neighboring communities around the Remount Road corridor out of poverty. As a result, crime and drug use will decrease and affordable housing will increase but also be sustainable.
The Hanahan Town Center District will become a place where its diverse population can celebrate their different backgrounds and come together for family fun or a night out. In addition, the Naval Weapons Station is next door to our city, and we have been notified that 3000 navy men and women are set to hit our shores over the next 3 years. Property procurement combined with the promotion of mixed-use buildings, will in turn, lead to a much quicker solution for these service men and women, increasing the amount of affordable housing, and more importantly, giving them a family atmosphere to live in and carry out their duties.
