Rock Hill Main Street
South CarolinaBACKGROUND
For almost fifteen years, the most prominent structures on Main Street in the South Carolina community of Rock Hill sat vacant and abandoned. The former Peoples National Bank and Trust Company and Annex were once a key fixture of the community as a bank and later a office building. But shifting economic vitality to the surrounding suburbs brought an economic downturn to the entire Central Business District of Rock Hill by the 1970s. An effort to make Main Street more competitive with suburban shopping centers by turning Main Street into a pedestrian mall only exacerbated the deterioration.
The tide has started to turn in recent years, however, with the rehabilitation of several historic structures and the adoption of the National Main Street Center`s economic development model. The development of the Dalton Building and Annex into a mix of retail and residential strengthens this trend and supports the community`s goals of attracting residents and retail downtown.
THE PROPERTIES
The Dalton Building was constructed in 1909 as the Peoples Bank and Trust Building and is listed on the National Register for Historic Places. As a five story building, it is one of the tallest structures in the downtown. The Dalton Annex is a two-story building built around 1900 for retail purposes. Both properties fell vacant in 1988. PROJECT GOALS
The $5.8 million rehabilitation undertaken by Dalton Properties, LLC converted the Dalton Building into 23,000+ net square feet of upper floor apartments and first floor retail and office space. The Annex provides 5,600 rentable square feet of commercial space only. The project included modernizing building systems, installing new windows and elevators and quality finishes including pine floors, marble columns and caffered ceilings -- all done with careful attention to existing architecture. This allowed the Dalton Building project to qualify for the 20% federal historic tax credit while the Annex qualified for the 10% non-historic federal tax credit. The apartments feature gas fireplaces, outdoor terraces and modern kitchens.
COMMUNITY AND PRESERVATION IMPACT
The rehabilitation of the Dalton Properties into mixed-use development is an important component of downtown Rock Hill`s revitalization. The properties possess landmark status in the community. It is a major boost to Rock Hill`s vitality and self-image to have these two buildings restored and occupied. Further, the Dalton Building represents an important link to the past and now stands preserved.
| Properties: Former bank building and commercial building
Location: Downtown Rock Hill, SC Developer/Owner: Dalton Properties, LLC Historic Status: National Register for Historic Places Project Goals: 23,000 net square feet of residential, retail and office space; 5,600 net square feet of commercial space Total Project Cost: $5.8 MM
Project financing:
$1.0 MM - Federal historic tax credit equity investment by Banc of America Historic Tax Credit Fund Project completion: 2001 |
For more information contact:
Community Partners
National Trust for Historic Preservation
1785 Massachusetts Avenue, NW
Washington, DC 20036
202-588-6054
community_partners@www.preservationnation.org
