US Development Announces First Venture in Columbia
May 5, 2009
COLUMBIA, SC – May 1 – US Development, USD, announced today it has agreed to purchase the property at 1321 Lady St. in downtown Columbia. Redevelopment plans call for transforming the property into a luxury market-rate, independent living facility for retirees and active adults.
USD President David Bryant explains the rental homes will have studio and one- and two-bedroom facilities and will be the first property of its type offered in the Columbia city center.
Bryant says, We have named it The Dakota because we’re striving for a New York City lifestyle; it will be totally self-contained. By this, I mean residents will have almost every convenience they might need on a day-to-day basis. And those that aren’t provided in-house will be within easy walking distance.
The property is located across from a branch post office and within several blocks of almost every denomination church, restaurants, Palmetto Health Baptist hospital, the library and several museums.
I live downtown, says Tom Prioreschi, USD CEO, and the greatest benefit is being able to walk wherever I want to go. I don’t even own a car anymore, and the exercise has really improved my overall health.
Numerous amenities will be offered on-site, including the following:
- 24-hour front desk coverage and security
- Dietary services
- Full-service meals
- Maid and linen service
- Massage therapy
- Beauty salon and barber shop
- Pedicures and manicures
- Exercise and yoga classes
In addition, plans call for scheduled medical visits; on-call physician services; a central dining area; training and physical therapy; exercise and workout rooms; accounting, bookkeeping and estate planning services; shuttle bus transportation; and a hobby shop. There also will be a full-time activities coordinator.
Safety will be a major component in the development of The Dakota. Plans indicate round-the-clock security; fire, smoke and individual emergency alarms in each residence, all connected to a centralized monitoring panel; security checks of homes during a resident’s vacation or other extended absence; and daily checks on residents who request this service.
USD has teamed up with Revere Healthcare, a national company that owns and operates approximately 10,000 similar residences throughout the country. We selected Revere because of their excellent national reputation, and we’re excited about the many possibilities this new venture will offer to Columbia residents, says Bryant. USD will develop the property, and it will be operated by Revere Healthcare.
US Development is the first company of its kind in the nation, specializing in infill redevelopment in the central business districts of major metropolitan areas.
The company focuses on historical landmark renovations, senior housing and center-city properties in the Southeastern region of the country.
The company was created and founded by three long-time real estate entrepreneurs: David Bryant, principal of Metropolitan Development Inc.; Tom Prioreschi, founder of Capitol Places, and Jeff Prioreschi.
The Dakota is the first venture under the US Development model. It is in the design phase, and the developers welcome the public’s input. Interested individuals should visit the company’s website, thedakotacolumbia.com, for comments and additional details on the development. The company also is in the process of opening operations in several other locations in Georgia, North Carolina and Virginia.
