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EXPLAINED: TIF and how Laurens Road redevelopment will be funded [Video]

GREENVILLE, S.C. (FOX Carolina) – From the “motor mile” to an “urban destination”- that’s the hope for the Laurens Road corridor in Greenville. City council’s approval this week sets up a financing plan to fund the decades-long redevelopment effort.

“There’s a lot here happening right now on Laurens Rd. a lot of viable businesses, there’s a lot more potential if we’re looking way, way off in the future,” said Grant Cothran, the founder of ReCraft Creative Reuse Center on Laurens Road.

There are just over 200 acres within the target area, many of those parcels are vacant and will play a big role to kick off new development.

“Lots of green space, lots of multifamily mixed in with really quality, quality retail, including a supermarket we hope for that area,” said Mayor Knox White.

A small version of downtown is the vision. Verdae Development and the Hollingsworth Fund will lead the change. The …

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