Lexington SC Real Estate Update March 19, 2010

March 22nd, 2010

Lexington traffic plan hits snag - Lexington SC leaders will look at alternatives to concrete lane barriers one town council member says is a “monkey wrench” in the town’s traffic plan.  Ted Stambolitis said the barriers will hamper access to business along Columbia Avenue and West MainStreet between Butler Street and Park Road.  State Department of Transportation officials said the barriers were proposed to help increase traffic flow and safety.  Stambolitis’ own Flight Deck restaurant is located in the area. But he said he is not asking for special consideration for himself.  “This will affect dozens of businesses,” said Stambolities, who expressed concern that more business owners didn’t attend a publi hearing on the plan last month.
 
Lexington County mapping out strategic goals - Lexington County is planning for the future and services that will be needed by county residents.  While many of its strategic goals are a long way off, they will be affected by problems the county faces today.  “We need to do a good job of studying where we are headed, so we can be well-prepared for the future,” Councilwoman Debbie Summers told County Council.  Summers is part of County Councial’s goal committee for providing public services.  One of those areas is rural transportation.  How transportation is handled could affect air quality and roads. “With limited funds for roads, we could get a lot of cars off our streets through public transportation,” she said.
 
West Metro Region of Lexington County is thriving - According to a report from NAI Avant, the West Metro Region of Lexington County is thriving.  In the current report by the Commercial Real Estate firm, nearly half of the market lies withint the incorporated communities of Cayce, West Columbia, Springdale, South Congaree and Pine Ridge.  The market is described as “transportation rich” with sections of three interestates I-77, 20 and 26.  In addition, the Columbia Metropolitan Airport and rail services provided by CSX and Northforlk Southern provide excellent accessibility to the metropolitan Columbia region.  Land prices and rents in the Cayce-West Columbia market are relatively inexpensive.  Land for single family residential developments costs between $19,000 and $35,000 per acre.  Land for retail development and banks is priced between $5 and $18 per square foot, according to the report.  Sites for industrial buildings cost between $40,000 and $60,000 per acre while small tenant retail space for lease costs from $6 to $16 per square foot.
The SC State Farmers Market expected to open in June is predicted to be a further boom to the area that includes the Lexington County Industrial Park and Charleston Highway.
 
Irmo, Lexington renew rivalry on the court – After sweeping the Yellow Jackets last season, Lexington met Irmo in the Class 4-A Lower State championship game.  The Jackets exacted some reverge on the Wildcats, beating Lexington and advancing to the state championship match.  Now, the teams get ready to take the court for the first time since that match Thursday at Lexington High School.  Both teams are 2-0 and coming off wins Monday.  Irmo rallied to defeat Camden 4-2 led by No. 1 Paul Reed.  Lexington defeated Dorman Monday 4-2 even after their top two players were defeated.

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