Styx Companies has invested $2.75 million in the opening of a new CubeSmart self-storage facility in Greenwood. Styx Companies redeveloped an existing building adjacent to Greenwood’s Medical Innovation District, according to a news release.
“We were excited for the opportunity to redevelop this project in Greenwood. Being able to repurpose an abandoned building to a higher and better use that contributes to the tax base and community is a great venture,” said Ryan Hyler, Styx Companies partner, in the release. “With proximity to the hospital and uptown, we believe this is a great location to serve the growing community.”
Located at 1508 Edgefield St., Greenwood, the 47,000-square-foot facility had been a Food Lion grocery store, but vacant since 2007. CubeSmart provides 300 storage units ranging from 25 to 300 square feet. The facility is 100% climate controlled and has a 14-foot moving truck available for customers to use for free for all move-ins, according to the release.
“We are excited to see building redevelopment in the city of Greenwood. We are strengthened by the generation of new taxes and hope to see more redevelopment opportunities in the future,” Greenwood Mayor Brandon Smith said in the release.
The project made use of the South Carolina Abandoned Buildings Tax Credits for Redevelopment, which encourages private investment to alleviate adverse real estate conditions such as abandoned, textile and historic buildings.