Now that Live Oak Street construction has been completed and the vacant city buildings have been demolished, what’s next for the vacant lot at Cantegral Street known to Bryan Place as City Lights?
We were told that South Carolina based investor and builder Greystar has plans to develop several hundred apartment rental units on the lot. Unfortunately it has been reported that the developer has ran into environmental contamination issues at the site.
A study indicated surface and groundwater contamination caused by past commercial and industrial uses. Therefore the closing of the purchase is now scheduled for May or June.
Plans to develop the tract has been in the works since 2004. Margaux City Lights Partners Ltd put the tract under Chapter 11 protection in September.