A groundbreaking ceremony Nov. 9 on the grounds of a massive $83 million redevelopment project in the heart of downtown Greenwood launches the beginning of construction for multiple-use buildings and amenities. Greenwood Mayor Mark Myers at the podium greets guests who attended the special ceremony. Standing behind Myers are additional dignitaries who spoke of the project’s importance, from left, Greenwood council member Ezra Hill, Great Lakes Capital managing director Clay Scheetz, and Greenwood Redevelopment Commission president David Hopper. They later donned white hats and grabbed shovels for the ceremonial groundbreaking with financier Chris Reid, second from left, and former Johnson County Sheriff Terry McLaughlin, far right. (SOUTHSIDER VOICE PHOTOS BY AL STILLEY)
Proclaiming the value of smart investments and smart partnerships, Greenwood Mayor Mark Myers opened a groundbreaking ceremony that will make the redevelopment of “The Madison” a reality.
“The Madison” is the new name for an $83 million multi-purpose development on 19 acres of land where the old Greenwood Middle School was located. The redevelopment project that has been on the drawing board since 2013 and includes the Greenwood Fieldhouse to be opened in early 2022 and several more buildings. The Madison features a combination of residential units (condominiums, townhouses and apartments), 18,000 square feet of commercial, retail, restaurant, and entertainment space, and a 356 car capacity parking garage.
“We are taking a major step toward building the Greenwood of tomorrow,” Myers proclaimed.
The public-private partnership that Myers praised consists of $15 million in street and site improvements plus the parking garage and $68 million in private investment.
The area is south of the Greenwood Public Library and forms a link with Old Town Greenwood, amphitheater, nearby splash pad, the new city park, spacious Craig Park to the east, and the reimagined Madison Avenue corridor.
Myers also praised business owners in Old Town Greenwood along Main Street and Madison Avenue.
“This project and the Greenwood Fieldhouse are important milestones in a years-long effort to revitalize Old Town,” Myers emphasized. “They (business owners) believe in the message we have here for Greenwood and they want to be a part of it.”
Groundbreaking speakers also included Great Lakes Capital managing director Clay Scheetz, Greenwood City Council member Ezra Hill and Greenwood Redevelopment Commission president David Hopper.
The City of Greenwood also formally closed on an agreement between CRG Residential and Great Lakes Capital and also bonds to fund the project.
Hill emphasized that The Madison brings life back into Greenwood because of the project’s revitalization of Old Town, improved amenities, its link to trails and parks, its density, and even more opportunities for development.
Scheetz, the son of a Greenwood business owner, said, “Following the city’s strong economic development activity and growth through the years, we are confident in our decision to invest in Greenwood.”
The updated plans also call for two additional buildings along Surina Way potentially for condos.
Scheetz also emphasized that The Madison is “a community within a community” that provides residents with a place to live, work, and play.
The project, according to Hopper, is anticipated to add an additional one million dollars in tax revenue for the city without increasing taxes for current city residents.
No estimate was provided on the completion of The Madison
The property is bordered by Madison Avenue, Smith Valley Road, Meridian Street, and Surina Way.