By Liz Segrist
lsegrist@scbiznews.com
Published Aug. 1, 2012

The foundation and cement pillars at the site of McBee Avenue and Spring Street are a reminder of the stalled Peacock Hotel & Spa construction.

Local businessman Grant Peacock plans to build an apartment development at the site at McBee Avenue and Spring Street in downtown Greenville. (Photo/Liz Segrist)

The site, located a block from Main Street in downtown Greenville, has remained vacant for several years after the recession stalled the project. Local businessman Grant Peacock now plans to build an apartment development at the site.

Peacock said he hopes to begin construction this fall, pending some city approval. The planned four-story apartment development likely will have 55 units that are mainly one- and two-bedrooms, as well as some studio units.

Peacock said it’s too early to discuss monthly rental rates, amenities or any project specifics. The proposed name for the apartments is 98 East McBee. Peacock’s partner on the former hotel plan, Mark Kent of Kent Wool, will remain as a managing partner for the new project.

“Apartments are about the only thing that banks are willing to finance today,” Peacock said. “There seems to be a demand for them downtown.”

Kent and Peacock planned the $60 million Peacock Hotel project with hotel rooms, condominiums, a spa, a restaurant and a ballroom in 2006. The recession stalled plans and financing for the high-end, luxury boutique hotel. It was originally planned to open in the first quarter of 2009.