Reimagining Laurens Road

A Bold Vision Takes Shape

As a part of Hollingsworth Funds, Verdae Development was born of generosity and a passion for the community.  So, we’re taking our Verdae property on Laurens Road alongside the Swamp Rabbit Trail and rethinking it.  Step by careful step, creating a place that shifts away from a suburban, car-dominant experience to a walkable, close-knit, diverse, connected trailside district.  A place where the mission helps support the larger Greenville community through the Hollingsworth Funds philanthropic initiatives.  And where a broad mix of homes, jobs, businesses and recreation maps onto the city’s smart growth plan and forwards the Hollingsworth vision of a vibrant and healthy Greenville.  

In May 2022, we announced our long-term vision to repurpose approximately 90 acres along Laurens Road, land that encompasses the Verdae Commons Drive area and stretches to Haywood Road, creating a new kind of destination for Greenville.  With a bold new outlook and major redevelopment effort, what would emerge is a vibrant and inclusive mixed-use district, including commercial office, a variety of residential offerings, recreation, and retail in a new urban setting. All designed to reflect Greenville’s cultural and social diversity and act as a catalyst for economic innovation.

Steps of Progress

As with any development project–especially a redevelopment of this scale where a number of businesses are still active—there are many factors and entities involved. So, here are a few highlights as of late 2024:

• Dan Klausner joined Verdae Development, Inc. as CEO in July 2022 to build and lead the development and redevelopment teams.  His expertise in master planning and commercial development have strengthened our planning process and enriched and refined the plan.  

• The Green Line of the Swamp Rabbit Trail officially opened in June 2023 and became the southern terminus for the 28-mile greenway.  That same month, construction began on the Legacy Connector spur that unites the Verdae neighborhoods with this biking, walking and running trail that has become one of Greenville’s most popular attractions.  Verdae Development funded and directed construction for the Legacy Connector and in February 2024 turned ownership over to the City of Greenville as an extension of Legacy Park. 

• After extensive community outreach and input, the City of Greenville adopted a new Development Code in July 2023, and new zoning classifications were created to support Greenville’s 2040 Comprehensive Plan (GVL2040) and urban growth for projects like the Laurens Road redevelopment.

• The planning team for Verdae has expanded to include more industry leaders and experience: Nelson Worldwide Placemaking, RCLCo Market Research, Kimley-Horn Engineers, Seamon Whiteside Civil Engineers, Aecom Transportation, Landscape Architects, and Strada Made.

The Road Ahead

• As a redevelopment project with existing leases, the refreshed plan for Laurens Road requires careful attention be given to project phasing that supports businesses and partners still active along the Laurens Road corridor. It is our hope that businesses in the area will become a thriving part of the plan.  

• The initial phase of the redevelopment will likely begin in the Verdae Commons area (intersection of Laurens Road and Verdae Commons Drive) where the land is unoccupied. Civil and environmental due diligence is underway for this area.  

• Significant infrastructure enhancements will be required for different aspects of the redevelopment. This will take several phases to complete.

• We have heard from a handful of high-profile businesses that have already expressed interest in becoming anchor tenants. It’s too early to make public any details about these initial conversations. But we look forward to keeping the community updated about new tenants and other steps of progress as we move forward. 

  The Backstory: Where This All Started

  Verdae is the 1,100-acre master planned community that launched in 2005 on one of the largest tracts of land owned by legendary textile machinery magnate John D. Hollingsworth Jr. Hollingsworth left the bulk of his estate to Hollingsworth Funds, a charitable foundation established to support Furman University, the YMCA, and a variety of nonprofits benefiting the greater Greenville community.  The creation of Verdae and its continued development helps fund a wide range of community initiatives with annual support from Hollingsworth Funds. 

  Given how Greenville has grown and evolved since 2005, and with almost half of Verdae remaining to be developed, the timing was right to revisit the community’s original master plan and ensure that Verdae is positioned to deliver the greatest possible betterment to the Greenville community in the coming years.  

  So, in 2019, Hollingsworth Funds and Verdae Development requested input from an advisory panel of the Urban Land Institute. The panel’s recommendations led us to engage a world-class team of planning professionals, including Beyer Blinder Belle Architects/Planners and HR&A Land Advisors, to refresh the master plan.  And eventually this inspired a whole new concept for redeveloping our land on the Laurens Road corridor.  

  2022 Announcement Highlights:

  • Laurens Road:  An amazing opportunity to transform and strengthen one of Greenville’s major arteries and to create a new cultural crossroads for all, 90 acres will be redeveloped to support GVL2040.  The Laurens Road project will create a new central street running parallel to Laurens Road and the Swamp Rabbit Trail.  The area will be converted from single-use retail to a walkable mixed-use district that includes office, small business, and entrepreneurship.  The redeveloped area will also emphasize retail that responds to current trends, introduce new areas for public recreation, and integrate a variety of housing options, including affordable housing.  

  • Legacy Square:  This neighborhood-scale district requires a full buildout approach, with the integration of multifamily housing providing the necessary support for a desirable mode of retail. Preserving neighborhood character and putting the “square” in Legacy Square remains critical to project success.

  • Legacy Connector:  Creating a beautiful connection from Legacy Park to the new Swamp Rabbit Trail extension was our first focus of our master plan refresh. And Job One is now done.

Imagine Verdae Update for Proposed TIF District

Verdae and Hollingsworth Funds are excited that Greenville is seeking to create a Tax Increment Finance (TIF) District along Laurens Road as a way to support transformational development without burdening the taxpayer. Verdae intends to redevelop approximately 90 acres of property within the defined TIF District in a way that advances Greenville’s goals for sustainable development in the areas of housing, open space, transit, and economic development. Having a TIF in place is an essential step in the process to create a new urban node and destination on Laurens Road that is consistent with the GVL 2040 Comprehensive Plan.  

If you’re interested in learning more about the proposed TIF and how it can support Verdae’s redevelopment plan, we’ve included a few facts below.  As we make progress on our 90-acre portion of land along Laurens Road, we look forward to sharing more news and exciting updates with the Greenville community. 

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What is a TIF?

Tax Increment Financing (TIF) is a simple and widely used concept that allows local taxing bodies such as the City of Greenville, Greenville County, and Greenville County Schools to use future tax dollars that are created by development to fund the improvements for necessary public-owned assets like roads, water and sewer, open space, and more. The Laurens Road TIF District is being proposed as the way to ensure planned development can happen without raising taxes or using existing tax revenues from the City, the County, or the School District. 

How does the proposed TIF work?

Following final acceptance of the proposed TIF, Verdae would pay for public improvements within their area of development up front at no risk to the participating taxing entities. The acquisition of these public infrastructure improvements would come later in the form of bonds issued by the City that are funded by the incremental growth of the tax base. The financial risk is basically shouldered by the Developer—not by the participating taxing entities.

Why Laurens Road?

Laurens Road is a key artery and corridor with a significant opportunity for redevelopment of obsolete big box retail, converting the area from single-use retail to a walkable mixed-use district that includes residential, commercial office, small business, right-sized retail, and more—all driving economic development. 

Are any residents being displaced?

The redevelopment of the commercial properties within Verdae’s plan would not come at a cost to existing residential.  In fact, the development would create an array of new housing options. 

How does Verdae’s project benefit Greenville?

The planned area for the TIF district is currently responsible for less than $1 million of the annual tax base. The planned development on Verdae’s 90 acres would bring exponential value and growth.  At the end of the proposed TIF agreement, the same area is projected to contribute $31 million towards the annual tax base.