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University of South Carolina Rutledge Building Lease and Development

4/30/2025
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Columbia, South Carolina

University of South Carolina

The buyer seeks a private developer to lease, renovate, and repurpose the Rutledge Building for residential occupancy. The developer will design, construct, finance, operate, and maintain the property through a long-term ground lease. The project involves converting office space into market-rate residential apartments. The buyer requires no funding or financial support for the improvements. The developer must comply with city zoning codes, state building codes, and University safety standards.

  • 2/13/2025 - RFP Issue Date
  • 4/30/2025 - Proposal Due Date
  • Must be properly licensed to conduct business in South Carolina
  • Must agree to a long-term lease
  • Must agree to design, build, finance, operate, and maintain the development
  • Must agree to University design and law enforcement standards
  • Design and construct residential apartments in the Rutledge Building
  • Finance the development project
  • Operate and maintain the residential property
  • Provide revenue to the University through ground lease and/or shared rental income
  • Comply with building codes and University safety standards
  • Conduct hazardous materials abatement
  • Incorporate improvements for campus safety and security systems
  • Develop a financial analysis and market-based pro forma
  • Create a long-term maintenance and operation plan
  • Negotiate lease terms with the University

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