Columbia’s Downtown Set for Transformation with New Credit Union Headquarters

COLUMBIA – A New Horizon for Downtown

Exciting news is buzzing around Columbia as the city gears up for a transformative project that could change the face of downtown. Palmetto Citizens Federal Credit Union has received the green light to move forward with their plans for a new 100,000-square-foot headquarters at the vibrant corner of Lady and Sumter streets. This marks a significant milestone, as the plans passed through their final city committee hurdle on September 19.

Plans in Motion: What’s on the Table?

Imagine stepping into a stunning five-story building that not only houses the credit union’s operations but also revitalizes the surrounding area. Robert Dozier Jr., the President and CEO of Palmetto Citizens, believes that this location is perfectly positioned for transformative growth. He mentions, “There’s been so much focus on Main Street and so much good work, and with Bull Street and the Vista… If we were looking to move the headquarters anyway or build a new one somewhere, why not do it right here?”

The development will be strategically situated on a city block bordered by Lady, Marion, Sumter, and Washington streets. Not only does this project include the headquarters, but also plans for a 325-space parking garage to cater to the needs of employees and visitors alike. This parking structure will be tucked away behind the main building, providing convenient access while maintaining the aesthetics of the bustling downtown environment.

Building Up for the Future

But what does this all mean for the local community? Well, the new headquarters is not just any building; it represents the credit union’s vision for expansion and collaboration. Currently, Palmetto Citizens serves over 84,000 members and employs 315 staff. With this new space, they are aiming to grow their workforce to 500 employees and increase their assets to $2 billion in the coming years. Dozier emphasizes, “The new building will allow us to better attract potential employees from neighboring institutions like the University of South Carolina, Allen University, and Benedict College.”

In addition to office space, the building design includes a restaurant with an outdoor dining option on the ground floor, alongside a wellness center and gym for employees. The team is committed to ensuring that the aesthetics of the building blend harmoniously with the existing historical vibe of downtown Columbia. Dozier remarked, “It doesn’t take long to know that there’s work to be done” regarding the improvements he envisions for Sumter Street.

Connecting People and Promoting Growth

As with any significant change, the hope is for a ripple effect. The credit union’s decision to consolidate its workforce is expected to drive more economic activity to the surrounding area. It’s not just about having a beautiful new building. “Once construction begins, other businesses on the street may be inspired to make similar enhancements,” Dozier notes optimistically.

Looking Ahead: What’s Next?

The construction timeline is also quite promising. If everything goes according to plan, demolition of the existing largely vacant buildings could start as early as December, with construction kicking off in spring 2025. The entire project is anticipated to take about 18 to 24 months, during which time the credit union will continue to operate from their existing building on Washington Street.

As the city eagerly anticipates this significant addition to its landscape, the Palmetto Citizens Federal Credit Union is set to redefine not just a downtown block but also the potential for growth and community engagement in Columbia. Stay tuned, because as the sun shines over this emerging development, the future of downtown Columbia is looking brighter than ever!