Dec
08

Development of Research Hub to Take Years

By
City Council to vote on financing plan

– The Post and Courier

A neglected section of Charleston’s West Side is about to become the focus of a sweeping redevelopment plan aimed at creating a biomedical research hub, public amenities, new homes and stores.

The partners in the $155 million initiative — the city, Medical University of South Carolina and South Carolina Research Authority — all say redevelopment won’t happen right away, but the city will take the first step Tuesday when City Council holds a preliminary vote on a financing plan.

“Whether we’re able to break ground next year or the year after next, the economy and the state’s finances will determine that,” Mayor Joe Riley said. “It will be a matter of when, but not if.”

Dr. Ray Greenberg, president of MUSC, said the development “will unfold over years, if not decades.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charleston.net/news/2008/dec/07/city_council_vote_on_financing_plan64292/
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