Sep
20

Greenville’s Wachovia Place Facing Foreclosure

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One of the pillars of downtown Greenville — Wachovia Place — is facing foreclosure, and the future of the office, retail and apartment complex remained uncertain Monday as a judge decides whether to name a court-appointed receiver to manage the property. The individual businesses that are tenants in the 200,000 square feet of offices, shops and apartments aren’t in foreclosure. But the property could be sold, raising the possibility of new ownership, according to court records.

The property at the corner of South Main and Washington streets began in 1973 as a nine-story office building. Its former owner, DRA Advisors Inc. of New York, added shops, apartments and a courtyard during a major renovation and expansion.

In 2002, Mayor Knox White called the Wachovia-driven rebirth of the block the “most significant redevelopment since the Hyatt” and a hoped-for “breakthrough in retail downtown.”

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