Apr
08

Verdae to Develop 100 Acres on Laurens Road

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Verdae Development Inc. will redevelop 100 acres between Laurens Road and Woodruff Road with a planned mixed-use project that includes 70 acres of residential space, 30 acres of retail space, a new park and a Swamp Rabbit Trail extension. The project is expected to generate $100 million in capital investment.

Verdae Development President and COO Rick Sumerel said at a Tuesday news conference attended by dozens of community leaders that the former Sam’s Club and Best Buy stores on Laurens Road will be demolished. He said the Laurens Road commercial corridor will be overhauled, with a “more urban, pedestrian-friendly design,” with utility lines relocated underground, new streetlight systems and major changes in the roadside frontage. Sumerel said the project has been planned for years.

“We are now at the point where we can actually begin to further define the land plan, working with the city, and we hope in the next few months to be in a position to actually start marketing and attracting other tenants,” Sumerel said. “We believe this initial phase will result in a capital investment of $100 million. We have not done the math on what that is going to create in terms of jobs.” Sumerel said there are not yet any prospective new tenants.

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