The University of South Carolina (USC or University or Lessor) seeks to contract with a private developer (Tenant or Developer) to lease the site known as “Carolina Gardens” located at 101 Pickens Street. The property, owned by the University, will be made available through a negotiated long-term ground-lease. The property is an entire city block bounded by Whaley, Pickens, Heyward and Bull Streets containing three existing two-three story apartment blocks. The Tenant shall design, construct, finance, operate, and maintain a redevelopment that will replace or renovate the existing buildings to develop residential structure(s) intended for occupancy by citizens of 55 years in age. Marketing should emphasize access to University of South Carolina alumni as preferred residents in a “University Retirement Community”.
