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

COLUMBIA — Exciting Changes on the Horizon for Downtown

There’s some buzzy news for folks who love everything Columbia! The city is about to see a big transformation as Palmetto Citizens Federal Credit Union plans to build a new headquarters that could redefine a downtown block. This project has just cleared its final committee hurdle at a city meeting on September 19, and stakeholders are all abuzz with anticipation.

So, what’s the scoop? Well, Palmetto Citizens is eyeing a five-story, 100,000-square-foot building at the corner of Lady and Sumter streets. They’re ready to demolish a nearly vacant structure to make way for this much-needed headquarters. President and CEO Robert Dozier Jr. is excited about the new digs, suggesting that this location could be crucial in making downtown Columbia more vibrant and appealing.

Making Downtown Columbia a Hub of Activity

“We believe that this location specifically can help be transformational to downtown Columbia,” Dozier shared at the committee meeting. With many developments focusing on Main Street, it’s refreshing to see energy being directed towards other areas, particularly the corner of Sumter and Lady streets where the new headquarters will soon stand.

As part of the plan, there will also be a 325-space parking garage situated behind the headquarters. This will make the building not just an office, but an inviting place for employees and customers alike to come and go comfortably. While the credit union hasn’t disclosed the total cost of the project just yet, the land and buildings earmarked for demolition are valued at over $3 million!

What’s Next for Palmetto Citizens?

For now, the existing Palmetto Citizens headquarters at 1320 Washington St. will continue to operate until the new building is ready. What happens to that location later remains up in the air, which keeps options open for the community and the credit union alike.

This project is significant as it marks one of the largest office developments in downtown in many years. With a surge in mixed-use and student housing projects recently, it feels like a fresh breeze to have a community-focused office space coming to life!

Better Access to Employment Opportunities

What’s even better is that this development will benefit the credit union’s workforce by consolidating operations into a single downtown location. It’s a smart move, making it easier for prospective employees from nearby University of South Carolina, Allen University, and Benedict College to find jobs at Palmetto Citizens.

The design will reflect the historic charm of the area while still providing modern amenities. In addition to office spaces, there will also be a restaurant with outdoor dining on the ground floor, creating a welcoming environment for both employees and visitors. An employee gym and wellness center is also part of the package, perfect for on-the-go health enthusiasts!

A Vibrant Community Effort

Dozier believes that this new development could encourage other businesses in the area to improve their spaces as well. The credit union is hoping to improve the walkability and overall feel of Sumter Street, aligning it more closely with that of Main Street just a block away. “There’s work to be done, and we want to be part of that positive change,” he added.

With all these plans in motion, Dozier hinted at a timeline that could see the demolition of the existing buildings beginning in December, with construction kicking off by spring 2025. If all goes smoothly, we can expect to see the new headquarters opened within 18 to 24 months!

Serving the Community and Beyond

Currently, Palmetto Citizens serves around 84,000 members and has 315 employees. The institution holds approximately $1.3 billion in assets and has plans to expand even further, aiming for about 500 employees and $2 billion in assets in the coming years.

As they grow, the credit union is excited about the role they’ll play in fostering economic activity in the area. They plan to provide support for local nonprofits by offering conference spaces and a rooftop terrace overlooking iconic landmarks such as the state’s Supreme Court and State House.

With all this wonderful news, Columbia is certainly on a bright path. It’s exhilarating to think about the positive impact and revitalization this project will bring to our beloved downtown area!