A new affordable housing option for seniors is in the future for the St. Andrews submarket after Midlands Housing Alliance purchased Dutch Plaza, a 76,000-square-foot building, from D&P Beach Properties LLC.
Crawford Prezioso, a brokerage associate with Colliers South Carolina, represented both the seller and the buyer. Prezioso represents owners, landlords, users and tenants in the leasing and sale of commercial properties around Columbia and central South Carolina
The alliance also retained LCK, Colliers’ project management partner, to handle the building upfit, and awarded the property management to Colliers’ Real Estate Management Services.
The first phase of the property’s transformation will occur in the back two buildings. One will be renovated to serve as an adult day care facility for medically fragile clients in need of mental and physical activity. The second building will be renovated to create handicap-accessible rental apartments designed to meet the needs of elderly individuals.
“The Midlands Housing Alliance had a specific set of zoning and location requirements for its new affordable housing complex, and a property that met these needs was not readily available,” Prezioso said. “With the advisement from LCK’s project management experts on Dutch Plaza’s long-term value, it became a natural choice for the Midlands Housing Alliance.”
The primary goal of the Midlands Housing Alliance and Transitions, its homeless recovery center, is to move people from homelessness to permanent housing.