A Small Center Having a Big Impact

Contact:
Santee-Lynches Affordable Housing and
Community Development Corporation
255 Broad Street
Sumter, SC 29150
Ph: 803-436-0020
Fax: 803-436-0003
Email slcdc@ftc-i.net
President & CEO: Luis Rodriguez

Description:
Bracey Shopping Plaza
Fulton & Manning Avenue, Sumter, SC
   OPENED: May 23, 2003
   LOCATION: South Sumter, a 4 square mile area located within the city limits of Sumter, South Carolina, in downtown Sumter, but separated from “downtown proper”    by railroad tracks.
   SIZE: 14,500 sq.ft. of retail space in 2 buildings, one, consisting of 6,500 s.f. and one  8,000 sq.ft.
   COST: $1,162,000.00 includes land acquisition, legal fees, plans & specifications, surveys & permits, appraisals, construction, site work, clock tower, contingency, construction interest, marketing, development expense.
    SOURCES: HHS-OCS PreDevelopment, Santee-Lynches equity, Sumter County, City of Sumter, EDGE Funds, Empowerment Zone Grant and USDA RBEG funding.
    ANCHOR: Family Dollar
    ADJACENT COMMUNITY: The Plaza is strategically located directly across the street from the South Sumter Resource Center that provides an after school program, two adult education classes, a COPS substation, a branch of the public library, and elderly club with 80+ members and a Youthbuild Program.
    EMPLOYMENT: 25 permanent jobs created.
    ANNUAL EVENT: Fall Festival

Background:
Bracey Plaza is located in South Sumter, a section of the city separated from downtown proper by railroad tracks and accessed by a bridge over the rail yard. Before integration, South Sumter was a viable, bustling thoroughfare with thriving, black owned businesses. The business district offered access to a variety of essential goods and services: grocery and clothing stores, restaurants, beauty parlors, shoe repair, florist, doctors and dentists, a tailor and a music school. After integration, the African American population crossed over the bridge to shop in white establishments, but the white population would not shop in African American establishments. Businesses in South Sumter slowed, finally failed and closed. In 1991 the area’s only grocery store moved out of South Sumter and residents faced a six mile trip in a taxi across the tracks to the nearest grocery store and also to the nearest pharmacy, and doctor. The 2001 Sumter Kids Count Report shows that children and the elderly are the groups most seriously affected by the poverty of the area. Decades of disinvestment has resulted in dilapidated housing stock, and lower than median income rates and educational achievement.

Opportunity:
South Sumter is an area with serious economic problems and enormous growth potential. South Sumter’s census tracks were designated Empowerment Zones in December 1998. The South Sumter Revitalization and Development Plan, as part of the city of Sumter’s analysis of the area, noted in 1990 that the only thriving businesses along South Sumter’s main thoroughfare, Manning Avenue, were a liquor store, a small restaurant and a funeral home. The study also identified a high number of vacant and/or abandoned deteriorating residential structures as well as deteriorating or dilapidated occupied residential units.

Santee-Lynches CDC was formed in 1992 and was the first CDC to receive CDE certification from the South Carolina Department of Commerce and the US Department of Treasury. Its stated mission is “to enhance communities by providing good quality, safe, decent and affordable housing and other forms of economic opportunity for low-income individuals in the Midlands of South Carolina. Its goal is to empower individuals, assisting them in attaining wealth and financial independence.

The CDC sees an opportunity for successful retail and benefits to the local community that include the creation of 30 full-time jobs, as well as providing needed goods and services at reasonable prices to support families in the area.

The Catalyst
Isaac Bracey for whom the Plaza is named was the first president of Santee-Lynches CDC. He was a young family man well versed in the potential for community development who identified the need for appropriate retail in the community. He began the development project but passed away unexpectedly. His work inspired the community to go forward with plans for the Plaza under the direction of Luis Rodriguez, Executive Director/CEO of Santee-Lynchese CDC.

Bracey Plaza
The objectives of Bracey Plaza are to create needed employment for low to moderate income residents of South Sumter, provide needed goods and services to the this underserved community, and create hope, increase self esteem and improve the quality of life of the people of the community.
Building 1 is completed and houses the Plaza’s anchor tenant, Family Dollar discount store. Six local entrepreneurs have started businesses that include hair cutting, small restaurant, tax preparation.

The parking lot is well lit and the plaza is fenced.

The front portion of the Plaza parking lot contains a built in 18 foot tall Clock Tower with patio seating around its base in a small gathering area or park. The patio seating area that surrounds the base and provides a gathering area for community meetings or socializing. A city bus stops at the clock tower.

Entrance to the Plaza is on Manning Avenue where a pylon sign is erected with the Family Dollar and Bracey Plaza names.
The Annual Fall Festival attracts crowds with music and food.

The Deal
Total cost of Bracey Plaza $1,162,000
Sources:
Pre-Development HHS-OCS $75,000
Development Funds include: Santee-Lynches Equity Injection $127,000, Sumter County $100,000, EDGE Funds @3% $500,000, Empowerment Zone Grant $150,000, City/County $85,000, USDA-RBEG $200,000 for at total of $1,162,000.
Uses:
Land Acquisition $85,000. Legal Fees $10,000, Plans and Specifications(architectural engineering) $37,000, Surveys and Permits $2600, Appraisals $5,000, Construction Costs $744,250, Site Work $79,000, Clock Tower $24,000, Contingency (3%) $41,750, Construction Interest (8 months @ 3%) $10,400, Marketing $10,000, Development Expenses (10%) $114,000 for a total of $1,162,000.

The Developer
Santee-Lynces CDC is an experienced and award winning housing development specialist and partner with USDA Rural Development, South Carolina State Housing Finance and Development Authority, Rural LISC, and Sumter National Bank. The CDC has co-developed multifamily units, and produced home ownership opportunities for low to moderate income individuals through Lease/Purchase and Purchase/Rehab/Resale Programs as well as providing emergency rehabilitation for households of elderly residents. Santee-Lynches has received HUD’s “Best Practices Award, and the South Carolina State “Creative Partnership Award.”

Bracey Plaza is the CDCs first retail development. Santee-Lynches strategy was to access grants and low interest rate money to lower the cost of construction. The savings are passed on to the community by leveraging reduced price per square foot rental fees with tenants willing to hire low income individuals and offer reduced prices of goods and services thus increasing volume of sales.

The developer also sees Bracey Plaza as providing an opportunity for new business start-ups as well as established businesses.