Exciting New Headquarters for Palmetto Citizens Federal Credit Union Set to Transform Downtown Columbia

COLUMBIA — Exciting Changes on the Horizon for Downtown

Have you heard? Columbia is about to get a shiny new addition right in the heart of downtown! The plans for a brand-new headquarters for Palmetto Citizens Federal Credit Union are officially moving forward, and the excitement is palpable. After passing all necessary hurdles during a city committee meeting on September 19, everything seems to be falling into place for this transformative project.

The New Headquarters

So, what exactly are we talking about? This new building promises to be a colossal 100,000-square-foot headquarters, strategically located at the corner of Lady and Sumter streets. It sounds impressive already, right? But there’s more! The design will feature five stories and even includes plans for a parking garage that can accommodate 325 vehicles, ensuring everyone has a place to park when they visit.

For those curious about what’s being demolished, a nearly vacant building will make way for this contemporary structure. The value of the land and buildings set to be cleared is over $3 million, according to Richland County tax records. But don’t worry: the existing Palmetto Citizens building on Washington Street will remain functional until the new space is fully ready.

Community Impact

When we spoke with Palmetto Citizens President and CEO Robert Dozier Jr., he expressed hopes that this project would not only benefit the credit union but contribute positively to the entire downtown area. “We believe that this location specifically can help be transformational to downtown Columbia,” he said. With so much focus already on Main Street and the surrounding areas, having Palmetto Citizens join in could amplify the momentum already building in our lovely city.

But it’s not just about scaling operations for the credit union. This move aims to attract talent from nearby educational institutions like the University of South Carolina, Allen University, and Benedict College. There’s a mutual benefit here: a consolidated workforce will enhance economic activity while providing opportunities for talented students to find exciting job prospects right in their neighborhood!

Enhancements to the Area

There’s also a strong commitment to improve the streetscape. The idea is to enhance the walkability and aesthetics of Sumter Street, aligning it more closely with the vibrant vibe of Main Street just a block away. According to Dozier, “It doesn’t take one very long to know that there’s work to be done,” and they intend to play a part in that revitalization.

Besides the functional office space, the building design includes room for a restaurant with outdoor dining—talk about a great spot to grab lunch! Plus, there are plans for an onsite gym and wellness center, giving employees a fantastic place to unwind and stay fit.

What’s Next?

As for timelines, if everything progresses smoothly, the credit union expects to start tearing down the existing buildings as early as December, with hopes for construction to kick off in spring 2025. The entire construction phase is projected to take between 18 and 24 months, so we won’t be waiting too long to see these great changes unfold!

With 84,000 members and 315 employees already, Palmetto Citizens is looking to grow even further, targeting 500 employees and reaching $2 billion in assets in the coming years. This new HQ is more than just a building; it represents a bright future for both the credit union and the entire downtown Columbia area.

What Lies Ahead

This project is set to carve a new chapter in Columbia’s story, potentially inspiring other businesses in the area to make similar positive changes. The vibe in town is changing, and with developments like these, it’s clear that Columbia is on the rise!

Stay tuned for updates as this exciting journey unfolds. We’ll be here to keep you in the loop about all things happening in our beloved city!