Monarch Private Capital – an impact investment firm that develops, finances, and manages a diversified portfolio of projects generating federal and state tax credits – announced its impact across South Carolina through nearly 100 investments spanning Anderson to Rock Hill and Greenville to Charleston.
Using historic tax credits, mill tax credits, abandoned building tax credits, and low-income housing tax credits, Monarch has fueled transformative projects reshaping communities while preserving cultural heritage and driving economic growth.
These tax equity investments drove $1.75 billion in development, created over 20,000 jobs, delivered 3,000 affordable homes, and generated $5+ billion in total economic impact, including revitalizing historic textile mills and landmarks to building affordable housing communities.
These are some of the projects that were done across South Carolina:
1.) Drayton Mills – Spartanburg: A flagship redevelopment of a historic textile mill into a vibrant mixed-use space for living, working, and dining.
2.) Cotton Mill Commons – Simpsonville: A revitalization project transforming a historic mill into a hub for community engagement, offering residential, retail, and event spaces.
3.) Lowenstein Building – Rock Hill: A centerpiece of Rock Hill’s Knowledge Park, blending history with modern innovation.
4.) Beaumont Mills – Spartanburg: A historic mill repurposed into a dynamic mixed-use space, preserving its heritage while fostering economic and cultural activity.
5.) Brandon Mill – Greenville: A historic mill tied to Shoeless Joe Jackson, now undergoing preservation and redevelopment.
6.) Converse Mill – Spartanburg: A historically significant mill showcasing the region’s textile heritage.
7.) Inman Mill – Spartanburg: A revitalized textile-era mill contributing to Spartanburg’s industrial growth.
8.) Powell Furniture Building (Hotel Trundle) Columbia: A beautifully restored building in downtown Columbia, now home to a boutique hotel that blends historic charm with modern amenities.
9.) Kress Building – Columbia: An architectural landmark and cultural icon in downtown Columbia.
10.) Curtiss-Wright Hangar – Columbia: A historic aviation site repurposed for modern use.
11.) Smoked Building – Columbia: A stylish redevelopment blending history with contemporary dining and retail.
12.) Rock Hill Powerhouse – Rock Hill: A cornerstone of Knowledge Park revitalization.
And over 30 affordable housing projects reflect Monarch’s commitment to addressing housing needs across South Carolina. Some of the notable examples include:
1.) Villages at Congaree Pointe – Columbia, 240 units
2.) Shockley Terrace Apartments – Anderson, 258 units
3.) Magnolia Terrace – Rock Hill, 156 units
4.) 573 Meeting Street – Charleston, 70 units
5.) Gateway at Charleston – Charleston, 69 units
KEY QUOTE:
“South Carolina is brimming with opportunities to create meaningful change through strategic investments in tax credit programs. By partnering with Monarch, investors can achieve financial benefits while revitalizing communities, preserving historic landmarks, and addressing critical housing needs.”
- George L. Strobel II, Partner, Co-Founder and Co-CEO at Monarch Private Capital
