Close to downtown ✅, walk to restaurants + work ✅, pool ✅, fitness center ✅. These are all reasons why people are moving to urban areas. (Downtown Cola residents went from 1,250 ➡️ 7,000 in the past two years.)
🏡 But how can Cola house this booming population all moving to one location? From 2013 to 2016, 2,100 multi-family housing units were built, 80% now occupied by students.
🌆 Sola Station – a $58 million riverfront project with 339 multi-family apartments – is another solution to the ongoing movement. These apartments are snagging the attention of both millennials + baby boomers. As of now, 3,600 more units are proposed to be built in Cola, mostly in the Central Columbia area.
It’s no doubt demand is rising for more spaces like Sola Station (rental rates are expected to ⬆️3.0%-3.5% a year through 2018), but Cola is accepting the challenge with more projects like The Edge on Assembly St. (next to Richland Library) + Kline City (on Assembly + Gervais Streets).
