Rutledge Building Development

Background
The University of South Carolina (USC) is seeking to contract with a private developer for the lease and redevelopment of the Rutledge Building located at 1429 Senate Street, Columbia, SC. The building, owned by USC, will be made available through a negotiated long-term ground-lease. The goal is to repurpose the building for residential occupancy while generating revenue for the University. Small and minority participation in the project is strongly encouraged.

Work Details
The selected developer will be responsible for designing, constructing, financing, operating, and maintaining a repurposed Rutledge Building suitable for residential use. The building has 13 floors above grade and a basement level, with each floor plate approximately 10,000 GSF.

The proposal should include plans for residential apartment units, common areas, amenity spaces, and necessary site improvements such as parking capacity. Compliance with city zoning codes and state building codes is mandatory. The development must not exceed a 50-year ground lease term and should include provisions for annual rent based on fair market value or a percentage of gross rental revenue.

Period of Performance
The contract period will commence upon execution of the ground lease and is expected to last up to 50 years. Specific timelines for construction and occupancy will be outlined in the proposal.

Place of Performance
The project will be performed at the Rutledge Building located at 1429 Senate Street, Columbia, SC 29208.