Judge OKs Bull Street land sale

A state circuit judge on Wednesday approved the sale of the 165-acre State Hospital campus on Columbia’s Bull Street to an Upstate developer in one of the most anticipated and significant land deals in city history.

The $15 million that developer Bob Hughes has offered to pay for the property was ruled as “adequate compensation” by Judge Ernest Kinard Jr. of Camden.

The sale now must be approved by the State Budget and Control Board, which is expected to decide at its meeting next week.

A circuit judge on Wednesday approved the sale of the S.C. Department of Mental Health property on Bull Street to developer Bob Hughes. But more hurdles need to be cleared before development can begin:

• The State Budget and Control Board is expected to decide Tuesday on whether to approve the sale.

• Hughes then has six months to work out a zoning agreement that is satisfactory to him with the city of Columbia.

The S.C. Department of Mental Health, which owns the property, “believes it has answered all the questions about the agreement and believes it is a good agreement and (that it) will be approved by the board,” said the department’s general counsel, Mark Binkley.

Hughes attended Wednesday’s hearing but declined comment about his plans until the sale is approved by the board.

He has offered a total guaranteed price of $15 million for the property, which would be sold as smaller parcels to other developers. He would make payments of between $1 million and $3 million a year for seven years to pay off the $15 million selling price. Mental Health would retain ownership of the individual parcels until they are sold.

In addition, the department would receive 35 percent of any profit from the sale of parcels after the first three years.

Columbia Mayor Steve Benjamin has called the site the largest piece of land in any major city’s downtown east of the Mississippi River. Former Mayor Bob Coble has said placing 165 acres of new downtown development on the tax rolls was akin to “Columbia’s BMW,” referring to the Upstate auto plant.

A 2005 plan called for construction of more than 1,200 homes and nearly 1 million square feet of office and retail space, which would have added significantly to the city’s tax rolls.

Hughes is not bound by the plan devised by Miami develop Andres Duany after a week of public input. But broker Cam Campbell of NAI Avant testified in court Wednesday that it would likely be used as a “baseline” for development.

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