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AC Hotel

Spartanburg, SC (2016)

Spartanburg, SC has historically been known as “Hub City” due to its prevalence of railways.

COMMUNITY IMPACT
  • 130 FTE jobs
  • 216 construction jobs
  • Permanent jobs pay a wage 261% higher than the LIC’s per capita income
FINANCING SOURCES
  • NMTC amount: $10,000,000
  • Total Project Costs: $46,083,422
  • CDE:
PROJECT LOCATION

225 West Main Street

Spartanburg, SC 29306

Project Description

Spartanburg, SC has historically been known as “Hub City” due to its prevalence of railways. The county is also located at the crossroads of heavily traveled Interstates 85 and 26, which has brought suburban growth to the region. But downtown Spartanburg — located miles from the interstates — has struggled to thrive over the years.

In early 2016, NMTC financing supported the construction of a $46.2 million, 114-room full service AC Hotel in downtown Spartanburg, SC. A brand of Marriott, this AC Hotel property will feature a signature AC Kitchen restaurant, fitness center, business center, approximately 2,500 square feet of meeting space, and typical back-of-the-house facilities.

Community Impact: Greenville New Markets Opportunity’s investment supports 130 direct quality jobs, with permanent jobs paying a wage 261% higher than the LIC’s per capita income. To encourage accessibility of jobs to LIC residents, OTO Development, the developer, established an apprenticeship program with Apprenticeship Carolina and the local technical college with a goal of 10 enrollees in the program throughout the 7-year NMTC compliance period. The importance of quality job creation in this community cannot be overestimated, with area Median Family Income 14.24% of the national average.

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