City, Trinity Partners outline plan to market Washington Square and Bull and Taylor

Spencer, a Trinity Partners representative, told the City of Columbia Economic Development Committee that Trinity and city staff have developed a targeted marketing plan to sell two downtown, city-owned properties — Washington Square and Bull and Taylor — and aim to "go live" with listings Oct. 1 and complete a six-month discovery and underwriting period that would conclude around April 1.

The plan, presented to the committee during a scheduled meeting, would market the properties on commercial platforms including CoStar and LoopNet, use a combination of virtual tours and in-person site visits, and pursue a targeted outreach to buyers the presenters identify as aligned with the city’s growth strategy. "We're combining our expertise and our resources at the city and at Trinity Partners," Spencer said, describing a coordinated approach that includes marketing, financial modeling and professional underwriting.

The properties proposed for disposition are downtown Washington Square — which currently houses business licensing, planning and development offices among other city functions — and Bull and Taylor, which includes a police training facility and some fire department offices. Spencer said Bull and Taylor comprises about one full acre at a busy downtown intersection.

Why this matters: committee members said the sales could influence downtown redevelopment, future property tax revenue and the character of Main Street and adjacent districts. A member of the committee asked staff to model the expected property-tax and secondary economic impacts of different development scenarios, including estimates of secondary and tertiary benefits to nearby retailers and restaurants.

Key elements of the proposed rollout

- Timeline and outreach: Staff will spend August and September finalizing a working framework and marketing deliverables. The team plans an Oct. 1 public launch, a six-month discovery and underwriting period through March, and a target date of April 1 to have a preferred buyer identified and underwriting completed. Spencer described the April date as a target, not a legal deadline: "it's not really a hard timeline. It's really more of a self, self given goal," he said.

- Marketing and materials: The city and Trinity plan a co-branded pitch book, video assets, renderings and a proposed virtual tour of Washington Square so remote investors can review the space. Spencer said renderings and elevations used in earlier Project Catalyst presentations were produced by Todd Martin and his team at Citi.

- Due diligence and vetting: The presenters said they will develop property-specific financial models, engage professional underwriting services rather than rely on internal spreadsheets, and work through a centralized intake so potential buyers follow an organized review process rather than ad-hoc outreach.

- Community engagement: The team plans community "roadshow" events and outreach to the Main Street district, the chamber and other local partners once marketing materials are finalized.

Lessons and process changes

Presenters said the proposed process reflects lessons learned from the earlier disposal of 2221 Devine Street, which they described as having lacked a formal, centralized intake and led to disparate offers and staggered conversations. The new approach intends to give every potential buyer a fair and consistent review process and a single point of intake; Spencer said proposals will start with staff (he and Ryan) and then proceed up the chain as needed.

Committee discussion and next steps

Committee members emphasized measuring success by economic, fiscal and community impact, not just sale price. One committee member asked staff to produce property-tax modeling and projections of secondary economic benefits. Presenters said they will finalize marketing deliverables, build out financial models for Bull and Taylor and Washington Square, and return to the committee with updates and specific offers as they are received.

Votes at a glance

- Approval of minutes: The committee approved the minutes by voice vote after a motion and a second; members answered "aye." The transcript does not record the mover, seconder or recorded vote tallies.

- Executive session motion: Councilmember Kevin Brown moved that the committee enter executive session "for discussion of negotiations, consent to propose contractual arrangements pursuant to SC code 34 78 to economic development partners, and discussion of matters relating to the proposed location expansion or provision of services encouraging location or expansion of industries or other businesses in the area served by the public pursuant SC code 34785," citing multiple active projects (Project Vulcan, Project Senate, 2725 Main Street, Capital City Ballpark, Project WF). The motion was seconded and approved by voice vote; the transcript records an "aye" vote but does not list individual vote tallies or the name of the seconder.

The committee moved into executive session after the vote. Staff said they will return with updates on marketing, models and any negotiated proposals as appropriate.