Update desk: The Peacock site

By Cindy Landrum  

MAY 23, 2011 11:45 a.m. (0)

When the construction of a downtown luxury hotel and spa came to a halt in 2008, the city found itself in unfamiliar territory.

It was the first time a project had gotten out of the ground – concrete pillars and rebar still stand at the corner of McBee Avenue and Spring Street – and stopped, said Nancy Whitworth, the city’s economic development director.

“We’ve had sites cleared and projects stopped, but nothing where this kind of investment has been made,” Whitworth said. “There’s a lot of money in the ground. It doesn’t look like much, but there are millions of dollars invested.”

Developers Grant Peacock and Mark Kent had planned a 12-floor hotel and spa they named the Peacock.

The national credit crunch halted the $65 million project.

While Whitworth acknowledged the site is a negative on downtown, she said the city has not considered ordering the developers to remove the concrete pillars and rebar.

Grant Peacock would not comment on plans for the site.

The site is being used as a staging area for construction of the CVS pharmacy on Main and McBee.

It was also used as a staging area for the renovation of the building that houses the Carolina Ale House on Main Street.

Whitworth said the Peacock property could support apartments or office development.

She said there is a demand for downtown apartments and financing is easier to get for apartment buildings than hotels.

Whitworth said the developers have incentive to get something going on the site.

“They don’t like it either,” she said. “We’re trying to make something happen there. We could be punitive, but we’re trying to figure out how to get something happening there. That’s what we both ultimately want.”