A proposal to bring a multi-million dollar boutique hotel and restaurant to downtown Florence is exciting news for many downtown business owners and those working on revitalization efforts.
City officials are proposing an incentive package that could bring the $5.6 million hotel into the downtown area at the site of the old Cosmos building at 126 W. Evans St.
In addition, the plans would move Victor’s restaurant from its current location on South Irby Street to the bottom floor of the hotel.
Because of its prospective location directly across from the Francis Marion University Performing Arts Center and in the middle of downtown, many business owners and revitalization officials said they hope it will serve as a catalyst for growth and investment.
One of those hoping for the changes is Florence City Councilman Steve Powers, who also owns S&W Printing on South Irby Street, less than a block from the site of the hotel.
“Now we’re seeing the private sector come in and saying things are looking a little bit better, let’s look at some of these other projects,” he said.
Powers said there has been an influx of public investment in the form of the Drs. Bruce & Lee Foundation Library, the new Florence Little Theatre and the FMU Performing Arts Center.
What Powers felt was missing, though, was private investment that would encourage other possible entrepreneurs to take a chance on the downtown area.
“These are the types of projects that are going to stir the type of development downtown from larger than this (the hotel project) development, and smaller,” he said. “People are going to see what’s taking place and they’re going to say, we need to go ahead and get started.”
Florence Downtown Development Corp. President Tom Ewart agreed.
“What I think we'll see now is an evolution that will spread with the private sector,” he said. “Once there’s a catalyst, then other folks will come in and invest in properties adjacent to it (the hotel), next to it and across the street and we can move forward with the process.”
Ewart said though he feels Florence could ultimately see dramatic downtown improvements because of the hotel, he feels that the journey will not be a short one.
“I think it’s a 20-year take, it really is. You’ve got a city that is looking toward the future,” he said.
Both he and Powers agree a big piece of the puzzle is coming up with incentives that would not only be available to the developers of the hotel, but also to other aspiring business owners.
“We have people in our leadership in our city and in our county who see the big picture and we're putting the pieces in place that will take our community forward,” Ewart said.
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