River West SC Fund 2016
In 2016, the Fund acquired 98% of West 123, LLC, which owned the River West, SC property. River West, situated on over 200 acres off US Highway 123 in Greenville, South Carolina, is truly a unique asset due to its close proximity, only 3 miles, to thriving Downtown Greenville along with its existing development entitlements.
River West was the largest contiguous tract of land available within ten miles of Downtown Greenville, offering over 1/2 mile of frontage along US Hwy 123.
This parcel, with its rolling terrain, standing groves of Birch trees, access to the Saluda River and amazing views, was an ideal setting for a planned residential or green space development. There are two man-made bodies of water on the property that not only assist with storm water management, but also provide aesthetically pleasing gathering spots and parks for future residents. Its creeks, ponds, waterfalls, and Saluda River frontage offer numerous recreational opportunities. From several points on the property, one can take in views of Table Rock State Park and the surrounding mountains. The mountain views, beautiful trees, and rolling hills are ideally suited for both single family and multifamily residential development.
Due to its former use as Mill Stone golf course, there are more than five miles of golf cart paths that lent themselves nicely to an overall pedestrian network for the community and encourage residents to get out and enjoy up to 200 acres of planned park and green space.
Despite the great development potential of this entire property in growing Greenville, the members of the Fund voted for a conservation focused approach, and a permanaent conservation easement protecting the majority of the land was recorded in late 2016. The Fund also retained approximately 15 acres of buildable residential lots on the overlooking ridge line for future potential development.
Ethos uses proven strategies to bring together environmentally minded investors and some of the most sensitive lands in the United States, forging partnerships that protect natural resources while reducing the taxation of those in the partnership. The concept is simple yet the moving parts are complex and must be managed to a high standard. Having worked with both Hank and Andrew for many years, I know first-hand the quality and thoroughness of their work, but more importantly I know who they are as people. They don’t deviate from the high standards set for each project and are philanthropic to the core. Engaging the Ethos conservation team for your planning allows you to be a part of something much larger than reduction of your tax burden.
Conservation easements can have significant tax implications, in addition to environmental benefits. Hank Didier and Ethos have the tools in place to ensure sound easement valuations, making charitable contributions of conservation easements a solid tax planning strategy for some individuals.
Conservation easements (CE) are an important tool in achieving objectives for protecting biological diversity, maintaining ecological linkages and protecting water resources. CEs assure perpetual protection of the land and privately-implemented natural resource management.