Rock Hill Economic Development Corp. plans to build a second speculative building at Waterford Business Park in Rock Hill, according to a press release from the organization.
The park, at 1750 Overview Drive, is already home to a previous RHEDC speculative project that was purchased by Beacon Partners earlier this year.
Rock Hill-based Cope Construction will begin building the 40,000-square-foot facility on a 7.5-acre site on Apex Drive in August. The project is expected to be complete in November 2017, according to the release.
Funding for the speculative building will come from a $1.3 million three-year interest-free loan from an economic development loan program run by Santee Cooper, the South Carolina Public Service Authority. After three years, the interest rate will be half of the municipal market data index, according to the release.
RHEDC’s first speculative building will soon be home to Oerlikon Balzers Coatings USA. That project was funded by a $1.8 million loan from Santee Cooper and funds from the city of Rock Hill, RHEDC and York County’s C-Funds for road improvements.