Greenville's downtown skyline is set to grow with a $49.7 million mixed-use high-rise apartment tower at 2 Oneal Street, one of the largest single-building residential permits issued in the city this year. The permit, issued on August 26, clears the way for Raleigh-based Clancy and Theys Construction to begin work on the nine-story project, which will add 175 for-rent apartments and 209 parking spaces to the urban core.
What the Permits Show
Permit 2500003522, classified as a new mixed-use commercial project, carries a valuation of $49,741,881. The building's design stacks five stories of Type III-A wood-frame construction on top of four levels of Type I-A concrete construction — a hybrid approach increasingly common in mid-rise and high-rise urban developments where developers seek to balance structural requirements with cost efficiency. The lower concrete levels will house the 209-space parking component, while the upper wood-frame floors will contain the residential units and amenities.
The property owner is listed as S E Allen Enterprises LLC. Clancy and Theys Construction, the general contractor, is a well-established firm headquartered in Raleigh, North Carolina, with a portfolio that spans multifamily, institutional, and commercial projects across the Southeast. The permit status shows as issued, meaning the project has cleared plan review and is authorized to move forward with construction.
Why It Matters
At nearly $50 million, the Oneal Street tower represents a major injection of rental housing into one of the Upstate's tightest urban markets. Downtown Greenville has seen sustained demand for apartments in recent years, driven by job growth, in-migration, and a walkable urban environment that continues to attract residents and employers alike. The 175-unit count makes this one of the larger single-project additions to the city's rental inventory in recent memory. Its location on Oneal Street places it within close reach of Main Street and the broader downtown district, where vacancy rates have remained low. The project also signals continued confidence from out-of-state developers and builders in Greenville's multifamily market, even as construction costs and interest rates remain elevated nationally.