USC's private real estate institution, the Development Foundation, is planning to make "strategic" moves on the downtown Columbia campus, The State reports.
The foundation, according to executive director Russ Meekins, is going to buy almost a half acre of property currently occupied by Sandy's Famous Hot Dogs on the corner of Main and College streets. The purchase is under contract for about $1.5 million.
"We're only here to serve the mission of the University of South Carolina," Meekins said. USC's Development Foundation aims to "acquire properties adjacent to campus" in an effort to strengthen the relationship and collaboration between the college and the city communities.
Meekins also said that the foundation has bought and flipped Columbia real estate at "an unprecedented rate" since its beginnings. The foundation's more recent work is related to a now flourishing Columbia market. Earlier this month, the foundation purchased the USC bookstore property on the same Main Street block for $1.1 million.
Citing the 650 Lincoln residence hall and retail developments at Lincoln and Greene streets as an example of what can be done with purchased land, the foundation will "start exploring" possibilities for the new buys.