Business Black Box

Vardry McBee, known as the father of Greenville, was also known
to be generous. According to historical records, McBee gave his
son, Pinckney, 22 acres of land. The younger McBee built himself
a home there—the very first in what is now known as Hampton-
Pinckney, according to Greenville’s website. Hampton-Pinckney
was considered the first “trolley car” neighborhood in Greenville—
highly desirable because of the easy access to Main Street. But as the
city expanded, Hampton-Pinckney was no longer the place to be,
making way for decay and disrepair.
In recent years the historic neighborhood
has seen a renaissance, thanks to residents
like Haro Setian.
When Setian moved his family into a townhome near the
intersection of Mulberry and Pinckney in 2009, demand was
sluggish. Out of 14 townhomes constructed the year before, just
seven were occupied. While he says the neighborhood’s reputation
among long-time Greenville residents was not good, he saw an
area prime for investment. “People from Greenville frankly feared
the area,” he says, “They had perceptions that were untrue about it
being dangerous and crime-ridden.”
Setian, a real estate agent, owns four single-family homes and
one lot in Hampton-Pinckney with three other properties currently
under contract. He also leases office space in the neighborhood.
“I’ve put my money where my mouth is,” says Setian, who sees
increased potential with the city’s plans to create a massive public
park near the Kroc Center and develop Washington Street with
restaurants and retail. The city also purchased Green Plaza Shopping
Center at the corner of Pete Hollis Boulevard and Mulberry Street,
and is relocating current tenants that include ABC Bartending
School and Just Right Barber Shop. Then, they’ll demolish the strip
mall to make room for new development.
For homebuyers, Hampton-Pinckney offers the opportunity to
buy property for a fraction of the price of other neighborhoods that
surround downtown, but the good deals may be fleeting. “You can walk
downtown from North Main, but you’re going to be tuckered out by
the time you get there,” says Setian, “I can be there in 10 minutes.”
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Q4 2013 // Business Black Box
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