Cross Hill Apartments

Columbia, SC

Investment Highlights

Cross Hill Apartments is a 184 -unit multifamily apartment community in Columbia, South Carolina. Located near major employers and a military base, the community features one, two and three bedroom apartments.  Mature landscaping creates a neighborhood feel within minutes of upscale retail and easy access to major transportation routes.  Cross Hill Apartments is the result of combining two previously separate apartment communities directly across a small street from one another: Bloomwood Apartments (72 units) and Hampton Park Apartments (112 units). Bloomwood Apartments was acquired in early 2018, followed by the acquisition of Hampton Park Apartments in 2019.  The combined purchase was $6.25 million ($34,000/door). Cross Hill is located in an affluent, rapidly gentrifying area of Columbia. It is a block away from a Whole Foods, Ulta Beauty and many quality retailers at the intersection of Devine Street and Cross Hill Road.

Aerial photograph indicating the location of Cross Hill Apartments, surrounded by retail developments and an educational institute
Retail (Areas 1–4): 1. Crossroads Commons: Food Lion, Staples, Papa John’s Pizza, Another Broken Egg Cafe. 2. Cross Hill Market: Whole Foods, Midwood Smokehouse, Ulta Beauty, Athlete, Bojangles, Duck Donuts. 3. Rosewood Crossing: Michael’s, Marshalls, Kay Jewelers, Jersey Mike’s Subs. 4. The Shoppes at Woodhill: Target, Bed Bath & Beyond, Starbucks, Panera, World Market. Education (Area 5): Midlands Technical College – Beltline Campus.


Evergreen recognized the potential synergies of combining both properties and the significant value that could be unlocked by rezoning the property.   Achieving the desired zone change created the opportunity for Evergreen to restore 32 down-units, previously slated for demolition, to operational status.  Implementing an extensive interior renovation and amenity-addition program catalyzed a significant increase in net operating income.  Amenities added included a new community room, fitness center, playground, and dog park. Additionally, a new maintenance shop was built, which freed up two additional units for rent.


The net result of combining the two properties, rezoning and restoring units,  adding amenities, and upgrading interior finishes has yielded a 543% increase in NOI since 2019.

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