Greenville city leaders and development officials gathered to break ground for a new student-housing facility that includes retail space.
Mayor Allen Thomas and members of the Taft Family Offices attended the groundbreaking at the corner of Evans Street, Reade Circle and Cotanche Street Tuesday morning.
The new ECU student-housing facility will have more than 580 beds, and will include parking for both residents and customers of the stores inside the building, development officials said.
Mayor Thomas said he's excited about what the project will bring to Greenville.
"It's a $40 million investment here, right in the core of the city direct, probably about $100,000 multiplier effect, where it will bring jobs and opportunities right in the core of the city, which we definitely need," Mayor Thomas said.
"I think Greenville has so much potential, and I think this project capitalizes on that. And hopefully, it instigates future development," said Michael McCarty, director of development for Taft Family Offices.
The project is expected to take two years.