By Mike Fitts

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GREENVILLE -- Developer Bob Hughes has submitted a revised proposal to buy Columbia’s massive Bull Street property, attempting to address the concerns that prompted the S.C. Mental Health Commission to spurn his earlier bid.

The latest proposal, made in the past week, moves toward addressing the commission’s concerns, according to Mark Binkley, counsel for the commission. Binkley said he is still hopeful that an arrangement for the sale with Hughes can be worked out this summer.

The commission had wanted more certainty of its revenue than was provided in the original proposal, which it rejected earlier this summer. It was uncomfortable with some of the financial aspects of the deal that were provisional based on the project’s success, Binkley said.

No possible price for the Bull Street campus has been discussed publicly. The final price has been a key issue. The parties involved worked to agree on a price that would be supported by an independent appraisal, he said. Appraisals on the property’s value came in higher than the parties involved had expected, Binkley has said.

Proceeds from the sale of more than 160 acres on the mental health campus are to benefit the agency’s clients. Once the commission approves the sale, the deal must be reviewed by a supervising court to ensure that a fair value for the property has been reached on their behalf. Should that be accepted, the state Budget and Control Board must OK the sale.

Hughes is a Greenville developer who has been a major participant in the revival of that city’s downtown. He spearheaded projects such as the mixed-use River Place development, which sits above the Reedy River, and the Next Innovation Center, a business incubator including 24 condos that is being completed now.

The Bull Street tract is bordered roughly by Calhoun, Bull and Harden streets and Colonial Drive. Most of its 50 buildings now are unoccupied. A development agreement with the city of Columbia will be necessary before the project goes forward.