Monthly Archives: April 2014
Our congrats to friends at SWH Residential Partners of Atlanta is seeking permits to build a 280-unit luxury apartment community in Carolina Park, near Roper’s St. Francis Mount Pleasant Hospital. Tyrone Richardson of The Post and Courier has the story.
PeopleMatter has opened a 10,000 SF expansion on King Street adjacent to its year-old headquarters. John McDermott of The Post and Courier has the story.
Liz Segrest of The Charleston Regional Business Journal offers highlights of the CRBJ’s Power Breakfast on Thursday that was focused on mixed-use developments around CHS and how they can help keep our quality of life the #1 reason for population and job growth. Love the comment on “drive til you qualify” for housing in the far suburbs and commuting in to the job, more reason for mixed use developments and communities (e.g., Nexton) that could house both your home and your place of employment.
After two years of pursuing the former Turky’s Towing site at 35 Folly Road, just south of the CHS Peninsula, Flournoy Construction of Columbus GA has closed on the site and begun construction of a 300-unit mid-rise luxury multi-family project. Ashley Barker of The Charleston Regional Business Journal has the story.
US Synergetic is hiring some 130 new persons for one of its division’s new HQs in Fort Mill near Charlotte. Warren Wise of The Post and Courier has the story.
Tryone Richardson of The Post and Courier has an op-ed on the CHS region’s growth of its residential market, leading the state wit a 13.2% median price increase (to $215k) for Q1 2014 vs. Q1 2013, as compared to a 10.4% increase in the Southern Midlands region and 6.9% increase in the Western Upstate. I am not so sure all regions are compared (or available) so be careful with the information. See Tryone’s article here.
Woodfield Investments, a developer of some of Charleston’s finest class A apartment communities, has closed on a site in the Upstate for a new 336-unit community. Our friends at SCREnews.com have the story.
Spring Hill Apartments, a 192-unit community in Goose Creek, sold at $3.4M or about $17,700/unit to a Michigan-based investor and property management firm. It contained 13 two-story buildings completed in 1974; rents are from $580-$750/month and it was about 75% occupied. Liz Segrist with the Charleston Regional Business Journal has the announcement.
In another high watermark transaction, the long-shuttered Cigar Factory sold for a reported $24.18M this week and work is to begin immediately on a $55 million renovation calling for a mix of commercial uses, including offices, restaurants, event space and retail stores, but no residential units as previous developers planned. The 244,000 SF property is on the east side of the peninsula and offers some great water views toward Mt. Pleasant. The joint venture includes a few local notables teaming up with Federal Capital Partners a real estate investment firm out of Chevy Chase, MD. John McDermott of The Post and Courier has the full story on the transaction, the new developer and its plans and the “Tobacco Road” history of the downtown landmark.