Monthly Archives: May 2015
A four-story, 103k SF mixed-use development near MUSC that will include 63 residential units is planned for 96-102 President Street. The company appears to be headed by a Myrtle Beach resident and will have three floors of student housing above parking and retail. Tim Keane, the city’s director of Planning, Preservation and Sustainability, says the design is too modern and doesn’t expect it to be approved. Warren Wise of The Post and Courier has the story.
UPDATE – Mr. Keane is usually right on what the city likes/wants. The designers of the project was sent back to the drawing boards, as the Board of Architectural Review was left “uninspired”.
According to a staff report from the Charleston Regional Business Journal, some modest renovations at the North Charleston terminal, totaling a little over $600k, will help the SC Ports Authority to build a 4th crane, some re-paving, electrical work, and demolishing some old rail tracks on the site.
On a related note, SPA handled 1.56M TEUs fiscal year-to-date, up 13.9% from the same period in 2014, and containers volume for April was up 12% from a year ago while the Inland Port in Greer in the Upstate had its highest-ever monthly rail moves.
To quote from the map below, “A 6k home development near Bees Ferry Road, and an even larger development in Dorchester County, and a proposed 4-lane road from West Ashley to Ridgeville, near Volvo’s new plant, should mean more people, more traffic, and some new (and much needed) route options for drivers. Emphasis added by CharlestonCREblog.com That roadway would provide an “enormous relief valve to Interstate 26” according to an official at the Charleston Chamber of Commerce, but the road also has its critics, as do most things involving CHS and development. David Slade of The Post and Courier has the article.
Jupiter Holdings is finally showing its cards for a site it bought years ago at 600 Meeting Street, near the Ravenel Bridge on-ramp in the Upper Peninsula, a plan that would include a 9-story hotel including a 5-level deck. The Starwood flags are reportedly Element by Westin and Aloft. Plans go before the Board of Architectural Review on June 3rd. Allison Prang of The Post and Courier has the story.
A May 2016 story updates the earlier article with an opening date for the dual-flag development – an 88-room Element Charleston Historic Downtown and the 86-room Aloft Charleston Historic Downtown. Both are scheduled to open in 2018.
Part of Boeing’s 2013 second $1.1B capital expenditure announcement for CHS, their new $212M paint facility under construction will add a streamlining process to build and deliver the 787 Dreamliner to customers soup to nuts in N CHS. It will be 10 stories tall and will be able to handle two 787-10s at the same time. Right now, they are built here but fly to Texas to be painted, then returned here to be delivered to customers and final checks. Its all part of a 470-acre expansion Boeing undertook in about 2013. David Wren has the complete story for The Post and Courier.
Toward the end of the article, a chief analyst with Strategic Aero Reseach says Boeing may well try and shift ALL of its 787-related production to N CHS…to further de-risk the program; that may be code for minimizing union strikes and thus delivery interruptions of the long-delayed 787 program, reportedly some 5 years behind in deliveries, but still the most successful selling commercial jet in history.
Local experts in the commercial real estate arena have been voicing this for at least a couple of years, and it is finally coming to roost; with vacancies under 10% for Office, Warehouse, and Retail sectors (and multi-family as well by the way), it is tough to find space for new and expanding tenants. Warren Wise of The Post and Courier brings us an article that points out the lack of space, some new space being built (and with substantial pre-leasing), and lots of jobs continuing to be created with the likes of Boeing, Daimler/Mercedes, and now Volvo that will surely take some of this space. The dilemma is those growing local and regional companies that want to be in CHS and cannot find existing space, that will eventually hamstring the CHS region in terms of new job growth as those regional companies will simply expand elsewhere unless developers (and bankers) get busy and start building…
Warren Wise of The Post and Courier provides a great update on a variety of retail and restaurant openings and closings around CHS, including:
- Ruth’s Chris Steak House opens this weekend at 166 Church Street adjacent to the French Quarter Inn and the Spectator Hotel that will open next month.
- NY-based Roberta Roller Rabbit is adding a second CHS area store, at Freshfields Village, to complement their existing King Street store
- Domino’s is finally coming to Isle of Palms
- Walgreens is nearing opening at King and Calhoun downtown, as well as a free-standing store in Mount Pleasant
- Shuckin’ Shack Oyster Bar opened in Summerville at 114 Central Ave.; its other location is in Wilmington, NC
- Our buddy Will Sherrod at Lee & Associates has leased two more spaces at Pierpont Crossing Shopping Center in West Ashley – to a scrapbook store and a bike shop
- Crescent Olive is opening its second area store, at 40 Archdale Street downtown, off Market Street, adding to its store count in Mount Pleasant and one in Columbia
The retail giant’s grocery concept, Wal-Mart Neighborhood Market, will open its first Lowcountry store in early June, at Red Bank Road in Goose Creek just east of N Rhett Ave. Three other stores are nearing opening – on St. James Avenue in central Goose Creek, Ladson Road in North Charleston, and Dorchester Road in Summerville. Warren Wise has the article for The Post and Courier.
Gov. Nikki Haley will announce today that Volvo has picked a site near Ridgeville, about 30 miles northwest of downtown CHS and just 10 miles or so past suburban Summerville for its first U.S. automobile plant that will create up to some 4k jobs over the next decade. The decision, according to Volvo officials, was based on: access to the Port of CHS, infrastructure, a well-trained labor force, attractive investment environment and experience in high-tech manufacturing. The initial phase will be for a 2k-worker assembly plant with a second phase to potentially double that, but would multiply when suppliers that need to be nearby are included. Dr. Frank Hefner of The College of Charleston estimated the economic impact of the Volvo plant to be about $4.8B. This is all on the heels of April’s announcement that Daimler Chrysler will build a $500M manufacturing facility in N CHS to make Mercedes Sprinter vans, creating 1,400 jobs there, and certainly Boeing’s 2009 announcement to build the 787 DreamLiner in CHS and their 2013 announcement to invest another $1B in their facilities here. David Wren of The Post and Courier has the Volvo announcement.