Category Archives: CHS
All things Charleston
The long-awaited sale of a waterfront site downtown on Concord Street has closed to Lowe Enterprises where they plan to build a 225-room luxury hotel that should open in 2020. The price was $38M. The Post and Courier has the story here.
Southeastern Grocers of JAX FL announced it will close the 46,000 SF Bi-Lo at 1440 Ben Sawyer Blvd. in Mount Pleasant in January, their 3rd such closure announcement for CHS in the past year. It closed the Remount Road store in April and their downtown Meeting Street location in September. Warren Wise of The Post and Courier has the story here.
Dave Munday of The Post and Courier reports that the Charleston zoning board may be tapping the brakes on new hotel development in the city center with the decline of a request for a new 50-room hotel at 36 N. Market Street downtown.
After recent wins such as Volvo and Mercedes and Boeing, Charleston remains strong as a choice for new manufacturing according to a national industrial site selection expert; among CHS’ strengths:
- Trident Technical College collaboration with the private sector and the nation’s best workforce training programs
- Low taxes and less regulation interference
- Quality of life
- Right-To-Work state, with only 2.1% workers unionized
Charleston ranked #3 among 24 “hot-manufacturing markets” studied by Princeton, NJ-based The Boyd Co. that studies site selection opportunities for companies nationwide.
Another Boeing supplier, Safran Landing Systems, is investing $7M in the region and hiring about 15 new jobs as they supply wheels and brakes for the main landing gear. David Wren has the article here for The Post and Courier.
The Post and Courier provided a year-end 2016 overview. Some highlights:
- Update on Mercedes-Benz $500M plant that will hire 1,300 to build the Sprinter vans in Palmetto Commerce Park on a plant that will cover 75 football fields, plus the new Volvo plant in Berkeley Count
- Boeing opened its 787 DreamLiner paint hangar of 360,000 SF that can paint two jets at the same time
- Travel + Leisure praised the city again – voting it the world’s best city while Conde Nast Traveler readers voted it the friendliest city in the world
- Over 16,200 home sales thru November, plus about 5,500 apartment units under construction with rents rising 3.3% (to $1,113) and occupancy at a stellar 94.4%
- New grocery retailers in the metro area include a new Fresh Market, a new Lowes Foods, both in Summerville, and Germany’s Lidl planning a site in Goose Creek
- Blackbaud began construction on its new 360k SF headquarters in a new $154M campus for the software maker where it will hire an additional 300 over the next five years
- AT&T and Home Telecom will provide gigabit speed Internet in some suburban areas
The Post and Courier highlighted the local economy’s 2016 headlines in a single article; among the highlights:
- Update on dredging of CHS harbor with the start of a single dollar from President Trump
- Boeing’s new 787-10, made exclusively in N CHS, will be a major focus of the manufacturer forward as the larger plane replaces the shorter version 787-8 made in Seattle
- More changes at CHS airport with a focus on parking to handle the increased volume
- A strong housing outlook to handle the 35 newcomers a day moving to the region
- A tightening labor market amid the 3.4% unemployment rate, the lowest since 2000
- New retailers including member-clubs such as our first BJ’s Wholesale, a Costco in Mount Pleasant, the region’s second, and another Sam’s Club, this one in Summerville
- More hotels, including the new Hotel Bennett at Marion Square downtown with rooms starting at $500/night, and another dozen hotels approved or under construction – just on the downtown Peninsula
The Post and Courier noted that WalletHub’s list of cities that have seen the best recovery since the Great Recession ranked N CHS at #21 nationally, of 505 cities across the US based on 18 key economic indicators. Only the city of Charleston (#27) and Columbia (#84) made the list from SC.