The Post and Courier and Warren Wise have a story about the substantial amount of new developments underway and planned in downtown CHS, from housing to retail, hotels, restaurants, office space, College of Charleston and government projects and so on. Amazing. And it is not just talk; it is happening before our very eyes.
Downtown CHS’ former Vendue Inn is being transformed into The Vendue, an art-centered boutique hotel. Abigail Darlington of The Post and Courier has the story.
John McDermott of The Post and Courier provides a story on the CHS hospitality market and the “jewel of the Southeast”, along with talk of a $400/night hotel downtown and, one day, maybe even a St. Regis of a Ritz-Carlton.
In a post first reported at CharlestonCREblog last week, The Post and Courier reports the new student housing development at 400 Meeting Street sold at the wild price of $18.4M, or nearly $450,000 per unit and $115,000 per bedroom. That works out to a sub-6% cap on the year 1 proforma income. Tryone Richardson of The Post and Courier has the story.
The Southend Brewery, at 161 E. Bay Street, sold to a NJ-based firm at a price of $5.5M, or about $337/sf. The Post and Courier has the story here.
The Grand Bohemian, a 50-room boutique hotel in downtown Charleston, had its groundbreaking recently. Our friends at SCRENEWS have the story.
The high-end residential market in CHS has fully recovered as evidenced by the listing of a $19.5M condo in downtown CHS. Even with comps in NYC, this condo on the top floor of the People’s Building downtown is just a listing price, but evidence is solid that the local market for mult-million dollar homes has fully recovered. The Post and Courier’s Tyrone Richardson reports.
An article by Abigail Darlington of The Post and Courier on how Upper King Street is maturing into “Charleston’s first true Midtown”.
The Post and Courier’s Abigail Darlington offers an update on King Street retail/retailers.