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New Growth on West Coast of Florida Puts Millions at High Risk when Hurricanes Strike

New Growth on West Coast of Florida Puts Millions at High Risk when Hurricanes Strike

By | Construction

The building boom on the west coast of Florida, especially in the Tampa area, put many more people in potential danger once Hurricane Irma shifted to these areas, reports the Wall Street Journal.  Major development has occurred up the west coast during the last few decades in affluent areas in Naples and new subdivisions of middle class homes in Tampa Bay.  Many of these communities are built on filled-in marshland close to sea level and are vulnerable to storm surge…

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Summerville in Position to Experience Rapid Growth in Office Space

Summerville in Position to Experience Rapid Growth in Office Space

By | commercial construction, commercial development, Commercial Space, SC

Summerville is set to experience a rapid growth in office buildings in the Charleston region. The latest analysis from Colliers International Research and Forecast Report states there are several key factors which make the area ripe for growth in office space: The Summerville submarket has an established residential growth market. There is a large supply of residential land available in highly sought after public school districts, which will spur further residential growth. The area already has 2.5 million square feet…

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Charleston City Council Passes New Zoning Laws to Refine Building Heights and Design

Charleston City Council Passes New Zoning Laws to Refine Building Heights and Design

By | Charleston SC, commercial development

The Charleston City Council approved a new set of zoning rules to limit the recent trend in building heights and design that will help preserve the Southern architecture that is unique to the Holy City. Recent trends have led to larger developments across the city landscape, and even with height restrictions have led to more boxy and tall buildings. “You can look at new modern builds, such as the new development at the corner of King and Spring streets, that…

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Foreign Investors Buy $153 Billion Worth of US Homes

Foreign Investors Buy $153 Billion Worth of U.S. Homes

By | Uncategorized

Foreign investment in U.S. homes has surged to the highest level during the last year. Foreign buyers have snapped up $153 billion worth of U.S. residential properties which marks a 49 percent jump from 2015-2016, according to the National Association of Realtors.  Florida, Texas and California drew the most investments from foreign countries.  The huge jump in investment comes as a surprise after a recent slump and the current strength of the U.S. dollar against foreign currencies which makes the…

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Charleston Joins National What Works Cities Initiative

Charleston Joins National What Works Cities Initiative

By | Charleston SC

Charleston Mayor John Tecklenburg announced recently that the city would participate in the Bloomberg Philanthropies What Works Cities (WWC) initiative, as part of a large scale effort to help cities use data and evidence to make city government more effective in its decision-making process.  The city of Charleston is one of more than 200 cities in 48 states participating in the initiative.  Charleston will be able to work with WWC technical experts to build data bases that help it address…

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Summerville Development Boom on the Horizon

Summerville Development Boom on the Horizon

By | commercial development, Economic Growth

Summerville is becoming the place to be with more and more people establishing roots here, and development shifting from the center city of Charleston to the suburbs.  One in three multifamily units built in the last three years have been in such outlying areas as Summerville, Ladson and southwest Charleston. Colliers International’s  Research & Forecast Report  (Q4 2016) shows that Summerville is becoming a coveted region to live in. Since 2014, 936 new multifamily developments have been delivered, with 240…

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Charleston Surpasses Columbia as Largest City in South Carolina

Charleston Surpasses Columbia as Largest City in South Carolina

By | Charleston SC, Economic Growth, SC

The population boom and rapid growth has enabled Charleston to reclaim the number one spot for largest city in South Carolina. Columbia ranked in the number two spot, while Greenville gained recognition as the fastest growing city in the nation east of Texas. Charleston just inched past Columbia for the number one ranking, with 76 more people than Columbia.  The city has an estimated population of 134,385 as of mid-2016. Ten of the fifteen fastest growing cities are located in…

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Small Businesses Drive Growth in Commercial Real Estate Jobs

Small Businesses Drive Growth in Commercial Real Estate Jobs

By | commercial real estate

Commercial real estate jobs have picked up the pace since a hiring peak a decade ago, and the increase is being driven by small companies and secondary markets. Real estate companies are posting single job opportunities, indicating that smaller, more entrepreneurial firms are hiring. This is a new trend according David Funk, managing editor for the 2017 SelectLeaders Job Barometer Report (selectleaders.com) who oversees an in-depth assessment of the current U.S. job market in commercial real estate. “Over the last…

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CEOs Rank South Carolina Number Four for Business

CEOs Rank South Carolina Number Four for Business

By | Economic Growth, SC

For the 13th year CEO’s have ranked how each state fairs as a business friendly environment.  South Carolina ranked number four due to its seventh straight year posting high export sales of 31.2 billion, a $400 million increase over last year, according to the South Carolina Department of Commerce.  Overall the state recruited more than $3.4 billion in capital investments, and created approximately 13,100 new jobs in 2016. The country’s number one exporter, Texas ranked the number one state by…

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Smart Cities: Data Transforms How Cities Function

Smart Cities on the Rise: Access to Data is Transforming the Way Cities Function

By | commercial development

City officials across the country are increasingly gaining access to more and more data about income, crime, traffic patterns, health and safety issues, and parking issues, and transforming the way cities function.  The use of data by mayors and other officials to improve city operations is on the rise and will continue to see big changes says Stephen Goldsmith, a professor of government and director of Innovations in Government Program at Harvard Kennedy School. He recently told the Wall Street…

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