Category

commercial development

Development of Popular NoMo Area May Be Victim of Own Success

Development of Popular NoMo Area May Be Victim of Own Success

By | commercial development

A local developer of the upper peninsula hot spot known as NoMo for its north Morrision Drive location, says the area is getting too popular and expensive.  Developer Stephen Zoukis, responded recently to the sale of a 7.2 acre site at 838 Morrison Drive for $9.1 million to a local Mount Pleasant investment firm, and the announcement by the International Longshoremen’s Association (ILA) to sell their property for a likely higher price. Mr. Zoukis told the Post & Courier that…

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New Downtown Condominiums A Rare Development

New Downtown Gadsden Condominiums A Rare Development

By | Charleston SC, commercial development

The new condominium development near the South Carolina Aquarium is a rare project in new residences for the Charleston downtown region.  The construction of the new four-story Gadsden development is near completion, with 76 units to be available at Laurens and Concord Streets by the end of the year.  The $60 million development is one block from the waterfront at Gadsdenboro Park, and features one, two, and three-bedroom units.  The condominiums will start at the low $400,000 and go up…

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Mixed-use Development Spurs Growth in New Retail Stores

Mixed-use Development Spurs Growth in New Retail Stores

By | commercial development

Some developers are building more stores, despite the recent glut in retail space.  Instead of building them in malls, they are developing smaller clusters of retail space in new housing developments, called mixed-use developments. Many young people as well as retirees are looking for cheaper housing in the suburbs, but with an urban vibe and access to restaurants, shopping and offices. These projects are usually joint ventures between a residential developer and a commercial developer who specializes in retail.  The…

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Mount Pleasant Leads the Way on Controversial Development Impact Fees

Mount Pleasant Leads the Way on Controversial Development Impact Fees

By | commercial development, Mount Pleasant

Mount Pleasant is “ground zero” for establishing development impact fees as a way to help pay for the rapid growth in the community. The town is under pressure to find ways to fund development related costs and is at the forefront in the state to establish the impact fees. Most of the counties and municipalities in the state including the three largest cities and Myrtle Beach do not have development impact fees to deal with infrastructure related costs. “Mount Pleasant…

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Charleston Bows Out of Race for 50,000 Jobs

Charleston Bows Out of Race for 50,000 Jobs

By | Charleston SC, commercial development, Economic Growth, SC

South Carolina is a long shot to win the contract for a new Amazon headquarters in North America.  The state has no cities with at least 1 million people, no major international airport or highly developed mass transportation system to meet the logistic demands of Amazon.  Many states and cities are vying to have the opportunity to build the approximately 8 million square foot Amazon campus. Charleston has decided to sit out the race for 50,000 new high paying jobs,…

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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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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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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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State Legislature Considers Tax Breaks for Businesses Investing in I-95 Low Income Corridor

By | Charleston SC, commercial development, SC

Legislation has been introduced for a second year by Orangeburg lawmakers to try to give tax breaks to businesses that use the Port of Charleston, and develop facilities within rural areas close to interstates 26 and 95 interchange. The “Port Enhancement Zone Act,” was sponsored by Senator John Matthews (D-Bowman).  The legislation would allow distribution centers and warehouses built in low-income rural areas to claim a $1,000 tax credit for each job created as a result of this development. The…

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