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Construction

Mount Pleasant Slashes Construction by a Third with Approval of Limits on Building Permits

Mount Pleasant Slashes Construction by a Third with Approval of Limits on Building Permits

By | Construction, Mount Pleasant

Mount Pleasant Town Council implemented a building permit allocation system, which would place limits on home construction throughout the entire municipality.  The Council has wrestled with the decision in the past and finally approved a plan in January to restrict the number of building permits to slow residential growth by a third. New Permit Allocation System Will Contain Rapid Growth Mount Pleasant is the fourth-largest and fastest growing city in South Carolina.  The town experienced rapid growth and now has…

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Vacancy Rates Go Up with New Construction of Office Buildings

Vacancy Rates Go Up with New Construction of Office Buildings

By | Charleston SC, commercial construction, Commercial Space, Construction, Economic Growth, Uncategorized

As demand for new construction continues to grow in the Charleston market, vacancy rates continue to rise according to Colliers International Research & Forecast Q4 2018 Report.  The expectation is that the vacancy rate will continue this trend into the first few quarters of 2019.  This vacancy rate is on the rise primarily due to 11 new office buildings delivered in 2018 that totaled 433,024 square feet of new construction. The Charleston office market has a total of 13,185,388 square…

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New Waterfront Mixed-Use Development on Daniel Island Planned

New Waterfront Mixed-Use Development on Daniel Island Planned

By | Charleston SC, Construction, Design

A new 22-acre development on Daniel Island has been proposed to be built in phases along the waterfront.  River Landing Village will be built at the end of River Landing Drive and Pier View Street and will be a mixed- use development to include 300 condominiums and townhomes, two new public-access piers, and commercial retail space and restaurants along the Wando River. East West Partners, a Colorado real estate company that specializes in upscale residential developments (Denver, Vail Valley and…

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$325 Million Mount Pleasant Development Rises on Charleston Harbor

$325 Million Mount Pleasant Development Rises on Charleston Harbor

By | Charleston SC, commercial construction, commercial development, Construction, Economic Growth, Mount Pleasant, Tourism, Uncategorized

The East Cooper side of Charleston Harbor will soon see the development of an 18-acre parcel that will furnish 1 million square feet of office space, retail, hospitality, and residential space.  The Ferry Wharf development, with views across the harbor of downtown Charleston, is being developed by Bennet Hospitality of Charleston and Atlanta-based Holder Properties.  The development is already under construction with a five-story 120,000 square foot office building called Portside.  The office building is already 45 percent preleased to…

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Contractors Expect Big Changes in Next 5 Years Compared to the Last 50 Years

Contractors Expect Big Changes in Next 5 Years Compared to the Last 50 Years

By | Construction

A recent survey found nearly 67 percent of contractors in the engineering and construction industries believe there will be more change in the next 5 years than the past 50.  The survey, “Managing Risk in the Digital Age,” was conducted by the Associated General Contractors of America Management, along with the consulting and banking firm FMI Corp. It focused on how contractors view risk and their perceptions of how their industries would change in the future. The survey found that nearly…

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Housing Development Plans Approved in Tri-County Area

Housing Development Plans Approved in Tri-County Area for up to 267,000 More People

By | Charleston SC, Construction

New housing development approvals will allow 105,000 new homes with the capacity to house 267,000 more people in the Charleston, Berkeley and Dorchester counties.  The ability to house new residents will push the number of people living in the tri-county area to over 1 million people. The Post & Courier examined the number of homes approved for new construction in the metropolitan area by gathering information from local governments and reviewing development agreements. The new housing construction will economically benefit the…

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Locals at Odds With State Authorities in Mount Pleasant

Locals at Odds With State Authorities About Home Rule in Mount Pleasant

By | Construction, Mount Pleasant, SC

Mount Pleasant residents were shocked when developers broke ground to build a new 269-unit apartment building off of Rifle Range Road.  The town’s residents had been packing Town Council meetings for two years to raise concerns about overdevelopment in Mount Pleasant, and felt they were being ignored.  Little did they know that the development had been approved eight years ago as part of the 2004 Vested Rights Act, which was passed by the State legislature to allow developments approved before…

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The Challenge to Harness Solar Energy in Building Design

The Challenge to Harness Solar Energy in Building Design

By | Charleston SC, Construction, Green Construction, SC

Charleston has over 200 sunny days on average each year, and has the potential to store and harness solar energy as the primary source of power in new building design.  There are several building projects underway to make individual buildings “net zero” in South Carolina. These buildings are designed to produce as much energy as they take in each year. The Net Zero Energy Building is one design approach being used in South Carolina to build highly efficient buildings with…

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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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U.S. Construction Spending Reaches Highest Level in 10 Years

By | Construction

U.S. construction spending rose to its highest level in 10 years, raising economic growth for the final quarter of 2016, according to the Commerce Department (census.gov/construction). Construction spending rose by 0.9 percent to $1.8 trillion, boosted by gains in both the public and private sector investments.  Overall construction spending was up by 4.1 percent from the previous year.  Construction spending in October 2016 was also strong with an increase of 0.6 percent, which prompted economists to raise their gross domestic…

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