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…
The Audubon Society’s Francis Beidler Forest is an 18,500-acre bird and wildlife sanctuary located in upper Dorchester County. The sanctuary is not a place you would find by accident since it is located off a two-lane country road in Harleyville. New industries and residential neighborhoods are beginning to encroach on the edges of the Beidler Forest and the 45,000-acre Four Holes Swamp as new roads and development go up all around it. “This has always been a very rural part…
More and more businesses from startups to established companies are using flexible office space for their employees to provide a lower cost alternative and more user-friendly space to the traditional office setting. Building owners are increasingly embracing the concept of flexible office space and leaving behind preconceived views on leasing office space. They are becoming curators of building community and facilitating workplace experiences. “For owners, dealing with small tenants has never been something that you wanted to focus on,” said…
Developers finally broke ground recently to build a 12-story 219-unit multifamily housing and commercial complex at the former Sergeant Jasper site on Broad Street in Charleston. Construction of the multimillion-dollar buildings, called The Jasper, should be completed by 2020. The Beach Co. is the developer of the upscale project near Colonial Lake. The large commercial building is one of the largest buildings the city’s Board of Architectural Review (BAR) has ever approved. The space will include 25,000 square feet of…
South Carolina’s annexation laws have prevented many cities from growing in an orderly fashion, even though urban areas are the driving force behind the state’s economy. In many cases the current annexation laws favor rural areas due to their longstanding domination in state politics, as well as support of property rights. A bill was introduced this year to reform the annexation laws, but did not go very far in the state legislature. The bill’s sponsor, State Representative Mandy Powers Norrell…
Online shopping continues to transform retail, and is reshaping the real estate market as well. Retailers used to house merchandise in department stores with many floors above the street level, and in most cases had buildings without office space. Now there is a shift, evidenced by real estate investors seeking to have a more mixed-used space. In Manhattan, this trend to edge out retail for office space is becoming more prevalent. Normandy Real Estate recently invested $133 million to convert…
At a recent conference on multifamily development, BMC Investment CEO Matt Joblon predicted big changes in the multifamily housing market during the next two decades. He said “co-living is a real possibility where people are sharing kitchens and common areas and just having bedrooms. I think that will evolve. Things will get smaller and tighter, and it will be more about the experience.” He compared this trend to Facebook where people are looking for a digital connection. He believes that…
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…
South Carolina continues to attract new residents and has remained in the top 10 most popular places in 2017 to move and settle. The state ranks at number 7, a drop of two spots from the previous 12 months according to United Van Lines annual survey of inbound relocations. United Van Lines said that 57 percent of their customers in South Carolina are new residents putting it in the nation’s top destinations for those individuals looking for a new location…
Charleston County’s cost to fix up the former Charleston Naval Hospital continues to go up and become more complicated. Debate among county council members circles around renovating for up to $66 million, selling or demolishing the 10-story building. Charleston County acquired the property last year for $33 million after settling a large lawsuit with a development group with investors that included Donald Trump Jr. The developers had bought the property from the city of North Charleston for $5 million and…
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