Category

commercial construction

Sgt. Jasper Apartments Finally Breaks Ground

Sgt. Jasper Apartments Finally Breaks Ground

By | Charleston SC, commercial construction, commercial development

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…

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Big Changes Ahead for Multifamily Housing

Big Changes Ahead for Multifamily Housing

By | commercial construction, commercial development, commercial real estate

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…

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Volvo Cars Campus Fueling Speculative Development in Berkeley County

Volvo Cars Campus Fueling Speculative Development in Berkeley County

By | Charleston SC, commercial construction, Economic Growth, Industrial Property, SC

A Spartanburg developer is the latest firm to capitalize on the industrial growth expanding along the Interstate 26 corridor in Berkeley County.  The Upstate firm hopes to build one of Charleston’s largest distribution centers in the region. Johnson Development Associates has filed a permit application with the Army Corp of Engineers to fill 8.2 acres of wetlands at a 91-acre site in Jedburg.  The 829,000 square foot speculative building would be built on the eastbound side of I-26 near the…

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U.S. Economy Strong as Construction Spending Remains High

U.S. Economy Strong as Construction Spending Remains High

By | commercial construction, Economic Growth

  The U.S. Commerce Department reports that during the last quarter of 2017, U.S. builders spent 0.8 percent more on construction projects, for a fourth consecutive monthly gain. This is considered an all-time high of $1.257 trillion in November, 2017, with an increase of 2.4 percent since the previous year. Private construction spending was also up by 1 percent in November 2017 hitting an all-time high. The increase in construction spending and a separate robust economic report from the manufacturing…

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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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Construction Boom Overwhelms Planning Agencies

By | commercial construction, Construction

The Charleston area is experiencing a construction boom across the tri-county area, with construction cranes and bulldozers being seen all over the Lowcountry.  New commercial, industrial, and residential buildings are being built in downtown Charleston, across the river in Mount Pleasant, and up the Interstate 26 corridor from North Charleston past the Summerville area.  The growth in building construction has led to a huge increase in workload for city planners. Municipal planning offices across the Lowcountry are reporting historically high…

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New Construction Booming Along 526 Corridor

By | Charleston SC, commercial construction

Office building construction is booming along the Interstate 526 corridor, which connects Mount Pleasant to West Ashley. There are a total of 18 buildings that are immediately accessible to the interstate located on Daniel Island and North Charleston. These two areas have seen the most development, the lowest vacancies, and the shortest leasing period when a new building is completed, according to the 2016 third quarter “Colliers International Research & Forecast Report” on office buildings in the Charleston region. The…

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Influx to Charleston Spurs Multifamily Development

Influx of Millennials and Empty Nesters to Charleston Spur Multifamily Development

By | Charleston SC, commercial construction, Economic Growth

The growing population in Charleston, Berkeley and Dorchester counties has resulted in these areas becoming one of the fastest growing regions in the country. The growth in employment opportunities and the high quality of life continues to attract an average of 35 new residents a day to the Charleston metropolitan area, according to a recent report by Colliers International. More than 200,000 people have moved here since the year 2000, as job opportunities have grown by 28 percent during this…

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Mixed Use project planned in Charleston, SC

Massive Undertaking for $1 Billion Mixed Use Development on Upper Peninsula

By | Charleston SC, commercial construction

Developers of a $1 billion mixed use project announced in May on Laurel Island, just off Charleston’s upper peninsula, are seeking input from the community on its plans to develop the 160 acre site. The Lorelei project is at the end of Romney Street and calls for retail, waterfront restaurants, hotel, office space, upscale apartments, and a gourmet food hall and an entertainment venue on the water.  The project developers envision a walkable community and plan to include gathering spaces,…

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Downtown Historic Facility to Become Mixed-Use Development

Downtown Historic Storage Facility to Be Converted to New Mixed-Use Development

By | commercial construction, Commercial Space

A new mixed-use development is in the planning stages at the site of AAA Downtown Storage, a 294 unit storage business.  An Ohio developer and a local real estate investment firm have bought 12 parcels of land surrounding the historic storage facility at 44 Line Street for $8.7 million. The new development will extend to Sheppard, Meeting and Line streets and an old railroad line. The developers hope to build new apartments and businesses with open spaces, on the mid-peninsula…

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