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commercial construction

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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commercial construction

Charleston Office Market and Construction Activity Remains Strong in 2016

By commercial construction, Commercial Space

The first quarter of 2016 started off steady after a very active, historic year for the Charleston office market.  2016 continues to record high rental rates, declining vacancies, and the strongest commercial construction activity in recent years, according to the Collier’s International “South Carolina Research and Forecast Report Q1 2016.” Vacancy Rates Show Steady Decline Vacancy rates remain steady at 7.8 percent in the local office market, down from 10.5 percent a year ago.  Leasing activity has been slow due…

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commercial real estate

Charleston City Council Weighs Temporary Commercial Real Estate Hotel Development Ban

By commercial construction

Charleston City Council pulled a proposal from its recent meeting to place a temporary ban on downtown hotel projects recommended by new Charleston Mayor John Tecklenburg.  The Council called for a study instead by its city staff during the next 90 days about the commercial real estate matter, with a follow up report due to the Council discussing issues related to downtown development of new hotels. The Post and Courier wrote an extensive article about this issue a day ahead of the…

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