At a time when Charleston is normally gearing up for an influx of visitors from all over the world coming to our lovely city, we find ourselves fighting and working through one of the worst events since the Fire of 1861. Instead of volleying for business, we are working together to serve those in the city who need and provide help. In the past through fire, hurricanes, and other disasters, communities worked together to help each other. The difference —…
The CARES Act has opened the floodgates to free money for businesses. Below are the basic details of loans available to businesses. They are incredible unless regulations apply limits: This new law lets any business borrow 2.5 months of payroll, benefits, interest on loans and lease payments. The loan is made through a bank that is an SBA approved lender and is guaranteed by the SBA. Loan Is nonrecourse to the borrower. The loan is forgiven if you don’t cut…
Mount Pleasant Town Council implemented a building permit allocation system, which would place limits on home construction throughout the 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 88,000 residents,…
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. Bennet Hospitality of Charleston and Atlanta-based Holder Properties are the developers of the Ferry Wharf project. The development is already under construction with a five-story 120,000 square foot office building called Portside. Serendipity Labs of New York preleased 30,000 square feet, and financial firm Merrill Lynch 25,000 square feet…
Newcomers are flocking to the Lowcountry. In fact, Mount Pleasant was recently recognized as one of the fastest-growing cities on the Eastern Coast. The town’s residents have exploded from 48,000 in 2000 to 86,668 in recent estimates. New development has been cropping up all over town. But will the town’s soaring impact fees put a damper on future growth? Mount Pleasant Council Increases Fees Town Council recently increased the impact fees as concerns were raised that development is not paying…
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. Many felt they were being ignored. Little did they know that the development had been approved eight years ago as part of the Vested Rights Act. The State legislature passed the act to allow developments approved before the recession…
Mount Pleasant has established 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 in the state don’t have development impact fees to deal with infrastructure-related costs. “Mount Pleasant is ground zero for all this – I think everyone in South Carolina would agree –…
© 2023 Carolina Services Inc. Powered by 