Apr
20

Charleston New Residential Slow but Steady

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Residential development slower but steady

By Kathleen Dayton – Charleston Business Journal

Before the housing market weakened, a number of area developers had plans for major residential projects that would mean hundreds of rooftops along with luxury amenities, neighborhood retail and, in some cases, schools, civic buildings and other services. It seemed the Lowcountry was going to welcome not only new subdivisions but whole new communities as well.

Today, roughly two years since home sales began to sag, commercial construction is picking up steam where residential construction has taken a break.

“We’ve shifted our focus to commercial and have planted some seeds that are going to help validate Carnes as the new downtown business address for this part of Berkeley County,” said Matt Sloane, president of The Daniel Island Co., which is developing a community of about 6,000 homes in the area of Carnes Crossroads on U.S. Highway 176.

During the past 12 months, The Daniel Island Co. has announced plans for a school, a church, a hospital and a shopping center anchored by a Harris-Teeter supermarket at Carnes. Northwood Assembly church and its preschool and elementary school are relocating to Carnes from Rivers Avenue in North Charleston, where their facilities last year were damaged by fire. Roper St. Francis Healthcare chose Carnes for a new medical facility and Charlotte, N.C. developer Lincoln Harris is overseeing the supermarket and shopping center.

Infrastructure is now going in for the first phase of new homes at Carnes.

This article has been shortened due to the length………
LINK TO ENTIRE ARTICLE HERE:
http://www.charlestonbusiness.com/current/14_8/news/11803-1.html
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