Aug
27

Beach Co. To Own Entire 40-Acre Redevelopment Tract

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August 27, 2008

By David Slade – The Post and Courier

The Charleston Water System has agreed to sell a small property in North Charleston to The Beach Company, which would give the company control of the only parcel it did not already own within the 40-acre redevelopment site known as Garco Park.

The gravel lot at Virginia Avenue and Empire Street, covering just under a quarter-acre, was the site of a water tower that was taken down about 20 years ago.

“It’s 100 feet by 100 feet, but it sits at a very important corner,” said Kent Johnson, vice president of The Beach Company. “It’s kind of like a missing tooth.”

The parcel sits adjacent to industrial land that was home to asbestos and rubber manufacturing, where The Beach Company plans to conduct an environmental cleanup and then build a mixed-use development of offices, retail, condominiums and a large grocery store.

Johnson said there is no specific plans for the small parcel Charleston Water System is selling.

“We want to be able to landscape it and incorporate it into the adjacent parcel, which is the loft-condominium parcel,” he said.

The commissioners of Charleston Water System had the property appraised, concluded that it was worth $80,000 and agreed to sell it to The Beach Company for that price plus sale-related expenses, without seeking bids.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.charleston.net/news/2008/aug/27/beach_co_buy_small_land_parcel52089/

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