Nov
11

Massive Development Planned for North Charleston

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Despite weak economy, two companies team up to build huge commercial complex

November 11, 2008

By Bo Petersen – The Post and Courier

The economy is gasping for air, but a German manufacturer and a Charleston real estate developer will unveil plans today for a huge commercial development near Interstate 26 and U.S. Highway 78.

No tenants have been secured for the North Charleston project, and details were scarce Monday. But the basic plans call for a 300-acre complex that blends big-box retail stores, office space, hotels, restaurants and maybe a supermarket and a movie theater.

It’s being touted as “the largest commercial development in the history of South Carolina,” three times the size of the Centre Pointe complex across from the North Charleston Coliseum, according to a news release touting today’s announcement.

“This is very big. This can carry (city revenues) for another 15 years,” Mayor Keith Summey said, referring to the amount of time it took to develop Centre Pointe.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charleston.net/news/2008/nov/11/development_on_massive_scale61189/
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BLOG NOTE:
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I know of several quality real estate deals (on a much smaller and less risky scale) that have not been able to get financing. While this looks like a great development, who will “show them the money”?
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Mike Dodds
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