Jul
25

Over 2,200 Apartment Units Planned for Metro Charleston

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In a break from the rest of the real estate industry, the apartment business in Charleston is busting out of the doldrums.

At least 10 new multifamily developments with a combined 2,200-plus rental units are on the drawing board throughout the region as investors start coming off the sidelines after a prolonged hiatus.

Not all of the projects will spring from the ground anytime soon, but experts said the most financially feasible deals are likely to get done over the next two to four years.

‘The difference between now and five years ago is that the lenders are really going to control how much is developed,’ said Don Evans of Evans Rivers & Co., a Charleston-based real estate investment advisory firm. ‘It’s going to be lot more conservative.’

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