Jun
05

Charleston to Get First Residence Club

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An Ohio-based real estate company purchased the Restoration on King and is changing it to become Charleston’s first residence club.

Jeffrey R. Anderson Real Estate purchased the property and has renamed it the Residences on King. The company primarily focuses on high-end retail spaces, but expanded its portfolio to include residence clubs after the market for retail took a dip.

“This is not our normal, but it’s still real estate,” Jeffrey Anderson, CEO of the real estate company said, noting that his company currently is constructing a hotel in Cincinnati.

Anderson said he purchased the property after its owners had been actively seeking buyers. The property was originally renovated to be sold as condominiums, but after the housing bubble burst, the units would not sell.

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