Archive for Bluffton

Aug
19

Bluffton’s The Lakes at Myrtle Park Apartments Sold

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lakes myrtle parkBlaze Partners has announced the acquisition of The Lakes at Myrtle Park, a 360-unit institutional, Class A multifamily community located in the greater Hilton Head area. Blaze acquired the community from an affiliate of Chartwell Holdings, LLC with the transaction closing on August 5, 2016.

Located in Bluffton, SC, a top retirement and vacation destination minutes outside of Hilton Head Island, the community is situated along Bluffton Parkway, a highly-trafficked thoroughfare with a recently-opened extension that provides one of only two direct access points to Hilton Head Island. The Company plans to strategically invest capital to improve the property for resident enjoyment through the upgrade of select units and community amenities. The transaction represents the Company’s first acquisition since the two founding principles launched the Company in May 2016.

“The Lakes at Myrtle Park represents a phenomenal opportunity to establish our footprint in the Southeast and own the highest-quality asset in the market,” explained Chris Riley, co-founder and Managing Partner. “We are thrilled that we were able to identify and consummate a transaction of this nature within three months of launching Blaze Partners, and we look forward to continuing to actively build a portfolio of Class A, institutional multifamily assets.”

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Jun
28

Memory Care Center Planned for Bluffton

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memoryThe area around Bluffton’s Buckwalter Place continues to develop as a new Alzheimer’s and dementia residential care facility is planned to open there by next year.

Nashville-based Memory Care America is preparing to break ground on a 44,000-square-foot assisted living community on Bluffton Parkway. The proposed facility would sit on an 89-acre site just south of Buckwalter Place, a commerce park that is home to the national headquarters of eviCore.

eviCore, a managed health care benefits firm formerly known as CareCore National, is one of Beaufort County’s largest employers and anchors the growing Buckwalter Place area.

The planned Memory Care America facility would offer 64 beds for patients with Alzheimer’s disease and other memory-related challenges. “It is designed and built to feel just like a home,” Memory Care America’s vice president of marketing Ricky Perkins said Friday.

But unlike most homes, the rooms will include features — from handrails with lights and motion sensors to refrigerators with glass doors to help residents remember to eat and drink —specially designed to make life easier for patients, he said.

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Jun
21

New Hotel Proposed for Old Town Bluffton

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lodgingOld Town Bluffton could be getting its first hotel.

While Bluffton has made strides toward becoming a tourist destination distinct from its better-known neighbors Savannah and Hilton Head Island, visitors still don’t have many options in terms of lodging in the vicinity of the town’s historic district. That could soon change.

Development firm Landmark 2 LLC is proposing to build a new 13-room, three-story, 7,700-square-foot boutique inn on May River Road between Bluffton Road and Promenade Street. Developer Larry Leary, who owns the property, said Monday that the inn will “be an upscale place” and “a landmark in Old Town.”

In the historic district, “you got all the restaurants and everything in walking distance” and with the addition of lodging, visitors “won’t need a car,” he said. “You can go out and have a couple of drinks at nighttime and have a little weekend getaway,” Leary said.

Vince Harrison with Landmark 2 said each of the proposed inn’s rooms will have a private balcony, where guests “can sit and relax and have a glass of wine.” He said the aim is to create a “luxury boutique inn” that exudes “vintage charm and class.”

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Apr
13

Bluffton Gets Its Largest Self-Storage Facility

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bluffton self storageBluffton Self Storage is now open in Bluffton, S.C. Owned by Evans and Bradshaw LLC, the property at 11 Oliver Court will be the area’s largest storage development, according to the source. It’ll stretch over 6 acres and encompass 76,800 square feet of storage space, 48,500 of which will be climate-controlled.

The first phase of construction, which is nearly complete, comprises 17,500 square feet of drive-up storage as well as a two-story, 14,350-square-foot, climate-controlled building. The property also offers outdoor and interior vehicle parking, including units that include electricity and lighting.

“This has been a long time in the works,” said Jim Bradshaw, who’s also owner of the Bradshaw Group Ltd. “We’re looking forward to providing some premier services to our customers.”

Amenities include 24-hour access, a retail center selling moving and packing supplies, and U-Haul truck rentals. Security measures include LED lighting in the parking lot and vandal-proof, high-definition video cameras, according to Ryan Krivit, property manager.

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Apr
03

Hobby Lobby & The Fresh Market Coming to Bluffton

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coming_soon_roundHobby Lobby, The Fresh Market and PGA Tour Superstore will anchor a new shopping center in Bluffton.

The shopping center, located at the intersection of U.S. 278 and Burnt Church Road, will feature a large building that houses the stores and, potentially, some restaurants.

“Construction is projected to be completed during the first quarter of 2017,” Tom Thompson, a partner with Jaz Management, LLC, said Thursday afternoon. “(By then) the whole shopping center will be built, and the spaces delivered to tenants.”

In addition to the main building, a Sleep Number store and an Aspen Dental office will occupy two “freestanding buildings” facing U.S. 278, Thompson said.

Thompson said his partner, David Oliver, has a record of developing shopping centers in Bluffton. Although construction hasn’t begun, some Bluffton residents are excited. And while a sign at the intersection advertises the soon-to-come retail stores, the retailers themselves are, at the moment, silent. Oliver was unavailable for comment.

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Feb
14

Bluffton Seeing Self Storage Growth

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self storageAmerica has become a country of pack rats.

The fastest-growing segment of the commercial real estate industry is self-storage facilities. The industry boasted a profit of $27.2 billion in 2014, according to the Self Storage Association.

Locally, the demand is visibly high, with two self-storage centers currently under construction off Bluffton Parkway.

Bluffton Self Storage is well underway at 12 Oliver Court. Hilton Head Island-based The Bradshaw Group is developing the 76,000-square-foot center, which is expected to include standard and climate-controlled units in addition to a two-story climatized building and covered RV and boat parking. The Bradshaw Group has previously touted the facility as being the largest in Beaufort County.

Just down the street, another self-storage company, Savannah-based Stop N Stor, has cleared a lot and begun building at the intersection of Bluffton Parkway and Red Cedar Street. Directly across from it is an Extra Storage Space facility.

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Oct
27

Cottages Planned For Old Town Bluffton

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bluffton cottagesBluffton real estate investor Eugene Marks recently proposed developing six residential cottages and six mixed-use buildings on a three-acre lot he owns in the Stock Farm development in Old Town Bluffton. The cottages would be similar to the buildings located throughout Old Town, with metal roofs and wooden porches, and would range in size from 900 to 2,800 square feet.

The first phase of Marks’ plan is for twobedroom cottages available as short-term rentals. The second phase would be a two-story mixed-use building of offices café and retailers on the first floo with apartments above. Marks hopes to gain the support of Bluffton’s Historic Preservation Commission and break ground in January.

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Oct
14

Bluffton New Home Construction on the Rise

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New Home ConstructionHouses are going up in Bluffton–all part of a booming real estate business.At Village Park Homes, they are seeing success first-hand.

“In the last two years we’ve seen incredible opportunity to expand our company, as well as a lot of other homebuilders in our area. the growth has been wonderful, we’ve gone from two communities to twelve, and we have a few more on the books, and that’s just in the local Bluffton area,” said CEO, Richard Schwartz.

Schwartz says the homes going the fastest are at a price point between $200-350,000 and are literally flying off the lots.

“The buyers are coming in so quickly, that we cant put up some of the houses fast enough in some of the communities.”

Which means more jobs in our area, Schwartz says just one home can account for up to 50 jobs, and in the last couple years they built about 500 homes. and there’s more to come because we are still in short supply.

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Apr
01

Bluffton’s Staggering Growth Over 10 Years

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bluffton mapIn case you haven’t already heard and seen, the very first issue of Bluffton Today was published April 4, 2005, and for Wednesday’s paper, we marked our 10th anniversary with a number of different items.

Included in those was a look at how much Bluffton has grown over the last decade with comments from town officials and long-time residents.

Here are some statistics relating to that growth since the town’s waves of annexation began to hit that you’ll find referenced in the story and others that didn’t make it in.

These numbers were provided by town staff and are based on U.S. Census Bureau figures.

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Sep
29

Beaufort County Hotel Occupancy Up 7%

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Hotel occupancy, room rates and tourists’ spending are on the rise in the city of Beaufort, according to the Beaufort Regional Chamber of Commerce. “A lot of this has to do with the economy coming back, for one,” said chamber tourism division director Robb Wells. “That makes people less nervous about traveling and spending.”

He said an additional day for military graduations has also helped. In January 2012, Marine Corps Recruit Depot Parris Island expanded family days to include the Thursday before recruit graduations.

Targeted advertising to prospective tourists in areas such as Greenville, Atlanta, Charlotte and Augusta, Ga., is also working, Wells said. As an example, a customer at the Beaufort Inn brought an advertisement from an Atlanta publication, telling hotel staff that the ad prompted the visit, he said.

The timing of those ads is important because it can smooth out the lulls in the tourism season. The chamber brought in travel writers in March and April, which resulted in articles about the city being published into June. This summer, hotel occupancy rates averaged about 60 percent, a 7 percent increase over last year, according to the chamber.

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Sep
24

Bluffton Suing Developer Over Cleared Trees

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The town of Bluffton is suing a developer after it says more than 6,000 trees were cleared from land along the main road leading to Hilton Head Island. The Island Packet of Hilton Head reports  that Bluffton has sued over the clearing of 107 acres along U.S. 278.

The lawsuit alleges that Indian Hill Associates LLC violated a development agreement requiring the company to comply with town landscaping ordinances and protect trees on the property known as the Willow Run tract.

The town wants the timber profits and monetary damages amounting to triple the value of the removed trees.

Willow Run property owner Paul Schlosser told the newspaper he has not been notified of the lawsuit and would not talk about it.

 

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Aug
12

Townhouses Proposed for Bluffton…Wait, What?

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A neighborhood of townhouses is set to pop up early next year on land east of the Bluffton Promenade, according to one of the project’s developers.

A “pocket neighborhood” of 36 townhouses, to be called Kirk’s Bluff, will be developed on the corner of Goethe Road and Hildebrand Street, developer Jim Moore said. Moore said he hopes to have three model townhouses on the property by Christmas to show prospective buyers.

The namesake for Kirk’s Bluff is James Kirk, a key figure in Bluffton’s early history. Kirk helped lay out the town’s streets, raised money to build the Church of the Cross and founded the town’s first school, which later became May River Academy, Moore said.

The townhouse development will use roads and sidewalks built on the site for an earlier project that went into foreclosure. Moore’s Bluewater Investment Group purchased the foreclosed land from a Minnesota company in November.

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Jul
16

Bluffton Holiday Inn Express Sold

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Banyan Investment Group and Investra Investments have formed their second joint venture this year to purchase the 112-room Holiday Inn Express & Suites in Bluffton. The hotel features 1,250 square feet of meeting space, a business center and seasonal outdoor swimming pool.

The hotel is located six miles from Hilton Head, 25 miles from Savannah and 90 miles from Charleston. The joint venture purchased the asset from Veritas Hospitality Group, a division of the Stafford Cos. Loxi Hospitality provided advisory services in the transaction.

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Oct
14

Flood Insurance Rates Skyrocket in Beaufort County

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A national flood-insurance rate hike that took effect Oct. 1 is hitting some Beaufort County property owners hard and worrying local real estate agents.

Some who recently purchased property are seeing their rates increase tenfold, while rates for second homes or rental units are climbing 25 percent a year, with more raises to come. Local real estate agents say they’ve lost some deals after prospective buyers realized the cost of insurance, which can run more than $10,000 a year.

“There is definitely a shakeup in the industry,” said John Alagna, who owns Hilton Head-based Carolina Heritage Insurance. “This will impact a lot of people in the area.”

The rate increase stems from the Biggert-Waters Flood Insurance Reform Act of 2012. The measure was passed overwhelmingly by Congress to keep the National Flood Insurance Program solvent after a barrage of claims from catastrophes such as hurricanes Katrina and Irene.

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Sep
17

Beaufort County Reassessment Notices Mailed

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Reassessment notices for the 2013 tax year were mailed last week by the Beaufort County Assessor’s Office. These will include properties in Hilton Head Island, Bluffton, Daufuskie Island, Beaufort and all unincorporated areas of Beaufort County.

Appeals must be signed and either mailed or dropped off at any of the assessor’s three office’s in Beaufort, Bluffton, Hilton Head Island by Dec. 11. If the appeal isn’t received by the deadline, it will result in a waiver of the owner’s right of appeal for the current 2013 tax year.

My firm has successfully represented property owners in their property tax appeals, and we would gladly review your property reassessment situation at no charge. E-mail me at mdodds@irr.com if we can help. It will be interesting to see how much the assessor’s office feels that property values have rebounded.

Michael Dodds, MAI, CCIM

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