IN THE NEWS

Gather Mount Pleasant, an entertainment and retail space is planned for Hungry Neck Boulevard

The Town of Mount Pleasant is on the verge of welcoming a new mixed-use development known as Gather Mount Pleasant. Spanning approximately five acres near Hungry Neck Boulevard, equivalent to about four football fields, the multi-million-dollar project promises a diverse array of amenities. These include outdoor live entertainment areas, communal spaces, office facilities, standalone restaurants, and retail spaces tailored for small businesses. Despite initial approval from the Town of Mount Pleasant Design Review Board, contingent upon minor adjustments to address potential traffic concerns, the project awaits final clearance from the development company's upcoming hearing in August. Pending successful approval, construction is scheduled to commence later this year.

Source: chstoday

 PAUL'S MARKET JOURNAL

A First Look at The Cooper, Charleston's Newest Waterfront Hotel Set to Open in 2025

Last week, I toured The Cooper, a 200-unit hotel project that has been in development for over eight years, now under the ownership and management of Beemok Hospitality. Upon acquiring the project, Beemok raised the standards significantly. What was already set to be a splendid hotel has now been elevated to the next level.

We entered through the motor court arrival area and observed that the hotel will offer four food and beverage options, with the lobby situated on the second floor. I am particularly excited about the planned waterfront coffee/wine bar. While the hotel rooms and pool area will remain private for guests, the food venues, waterfront park, and the ballroom/entertainment areas will be open to the public. There is a separate stairway providing access to a public restaurant on the second floor. The 4th-floor open-air bar has been transformed into an all-seasons bar with a sliding solid glass wall to accommodate winter conditions. From our vantage point up top, it became clear that these could be the best rooftop views in Charleston.

Significant urban planning efforts have extended the waterfront park. To achieve this, the development team constructed a large concrete table to add fill, showcasing impressive engineering. A velocity trip wall has been built to manage wave action during 100-year storm events, and the building is designed to be flood-proof up to the first 8.5 feet. The foundation is exceptionally robust, with pilings reaching 60-80 feet below ground. I recall the ongoing construction two years ago when every visit to Waterfront Park was accompanied by the constant sound of hammers—a running joke at the time.

The hotel is slated for completion in 2025. After taking over, Beemok committed to creating a world-class, ultra-luxurious destination. Their vision is rapidly materializing, and the stunning views from nearly every room were breathtaking.

The architect explained the intricate logistics of the design elements. Beemok has devised a plan for a publicly accessible ballroom adjacent to the waterfront park, with guest rooms offering harbor views from the pool balcony. The pool deck and infinity pool are ingeniously situated directly above the large ballroom, designed without any central columns. Furthermore, efforts were made to ensure the pool deck remains private, despite its visibility from the park. The design cleverly integrates the park, ballroom, and pool deck into distinct levels, each offering unique, yet separate atmospheres focusing on the same views.

Additionally, Beemok reconfigured some rooms to create larger suites, including presidential suites, reducing the total number of guest rooms from 225 to 200 without diminishing the overall capacity. The transformation of the open-air bar into an all-seasons venue is just another example of the meticulous attention to enhancing guest experiences.

As Charleston welcomes the latest venture by a corporation affiliated with Bill Gates, the construction of a Four Seasons hotel in downtown, it's clear that our historic city is becoming an increasingly attractive destination for high-profile investments. This development, alongside other luxury projects like The Cooper, signals a shift in Charleston's landscape, raising the question: Is Charleston transforming into a billionaire's playground? This trend towards upscale developments not only enhances the city's profile but also promises to reshape our community and economy, aligning Charleston with the lifestyles and expectations of the world's wealthiest individuals.

Exclusive Preview: Be the First to Access Charleston's Real Estate Deals

NEW PUBLICLY MARKETED DEALS IN CHARLESTON

As of this week, there are 2 new listings.

162 Wentworth Street -  a fully leased mixed-use historic building in Charleston, SC. This prominent corner of Rutledge and Wentworth streets is consistently 100% leased. Featuring ground-floor retail space and four residential apartments, it's an ideal investment opportunity. Recently restored and updated, situated in a prime location near Colonial Lake, MUSC, College of Charleston, the French Quarter, and downtown's finest shops and eateries.

64 & 64.5 Columbus Street - includes five units near Cigar Factory. Close to parks, Ravenel Bridge, and dining on Meeting and King Streets. Features two levels of covered porches and strong rental history.

1 property has gone under contract, but nothing has closed.

125 Tigers Den Ln - Investment opportunity in fast-growing area. City water and sewer, NO HOA. AS-IS sale, tenants in place. 5 homes rented at $2,150/month total. Triplex rents at $600/unit, MH at $350.

The below list contains every single multifamily property (5+ units) being publicly marketed in Charleston that we have compiled from LoopNet, Crexi, Costar, and 2 different multiple listing services.

Should any of these properties interest you, please do not hesitate to reach out to me directly. I would be more than happy to provide you with the additional information I have on file.