Home News Daniel Island poised to see new hotel with restaurant, cottages and event space

Daniel Island poised to see new hotel with restaurant, cottages and event space

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Over $ 20 million of accommodation is offered on Daniel Island, including restaurants, event spaces, and guest cottages.

City of Charleston Design review board Recently approved a plan for a 38 unit hotel on Daniel Island Drive in 1995 near the planned 320 units. Norwell Creek Village Apartments..

The site is opposite the former Black bow Headquarters building, now called multi-tenant office structure Marsh side.. The board proposed some aesthetic amendments, but otherwise unanimously voted for the hotel project.

Currently, a small office structure is on the premises and can be moved to give way to a new project with other approvals from the city.

JT Industries LLCDeveloper affiliate King and Society Real Estate According to Berkeley County land records, Charleston purchased a 1.5-acre lot near Beresford Creek for $ 1.25 million in 2019.

1995 Daniel Island Drive Street Level

Street-level rendering shows a planned 38-room hotel on Daniel Island’s 1995 Daniel Island Drive with event space, a restaurant, and guest cottages.Neil Stephenson Architects / Charleston City / Provided

The founder and CEO of King and Society said: Troy Barber..

He estimates that construction will take about 14 months after permission and other approvals, and hopes the project will be completed in 2024.

Barber said the hotel isn’t priced firmly, but he believes the project will cost more than $ 20 million.

The historic Charleston Ryokan sells for about $ 7.7 million

The main 11,200-square-foot building houses rooms, restaurants, and event space on the third floor of the parking lot. The proposal includes four guesthouses of 8,500 sq ft each, two 866 sq ft cottages, two 592 sq ft cabanas, and 50 parking spaces.

The plan shows the venue, perhaps as a wedding venue, with separate suites for the bride and groom, a ballroom, and an outdoor ceremony site overlooking Beresford Creek. The barber said it could also be used for corporate functions.

Barber said King and the Society will be the developers and will be responsible for the construction.

Kane Bay Plantation

Berkeley County’s Cane Bay Plantation was ranked 5th in the US’s best-selling Master Plan community by RCLCO in early 2022. The nearby Nexton is also on the top 50 list.File / Andrew J. Whitaker / Staff

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best seller

South Carolina has three of the 50 best-selling master plan communities in the United States as of mid-year, despite sluggish sales since last year.

RCLCO Real Estate Consulting Ranking Kane Bay Plantation With sales of 525 in the first half of 2022, it ranks fifth in Berkeley County. This is a 9% decrease from last year’s midpoint.

to the nextAlso in Berkeley, it fell 5% from the first six months of last year to 22nd place with 308 sales.

Latitude Margarita Building Hardeuville, near Hilton Head Island, was ranked 39th with 234 sales, down 29% from last year from January to June.

to the next

Nexton’s developing Berkeley County district is one of three major developments in South Carolina that created a list of 50 top-selling Masterplan communities in early 2022. We also created a list near Cane Bay in Berkeley County and Latitude Margarita Building Hilton Head Island in Hardyville.sponsored

The best-selling master plan community village, Between Okara and Orlando, Florida. Sales were around 1,500, down 25% from last year’s midpoint.

Almost all of the top 50 are in the southern part of the state. Texas had the most at 20, Florida at 15, Nevada at 4, California and Arizona at 3, and Utah and Washington each with one notch.

According to RCLCO, total home sales in the top 50 Master Plan communities fell 18% in the first half of 2022 compared to the same period last year.

“Supply chain issues and inadequate new home inventories continue for developers as rising prices and rising interest rates are beginning to affect traffic from potential buyers,” RCLCO said in a mid-year report. It’s causing problems. “

Nationally, the average price of all new single-family homes has risen 15 percent since mid-2021.

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“The results of this updated mid-year report show that rising interest rates and rising prices are beginning to affect that demand, but supply chain disruptions affect the ability of the Master Plan community to meet new housing demand. We have confirmed that it continues to exert, at least in the short term. ” Karl Pishke..

“But these are still short-term trends, so it’s important not to overreact to the slowdown in sales seen last year,” he said.

“The long-term future of the for-sale housing industry is strong, as evidenced by the favorable demographic tailwinds,” Pishke said. “And the future of the Master Plan community provides another reason for optimism, especially in its ability to capture most of buyers’ demand during uncertain or difficult economic conditions.”

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