With an average of 230 days of sunshine each year, a low cost of living, and endless recreational activities, Charleston is a joy to call home. As the second most popular place to live in the U.S., metro Charleston is booming, not only with new residents but with new construction and property investment opportunities too. But with the Tri-County's rapid rate of growth comes increased real estate demand and complexity. That's especially true for commercial real estate transactions. According to CoStar, near-zero vacancy rates and short supply have forced rents and sales to reach record highs. At the same time, online medical and grocery purchases, along with last-mile delivery needs, have driven a new desire for industrial space.
It's safe to say that there is a lot of opportunity on the table for commercial real estate sellers and investors in South Carolina. But capitalizing on that opportunity without the proper market knowledge, relationships, or risk analysis can actually be counterproductive to your goals. That's where Coldwell Banker Commercial Atlantic's commercial real estate brokers in Charleston, SC, come into play.
As experts in the commercial real estate industry for more than 37 years, our brokerage provides the highest level of service to clients in today's rapid, constantly-changing business climate.
At Coldwell Banker Commercial, we pride ourselves on having local power and a global presence. Our clients entrust their complex and lucrative commercial real estate deals to us because they understand the value of working with brokers who are familiar faces within the community. On any given day, you could be standing next to one of our brokers at a grocery store or local restaurant. As your friends and neighbors, we're proud to call the Lowcountry home. Though we have local roots, our resources and expertise are backed by a global network. That power gives our commercial real estate clients peace of mind, knowing they have access to a dynamic and diversified brokerage of highly-trained and educated agents.
From general commercial leasing services and property management to investment guidance and new property site selection, our team works tirelessly to exceed your expectations and meet your goals. Whether you're looking to buy, sell, lease, or develop, our commercial real estate brokerage in Mount Pleasant, SC provides the up-to-date advice and time-tested market knowledge needed to facilitate any commercial real estate transaction, large or small.
Some of the commercial real estate specialties we focus on in South Carolina include:
At the end of the day, our commercial brokers and agents aren't satisfied until you're a happy customer. That's why every service and decision we recommend is made with your best interests in mind.
Perhaps you're in a situation where you need more space for a growing business. Maybe, instead, you want to capitalize on low-interest rates and buy a commercial real estate investment property to bolster your portfolio. Whatever your needs may be, whether as an investor or a small business owner, your goals are probably the same: lock in the best value and negotiate optimal terms for leasing, buying, or selling. When it's all said and done, you want to minimize expenses and maximize your ROI.
Unfortunately, commercial real estate is complex by nature. Given today's ever-changing real estate landscape and the challenges of our economy, working with a commercial real estate agent is the savviest way to save money and lessen the likelihood of making a poor investment.
That's because the very best commercial real estate brokers, like those at Coldwell Banker Commercial Atlantic, do more than putting "for sale" signs in yards and in newspapers. They have the tools and training to source and present research apropos to your commercial real estate purchase or sale. They also have the ability to provide transaction and advisory services to ensure every aspect of your CRE process goes smoothly and efficiently. But we're getting ahead of ourselves. Here are a few of the biggest reasons to work with a commercial real estate broker in South Carolina.
Unsurprisingly, money is one of the biggest reasons why people steer clear of CRE brokers - for the cost savings. Yet, just about every commercial real estate transaction is managed by a commercial real estate brokerage. Why might that be? The answer is that smart business owners, executives, and investors know that the most lucrative cost savings stem from good planning, time management, and successful negotiations. Only an experienced commercial real estate broker can provide you with those features while also properly structuring your commercial real estate deal.
Commercial real estate investors and business owners often have jam-packed schedules with little time to spare for anything other than day-to-day operations. If that sounds familiar, you know how crucial time management is for commercial real estate. By working with a seasoned broker, you can uphold your daily responsibilities while they provide guidance and manage the minutia of your CRE dealings.
Reputable commercial real estate brokerages provide access to a bevy of information that is pertinent to your commercial real estate goals. We're talking vacancy and absorption rates, the latest sales price data, comparative labor and tax costs, and more. Your broker will help break down this information so that you can make the most informed decisions possible. Brokerages like Coldwell Banker Commercial Atlantic also have systems and software to facilitate complex real estate processes while eliminating unneeded costs. The combination of accumulated data and exclusive systems results in a more cost-effective, efficient way to meet your real estate requirements on terms that are beneficial to you.
As is the case with most things in life, practice and repetition are essential in honing skills and achieving business success. The truth is that no amount of money or "how to" articles can suffice for decades of real-world, hands-on experience. Sure, you can find a litany of commercial real estate info online. But those articles won't teach you about navigating the nuances of structuring advantageous purchase terms or completing complicated due diligence tasks. A successful commercial real estate broker in Mount Pleasant, SC, will have no problem executing these often-confusing processes because they've done it dozens and dozens of times before. This priceless experience is your best resource for successful commercial real estate initiatives.
One of the biggest advantages of working with a commercial real estate brokerage is their ability to provide necessary services that are relevant to your real estate needs. As a Coldwell Banker Commercial affiliate, we are part of a network that allows us access to accounting, legal, and other services needed on your real estate journey. Finding and vetting these services can be very costly and time-consuming, which is unneeded stress that we're happy to remove from your plate.
For any project to be successful, a strategic marketing plan must be implemented to achieve the desired results for our clients. The methods of exposing and promoting a property must be creative, innovative, and unique to your property. At Coldwell Banker Commercial Atlantic, we utilize the most effective methods that make sense for your property in South Carolina, including:
If you're reading this page, chances are you're successful to some degree and have entered negotiations a time or two in your professional life. While that's nothing to sneeze at, the art of negotiating in the commercial real estate industry is a skill that must be honed over years of transactions. In the world of CRE, transaction negotiations are often time-consuming and stressful - two things you don't need in your life. Your commercial real estate broker will use their experience to relieve you of that stress so that you can focus on growing your business or serving tenants.
One of the most valuable reasons for working with a commercial real estate brokerage is that staff have a deep understanding of South Carolina's real estate market. In the Lowcountry, trends and market conditions are constantly changing. Opportunities are lost and found daily.
With this market knowledge, your commercial real estate broker in Mount Pleasant, SC, can provide an easy-to-understand analysis of various commercial properties within your budget. They'll know what relevant properties are leased or sold for and how much. Savvy commercial real estate brokers are also always informed on local demographics and market indicators that impact your commercial real estate goals. For instance, with COVID becoming a more accepted part of our lives, leasing, and sales in retail have taken off, especially for Class A and Class B centers.
At Coldwell Banker Commercial Atlantic, we specialize in several commercial real estate services. Though each service is comprehensive and will differ for each client, here is a brief overview to help you understand the scope of our abilities.
We're proud to say that our commercial real estate brokers in Mount Pleasant, SC, are equipped with all the necessary skills and traits to make your life easier. From transactional needs to marketing strategies, our experience and market knowledge is second to none, allowing us to ensure your success in today's market.
In an ever-changing commercial real estate industry, our approach to property management is constantly evolving. Our team has extensive experience in commercial real estate management and recognizes its importance as a foundation for long-term value and wealth. As such, Coldwell Banker Commercial Atlantic provides tailor-made property management packages that meet your specific assets needs and objectives.
Whether you're entering a build-to-suite or remodeling a commercial property, our associates are ready to represent you with facility planning, design, construction, zoning restrictions, and so much more. If you're looking for a brokerage that can guide you through every step of the construction process with your goals and budget at heart, look no further than Coldwell Banker Commercial Atlantic.
Coldwell Banker Commercial Atlantic provides comprehensive investment analytics to better evaluate potential investments and increase return on those investments. Additionally, our team can facilitate single or multiple-location transactions and also find alternative financing recommendations if needed.
From selecting the perfect building site for your property to overseeing its initial construction, our associates provide experience and expertise when you need it most, covering every step and service of property development. If needed, our team can assemble the right professionals to ensure your property is developed to your unique specifications and applicable regulatory standards.
Our commercial real estate brokerage represents clients in both the disposition and acquisition of property and works directly with you to determine your needs. We then strive to improve efficiency and reduce costs. We also assist financial institutions and government agencies in the management and disposition of âtroubled properties.' Our firm incorporates its spectrum of services to efficiently turn these properties around and improve their value for ultimate disposition.
If you're just getting started in commercial real estate investing, you're probably searching for reliable advice and best practices to follow. While hands-on experience and guidance from a commercial real estate broker are always best, a little advice never hurts. After all, there's a wide world of opportunity out there. As you begin to build a more robust portfolio, keep these tips and tricks in mind.
Commercial real estate deals can take a lot longer than traditional single-family transactions. That's true throughout the entire process, from purchase, to renovation, to selling. That's not a bad thing - after all, having impatience is a good way to rush into a poor decision. Instead of a means to quick cash, think of commercial real estate deals as a large bonus or as a vehicle for retirement.
Many commercial real estate investors jump right into the multi-family property space. However, it's essential to keep other types of properties in mind, such as mobile homes, office buildings, land, and even mobile home parks. Forget about your comfort zone. Instead, weigh your options and choose a niche that helps you meet your goals.
Commercial loans are quite different than their residential counterparts. In some ways, they're better. Though down payments are typically higher, meaning you'll put more down, there's often no personal liability involved. Plus, commercial loans can be more forgiving when borrowing money for down payments. The bottom line is to search for the best lenders before making an offer. If you're having trouble, ask your commercial real estate broker for assistance, as they often have connections and partnerships with relevant entities.
If you're used to buying residential homes, you're probably familiar with some formulas, such as buying 75% of after-repaired value minus the estimated cost of repairs. Depending on the type of commercial property you're buying or selling, you'll have different formulas to learn. Two examples are Cap Rates and Net Operating Income. Learning these formulas can be very beneficial when making an offer.
If you find yourself discouraged with the commercial real estate game, remember that the team at your commercial real estate brokerage is there to make your life easier. At Coldwell Banker Commercial Atlantic, we have a powerful brokerage with a team of over 20 highly skilled and educated agents. Our job is to serve you, whether you're a new investor looking for your first deal or an experienced property owner looking for 1031 tax investment advice.
MOUNT PLEASANT — No new apartment or condominium developments have been allowed since early 2017 in South Carolina’s fourth-largest city, and Town Council members are moving to extend that ban into 2025.The town’s elected leaders also just slashed the number of homes that would be allowed above businesses, drawing criticism from real estate professionals.Josh Dix, government affairs director for the Charleston Trident Association of Realtors, said Mount Pleasant has developed a culture “of privilege and ...
MOUNT PLEASANT — No new apartment or condominium developments have been allowed since early 2017 in South Carolina’s fourth-largest city, and Town Council members are moving to extend that ban into 2025.
The town’s elected leaders also just slashed the number of homes that would be allowed above businesses, drawing criticism from real estate professionals.
Josh Dix, government affairs director for the Charleston Trident Association of Realtors, said Mount Pleasant has developed a culture “of privilege and exclusion” and is acting more like a homeowner’s association in a gated community than a large town.
Councilman Jake Rambo took offense at Dix’s suggestion that increasing development restrictions have been making housing less affordable.
Mount Pleasant has three or four times the population it had when he was growing up there, Rambo said, but amid all that growth and development the town has become more expensive and less diverse.
The town’s population is more than 91 percent white and the median single-family home price was $750,000 in the least expensive part of the town, according to January figures.
Dix and other real estate professionals acknowledge that newer apartments in Mount Pleasant are far from affordable but say restricting apartment construction can drive up rents in the region.
“When you just stop, there are some unintended consequences,” Rob Woodul, a town resident who is president of South Carolina Realtors this year said prior to the council meeting. “When you choke off supply, it drives up prices.”
But choking off supply is just what Mount Pleasant has done, very deliberately and in response to the wishes of the majority of voters. Controlling residential growth and traffic have been talking points in each recent election.
On Feb. 14 the council made its latest moves, voting unanimously to reduce the number of residences allowed in commercial areas and to give initial approval to a two-year extension of the apartment and condo moratorium.
“We don’t want any more,” Councilwoman Laura Hyatt said after the meeting. “We don’t need any more.”
At the same time, many council members agree that Mount Pleasant needs more housing that people, including town employees, teachers and hospital workers, can afford. The town describes that as “attainable housing” and is relying on the private sector to create it.
Both the moratorium and the reduction in the number of residences allowed in commercial areas carve out exceptions for attainable housing.
“This is a big thing for affordability tonight,” said Mayor Will Haynie.
Real estate professionals have predicted that no such housing will be created under the town’s exceptions because they are too strict and won’t make sense financially.
Specifically, Town Council reduced the number of homes allowed in mixed commercial-residential developments — homes above businesses — from 12 per acre to four, but allowed for four more if they qualify as “attainable” housing for middle-income buyers or renters.
That would prohibit future developments similar to Shelmore Village, a collection of three-story buildings with homes above offices and shops that was built in 2006.
At an earlier meeting about the down-zoning, Daniel Doyle, chief operating officer and director of development for The Beach Co., said expecting developers to make half of the residences in a development “attainable housing” units won’t work financially.
The moratorium on apartments and condos also includes an exemption for attainable housing. That exception has been included in the town’s moratoriums since 2019, and no such multifamily developments have been proposed during that time.
The stated purpose of the moratorium extension is to give the town needed time to complete a rewrite of Mount Pleasant’s zoning code, to match up with its most recent Comprehensive Plan. Earlier versions of the moratorium were said to give the town’s infrastructure time to catch up with development.
The restrictions come at a time when the Charleston area is facing an affordable housing crisis, soaring apartment rents and a shortage of housing for sale.
Mount Pleasant’s neighbors, the cities of Charleston and North Charleston, have seen soaring demand for apartment construction during the time Mount Pleasant has had a moratorium in place. Mount Pleasant and the two neighboring cities are three of South Carolina’s four largest municipalities.
Charleston issued permits for development of 2,213 multifamily units in 2022 and 2021, according to the city, and more than 7,500 since Mount Pleasant’s continuous moratorium started in 2017.
Nearly 48 percent of residences in Charleston are in multifamily developments, according to the city. In Mount Pleasant, multifamily homes accounted for 27 percent of residences as of 2020, and no new ones have been permitted for years.
In North Charleston, 5,631 apartment units were in some stage of the permitting process during the past two years, according to the city. Some of those were under construction and were likely permitted prior to 2021, but had not yet received certificates of occupancy.
“We need all the housing we can get, and at all price points,” said Dix, prior to the Town Council meeting.
“Mount Pleasant is not an HOA,” said Dix, who also chairs Charleston County’s Housing Committee. “If they want to be a gated community, that’s another discussion.”
The town’s prohibition on new apartment developments began in 2016, ended briefly, then came back in 2017 and has remained in place. Apartment buildings developed since that time were either permitted before the moratoriums began, or were allowed due to a legal settlement.
The town also had a permit allocation system from 2001 into 2008, prompted by concerns that home construction was outpacing the town’s ability to keep up with road improvements and public services.
As in 2021, allowing the existing apartment and condo moratorium to expire this year would not have resulted in new apartment buildings because of the existing permit allocation system.
“Even if it does go away, there are no multifamily permits,” said Michele Reed, the town’s Planning, Land Use and Neighborhoods director, prior to the council meeting.
The permit allocation system is in place until February 2024, and could be extended, she said.
There have been other South Carolina towns and cities that temporarily halted permitting for apartments, but none have done so for as long as Mount Pleasant.
MOUNT PLEASANT — Town Council has approved borrowing $50 million for a park and recreation initiative that voters narrowly approved in a November referendum, setting those plans in motion ahead of a coming property tax increase.Most of the money, about $40 million, will be used to create a new park complex on more than 120 acres the town bought in 2010 for that purpose on Rifle Range Road just north of Six Mile Road.The rest will improve existing facilities and expand a town bike/pedestrian trail network.The first ...
MOUNT PLEASANT — Town Council has approved borrowing $50 million for a park and recreation initiative that voters narrowly approved in a November referendum, setting those plans in motion ahead of a coming property tax increase.
Most of the money, about $40 million, will be used to create a new park complex on more than 120 acres the town bought in 2010 for that purpose on Rifle Range Road just north of Six Mile Road.
The rest will improve existing facilities and expand a town bike/pedestrian trail network.
The first project the money will fund is renovations of the Park West swimming pool setup.
“That’s fully designed and we are going through permitting,” Director of Recreation Steve Gergick said.
The pool space doesn’t have air conditioning, heat, lockers or family changing rooms. All that will change, Gergick said, and the town will begin the process of choosing a construction company for the work in February.
The Rifle Range Road park plan is expected to relieve pressure on the town’s overwhelmed playing fields and courts while providing new amenities in a central location.
The only hint of the park’s existence now is a small parking lot and a trailhead leading into the woods and wetlands. Plans call for soccer fields, pickleball and tennis courts, a gymnasium, a network of trails, performance pavilion, fishing piers and more.
Becky Williamson, who coached tennis at Wando High School for 12 years before retirement, said it’s been hard to find available courts in recent years.
“People are moving here in droves and many of them play tennis,” she said.
Al Bradshaw-Whittemore, local ambassador for the United States Pickleball Association, is looking forward to the eight pickleball courts planned at the new park.
“It’s exploded, pickleball,” he told Town Council at a Jan. 10 meeting. “Every time I teach I have more and more people.”
Following council’s approval for borrowing $50 million, the town expects to issue bonds Jan. 27. Proposals to the town from architectural and design firms hoping to work on the new park are due the same day.
“We’ll have to go through a full design process and permitting,” Gergick said. “I would expect construction to begin in 2024.”
“It’s going to be a jewel for the town, it really is,” he said.
The town’s park site is adjacent to a Charleston County Park and Recreation Commission property that has not been improved. The combined 245 acres were purchased together in 2010 for $20 million, mostly using county greenbelt money.
Mount Pleasant is an affluent suburb with low property taxes, and the November referendum to raise the tax rate to pay for the park and recreation projects barely passed by a vote of 20,925 to 20,254.
Charleston County dropped plans for a tax-raising referendum to fund affordable housing in 2022, partly because the town’s referendum would be on the ballot in the same election. A majority of Mount Pleasant voters had previously rejected referendums on countywide housing and town parks.
Property owners can expect the town’s portion of their annual tax bill to rise by 10 percent starting with the bills that go out in October. The tax increase is expected to remain in place for 15 years to pay off the debt, which will be more than $50 million with interest.
The impact on tax bills will vary depending on the value of a property and whether it’s residential or commercial. A person with a home valued at $500,000 for tax purposes would pay another $80 yearly, for example.
Two members of the nine-person Town Council had opposed holding the referendum: Mayor Will Haynie and Councilwoman Brenda Corley. On Jan. 10 they joined a unanimous vote to do as voters asked and borrow the $50 million.
An office and warehouse development encompassing nearly 500,000 square feet of new construction is in the works for northern Mount Pleasant.Charlotte-based developer Cameron Property Co., an affiliate of Madison Capital Group, wants to build three buildings on about 60 acres northwest of the Faison Road and Park Avenue Boulevard intersection, according to plans presented to state environmental regulators.The proposed structures, in the master-planned Carolina Park development, will serve as flexible space with offices in the fr...
An office and warehouse development encompassing nearly 500,000 square feet of new construction is in the works for northern Mount Pleasant.
Charlotte-based developer Cameron Property Co., an affiliate of Madison Capital Group, wants to build three buildings on about 60 acres northwest of the Faison Road and Park Avenue Boulevard intersection, according to plans presented to state environmental regulators.
The proposed structures, in the master-planned Carolina Park development, will serve as flexible space with offices in the front and storage or showrooms in the rear, according to Lance Ravenscraft with Madison Capital Group.
“Technically, everything is good to go,” he said. “It’s a great piece of real estate. The focus is on closing the land (purchase) right now.”
Plans show the largest building will be 187,100 square feet. A second structure will be 181,790 square feet while a third would be 113,400 square feet. More than 400 parking spaces also are planned with the project.
Site plans call for the structures to be up to 42 feet high, but Ravenscraft said the clearance will probably be about 10 feet less than that, with a height similar to the nearby Costco Wholesale store.
He foresees the business park as having tenants that need office and storage space such as biomedical companies or those that make items such as home building products.
“I can’t see it being a distribution site,” he said. “They all want to go up Interstate 26.”
Ravenscraft also pointed to tight credit markets and high construction costs as affecting the timing of future site development.
“I don’t foresee construction starting anytime soon,” he said.
Carolina Park spokesman Brian Keels confirmed the proposed development and said the land use has long been a part of the community’s master plan.
“That area has already been zoned for light industrial,” Keels said. “There just hasn’t been that much demand for things in the trade area in Carolina Park.”
The 1,700-acre Carolina Park development is mostly a residential neighborhood that also includes a hospital, other health care services, schools, fire station, library, churches, senior care facilities, apartments and commercial enterprises.
The wooded, undeveloped tract being eyed for flex development is owned by Chris Marino of Lerato LLC of Mount Pleasant. Marino did not respond for comment on the proposed project.
The land has not changed hands, Ravenscraft said.
The property sits between Charleston Ear, Nose, Throat & Allergy and Gerber Collision & Glass on Faison Road. A storage facility is planned just north of the Gerber site.
The property also abuts the southern portion of Mount Pleasant Regional Airport’s clear zone.
Elliott Summey, CEO of the Charleston County Aviation Authority, which owns the East Cooper airfield, said he doesn’t think the proposed development will interfere with aircraft operations since it’s not directly in line with the runway.
He also noted the residential development that has sprung up closer to the airfield in recent years as posing more of a threat to aircraft operations.
Mount Pleasant Mayor Will Haynie was not familiar with the proposed business park and said the town is not involved in the project because it is part of the Carolina Park planned development agreement that has been in place for several years.
“If it fits the master plan and they don’t need any major changes, it just goes in,” the mayor said. “I just hope it’s not a storage facility.”
Sunsafe and sweatproof permanent makeup services are now available at Physician's Plan in Mount Pleasant, SC with artist Tracy GonzalezPhysician’s Plan is proud to announce Permanent Makeup Services with artist Tracey Gonzalez at the Mount Pleasant, SC location.With this new service, Mount Pleasant residents and visitors have access to a professional and reliable makeup solution that will help them enhance their own feature...
Sunsafe and sweatproof permanent makeup services are now available at Physician's Plan in Mount Pleasant, SC with artist Tracy Gonzalez
Physician’s Plan is proud to announce Permanent Makeup Services with artist Tracey Gonzalez at the Mount Pleasant, SC location.
With this new service, Mount Pleasant residents and visitors have access to a professional and reliable makeup solution that will help them enhance their own features and feel good in their own skin.
Ms. Gonzalez says “I have a passion for keeping up to date with the most advanced techniques. Gaining knowledge & using the highest quality products. Dedication to perfection in my work.”
These new permanent makeup services are designed with your safety in mind, and they’re sun-safe and sweat-proof.
Permanent makeup services now available include lip blush, powder brows, nano brows, shaded liner, and lash enhancement liner.
Lip Blush will enhance the natural beauty of the lips by improving the lip size, definition, color and by correcting and enlarging the shape.
Powder Brows is a special eyebrow shading technique that emphasizes the natural contours of the eyebrows. Unlike Microblading treatment where hairs are drawn, the technique creates a soft, natural look. It is suitable for all skin types.
Nano brows are created using a digital machine that creates hair-like strokes similar to microblading. Nano service is superior to Microblading in that it allows you to have fully saturated hair strokes with better retention, less trauma to the skin, and provides you with a smoother healing process.
Shaded liner will give you a subtle shaded pencil look that will accentuate and correct the natural shape of the eyes, and give the appearance of uplifted eyes.
The lash enhancement liner is used to add color to the lash line, either upper or lower, which makes the eyelashes look darker and fuller. This results in eyes that appear more awake and open, with a defined, brightened, and accentuated look. Anyone using mascara or eyeliner would like this treatment.
Ms. Gonzalez says “I work closely with you to create what will enhance your natural beauty and boost your confidence.”
Physician’s Plan in Mount Pleasant is located at 1705 Beaucastle Rd #101.
For appointments and more information call 843-606-3333 or visit PhysiciansPlan.com.
About Physician’s Plan
Physician’s Plan is a leading medical spa, aesthetics, and weight loss practice with locations throughout North and South Carolina. Our team of board-certified physicians.master injectors, and certified wellness coaches provide a range of services including medical weight loss, anti-aging, skin care, health and wellness solutions. We offer customized treatment plans that are tailored to the unique needs of each individual patient, with a focus on safe and effective results. At Physician’s Plan, our mission is to empower our patients to look and feel their best, through a combination of innovative treatments, expert guidance, and compassionate care. To learn more about our services or to schedule an appointment, visit our website at www.physiciansplan.com
MOUNT PLEASANT — A prohibition on new apartment and condominium developments has been extended for a seventh year, until mid-March 2024.Previous plans to extend the town’s apartment and condo ban into 2025 were scaled back just before the most recent moratorium extension was approved.Municipalities need a justification to impose a moratorium, and the latest reason for Mount Pleasant is that more time is needed to rewrite zoning regulations to match up with the town’s Comprehensive Plan.Previously, the m...
MOUNT PLEASANT — A prohibition on new apartment and condominium developments has been extended for a seventh year, until mid-March 2024.
Previous plans to extend the town’s apartment and condo ban into 2025 were scaled back just before the most recent moratorium extension was approved.
Municipalities need a justification to impose a moratorium, and the latest reason for Mount Pleasant is that more time is needed to rewrite zoning regulations to match up with the town’s Comprehensive Plan.
Previously, the moratorium was said to be needed so that the town’s infrastructure could catch up to its rapid population growth.
A 180-day moratorium was imposed in 2016, and after it expired the town imposed a new one in March 2017 that’s been in place ever since.
Mayor Will Haynie said the zoning code update should be accomplished within a year, so a two-year extension of the moratorium was not needed.
“We all agree that governing by moratorium is not the best way to do that,” he said, just before Town Council’s unanimous vote on March 14, with Jake Rambo absent.
The town’s rapid development and population growth, and the resulting traffic, has prompted residents to elect Town Council members who pledged to slow things down. And so they have.
In addition to the moratorium, Mount Pleasant limits annual building permits, particularly for multi-family buildings. Even without a moratorium, there are no permits left this year for apartments or condos.
An earlier permit limit was in place from 2001 into 2008, and focused on single-family homes.
More recently, the town greatly increased its impact fees for development, reduced the allowed height of new buildings in many areas, and has been changing zoning rules to allow fewer dense residential developments.
Charleston Trident Association of Realtors representative Josh Dix was the only person to address council members prior to the moratorium vote. He urged that they not approve it.
“In order for us to plan for the next generation we need housing options, and single-family homes are not the only answer,” he said.
With all the restrictions, some residents may wonder why some new apartment complexes have been built nonetheless. Just two months ago, the 224-apartment Atlantic Beach House opened on Ben Sawyer Boulevard.
That apartment complex was initially blocked by the town in 2015 but was later allowed as part of a 2017 settlement that ended a lawsuit against the town.
Growth and development was a top election issue in the town in 2015, and Mount Pleasant became the most-sued municipality in the state for development-related disputes.
Other apartments created in recent years were either approved prior to the moratorium or allowed under existing development agreement contracts with the town. The last time a new apartment development was submitted to the town for review was in 2015.
The town moratorium has since 2019 included an exception for “attainable” below-market-rate housing, but no such apartment or condo developments have been proposed.