Charleston Peninsula Development Update: Waterfront Hotel planned for SC State Ports Authority site.
Yet another hotel in Downtown Charleston? Yes. A world-class luxury hotel is being planned for a premier waterfront location in Downtown Charleston. The current location of the South Carolina Ports Authority headquarters and Fleet Landing Restaurant (176 Concord St. and 186 Concord St.) were purchased by Lowe Enterprises for $38M in January.
Lowe plans to redevelop the site to include a 225-room luxury hotel on the Ports Authority site. The project also includes extending the existing Waterfront Park to join the land surrounding the hotel. Public access to the waterfront should always be an important consideration and this project appears to have an opportunity to expand that access.
Developers expect to break ground on the project in 2019, and anticipate the hotel opening in 2021. Lowe Enterprises is not new to the Charleston area hotel and resort industry as they have owned and operated the Wild Dunes Resort on the Isle of Palms for 25 years.
Several attempts have been made by the city planning department in the past year to limit the development of new hotels on the peninsula. Most recently in February, the Charleston City Council approved a measure to remove 86 properties from the accommodations overlay zone. According to city planners, the properties include parks, parking garages and office buildings. Public hearings will be held prior to the final vote on this measure in the coming months. If the final vote passes, this measure will make it more difficult for those property owners to apply for hotel redevelopment projects in the future.
Contact me to explore the endless opportunities Charleston has to offer its residents and investors.
Bonnie Sitsis, REALTOR®, The AgentOwned Realty Co. 843.973.0062