A development of 260 cottage units to be built is en route to North Charleston.
Based in Birmingham, Alabama Capstone Communities will build Cottages in Ingleside on the last residential plot available in the master plan England community off US Highway 78 and Interstate 26.
Capstone paid $5.7 million for the 25-acre site off Ingleside Boulevard last December. The plot is adjacent to Botany at Ingleside Apartments at 3000 Cypress Lake Road.
Construction will begin in the fall, with the first units expected to be ready next winter and completed by summer 2024.
The community will be developed with a “new urbanism” style, with sidewalks, pocket parks and open green spaces.
Designed by Birmingham Nequette Architecture & Designthe project will offer a mix of lofts, one- and two-story cottages, as well as two-story townhouses, each with a private outdoor courtyard.
The chalets will feature nine- to 12-foot ceilings, faux wood floors, integrated washers and dryers, a smart home technology package, 24/7 on-call maintenance, and an optional locked garage. .
Neighborhood amenities include courtyards with pavilions and grilling stations, a central clubhouse with a resort-style pool, state-of-the-art fitness center, dog park, and valet bin.
Capstone currently has similar projects under construction in South Carolina, including one within Nexton near Summerville and another in Myrtle Beach.
Outside of Palmetto State, Capstone’s build-to-rent footprint spans across the Southeast with five other communities being developed in Georgia, Alabama, North Carolina and Florida.
A Los Angeles-based real estate investment firm specializing in affordable housing recently acquired a Ladson apartment complex for $31.3 million.
A subsidiary of Lincoln Avenue Capital bought the 192-unit Planters’ Retirement Apartments, at 4370 Ladson Road in mid-August for around $163,000 per unit. The multi-family complex is renowned Palm trees at Ashley River.
Rents will be capped at 60% of the Charleston area median income.
“This agreement represents our deep commitment to providing quality, affordable housing for families and individuals at a time when housing costs are rising throughout South Carolina and in communities across the country,” said Jeremy BronfmanCEO of Lincoln Avenue Capital.
The buyer worked with the SC State Housing Finance and Development Authority on the purchase. The acquisition was financed by a loan from the National Equity Fundwhich supported Lincoln’s previous acquisitions in a wide range of markets.
Built in 2005, Palms at Ashley River offers two- and three-bedroom units as well as a clubhouse, pool, business center, and playground.
A national home builder plans to build 18 high-end homes in a developing community on the Cainhoy Peninsula in Charleston.
Based in Pennsylvania Toll Brothers will offer the home sites and six one- and two-story luxury home designs in the Hopewell neighborhood Point Hope off Clements Ferry Road. Prices will start in the $600,000 range.
Featuring contemporary Lowcountry and Coastal architectural styles, home designs range from 2,091 to 2,994+ square feet. They will offer three to five bedrooms, 2½ to 4½ bathrooms, and 9-foot ceilings throughout the home to create an airy feel that complements the open concept design.