Exploring Charleston’s Neighborhoods on the Rise
Charleston is growing and expanding faster than any other time in its history. With the metropolitan area now stretched across three counties and pockets of our historical city continually evolving, it can be hard to keep track.
In this new series, we’ll be taking a look at the areas that are changing the most. We’ll look at recent developments and upcoming projects that are shaping areas of our community as well as provide insight into the people living and working in each area and the overall ambiance each neighborhood embodies. Before we dive in over the next few months, here’s a quick summary to give you the lay of the land (pun intended):
- Upper Peninsula – Ask anyone who’s lived in Charleston for more than 10 years, and they will probably talk about times where venturing north of the crosstown wasn’t part of everyday life. If you stuck by this sentiment today, you’d be missing out on some of the city’s best offerings. So much has sprung up in the past decade, we could create an entire series just focused on the neighborhoods north of the Crosstown. From the bustling bar and restaurant scene on Upper King to the eclectic neighborhoods that surround Hampton Park, and stretching north through what locals call “the neck” of the peninsula, we’ve watched gentrification take shape in the form of incoming new residents, a variety of businesses and commercial ventures.
- Upper Meeting – Dubbed “NoMo,” which is short for North Morrison, this area is home to some of Charleston’s best barbecue. Just a few blocks from the epicenter of downtown, developers are noticing this area for its lower land prices and freedom from strict zoning and regulation that comes with developing in historic districts. All those skyscrapers you see as you exit the freeway onto the peninsula are mostly building in this area. Adding to the appeal for investors, the area was recently named an Opportunity Zone – a “severely distressed” area where federal tax breaks are offered to developers and investors.
- Reynolds Avenue – Close to Park Circle and convenient to downtown, the Reynolds Ave.
areais poised for development and its residents, investors and business owners care about the direction development takes. Simply Commercial broker Ed Sutton is invested in the transformation and recently played a significant role in deterring a rezoning effort that would have allowed hundreds of trucks to move through the area every day. The community is working hard to create a vibrant and desirable neighborhood for living and working and knew that this type of traffic would hinder their vision for the area.
- Remount Road – Following the closure of the Charleston Naval Base and Shipyard more than 20 years ago, this area steadily declined. It’s difficult to pinpoint changes the changes happening over time, but the energy of the residents and business owners in this area is noticeable and we expect major changes in the coming years. Hispanic business owners who were able to invest in less expensive commercial space have played a role in driving the revitalization of the area and you’ll notice restaurants, grocery stores, repair shops and more.
- Berkeley County – More than 30 people move to Charleston every day, and they need affordable places to live. Housing developments like Cane Bay and the Nexton developments offer new homes with room for families. On the commercial front, growth will continue with the upcoming Volvo plant, more hospitals, and infrastructure to support the rapidly expanding community.
- Johns Island – As many other suburban areas became crowded and expensive, people began to inhabit Charleston’s “rural” suburb. What was once land occupied by sprawling properties, there are now plenty of master-planned developments with hundreds of tract homes. In addition to even more homes, the area will see additional growth to cater to its new residents including new shopping centers and on-trend restaurants. The biggest hindrance to further progress
is concernsfor traffic and resident concerns of overcrowding.
- Mount Pleasant – As one of Charleston’s most desirable suburbs for families, there has been tremendous residential growth mostly sprawling east. We’re going to focus on the notable changes happening at the base of the bridge with new apartment buildings, parking garages, and the mixed-use Ferry Wharf project.
Tags: charleston, real estate, commercial real estate, property management, investment, investment opportunity, charleston real estate, revitalization, gentrification
Please contact us if you have any questions or comments.