I’m confused. Luxury condos across from the new cruise terminal?

Perhaps someone out there can shed some light on this for me. Why are luxury condos going to be built across the park from the new proposed cruise terminal?  I get the hotel. I get the restaurants and spa.  Makes complete sense near the SC Aquarium and the Maritime Center and frankly the area could use a little more activity.  I applaud it.  But condos? At $800/sq ft?

There must be something I just don’t know.  Help me out here.

Image from the Post and Courier

Here’s an excerpt and rendering from the Post and Courier article “Downtown condo project moves forward”

“The development is a rarity in today’s real estate market — a plan to develop condos that will sell for nearly $800 a square foot, while other condo plans have stalled or gone into foreclosure. Many developers have turned condo plans into apartment projects.

The upscale hotel and condominium building is planned for the corner of Calhoun and Concord streets in Charleston, near the South Carolina Aquarium.

The courtyard-style, six-story building will house a 70-room 4-star-quality hotel, about 50 condos, and businesses including a restaurant and spa at Calhoun and Concord streets. Condo owners will be able to pay for hotel services, such as housekeeping.”

This entry was posted in Charleston Peninsula Real Estate, Developments, Luxe Life and tagged , . Bookmark the permalink.

One Response to I’m confused. Luxury condos across from the new cruise terminal?

  1. Agricola says:

    Because it is what Joe Riley wants. Because the developer is a supporter. Because this idea has been aborning long before the cruise terminal was even thought of, and before the cruise ships began to visit. It’s all about the benjamins…..

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