I love being right. Back in January of this year, I wrote a post called “Charleston Shines in 2012, So What’s on Tap for 2013?” In that post, I predicted that the Cigar Factory would rise again. Many of you have asked me about the luxury condos planned, but all I had to tell you was that it was still up in the air after the bank financing the original project shuttered its doors. While rumors have been swirling for many, many months, and I had actually heard a bit of what was going on from a gentleman-in-the-know who happens to be one of my blog subscribers, it wasn’t enough information to give it to you straight.
Until this morning. Over a cup of coffee on my piazza, I opened the newspaper to find this article “Charleston
Here’s an excerpt:
An investment group is closing in on a deal to reignite the long-stalled development of The Cigar Factory on the Charleston peninsula. Instead of residential condominiums as previously envisioned, the buyer of the historic vacant property is planning a mix of office and retail uses, said Richard Morse, a broker with Palmetto Commercial Properties, which is working with Roadstead Real Estate Advisors to lease the space.
So there will be no condos – only commercial and retail. Frankly, I think that’s a much better use for it in that location, and it could be an excellent hub of activity. However I regrettably admit that without the Cigar Factory, there is a serious dearth of true loft-style condos in Charleston – and there is nary an historic building or warehouse left to convert. 🙁
Regardless, I am happy the Cigar Factory will rise again, in whatever form it takes as it’s an extraordinary building. Originally built as a textile (cotton) factory in 1880, it became known as the Cigar Factory when the American Cigar Company purchased it in 1910. The Preservation Society even held a Seven to Save fundraiser there in a fantastic program they call “This Plate Matters“. Check out local photographer Olivia Rae James’ post for some gorgeous photos of the interior during the event.
And if you want to see the original promo video for when the $350,000-$1,600,000 condos were on the market, click play below.