Noisette makes first sales offering of Navy base parcels
By Dennis Quick Senior Staff Writer
The Noisette Co. has taken a major step in its redevelopment of the former Charleston Naval Base by offering six land parcels for sale.
The parcels range from a little more than an acre to nearly 14 acres and from $830,000 to $13.6 million. The properties are planned and permitted for a total of 560,000 square feet of office space, 175,000 square feet of retail space, 83,000 square feet of flex space and 576 multi-family residential units. Space for a 100-room full-service hotel is also included.
The properties are the first Navy base parcels Noisette has offered since the company’s March 2001 announcement of its 3,000-acre North Charleston urban redevelopment plan. Noisette is directly responsible for revitalizing 340 acres of the Navy base.
The company is advising the city on the redevelopment of the remaining acreage outside of the Navy base, including the Park Circle, Liberty Hill, Century Oaks, Cameron Terrace, Oak Park and Old Village neighborhoods.
Since the beginning of 2004, Noisette has renovated and leased 80,000 square feet of office space on the Navy base, restored a 1930s-era warehouse as a building arts and design center, and completed the $6 million Riverfront Park.
Noisette has on its drawing board plans for a historic inn complex comprised of three admiral’s houses. Other Navy base plans include 70 lofts, a nonprofit resource center and a 12,000 square-foot performing arts center.
Design and engineering of major infrastructure improvements on the Navy base will be completed by third-quarter 2006, with construction following in the fourth quarter, according to Noyes.
Dennis Quick is senior staff writer for the Business Journal. E-mail him at dquick@charlestonbusiness.com.
A listing of Noisette parcels on the former Navy base in North Charleston.
Parcel A: 1.12 acres permitted and planned for 27,000 square feet of office space, 12,500 square feet of retail space and 140 multi-family residential units averaging 1,200 square feet in up to eight stories. Cost: $3.7 million.
Parcel B: 1.74 acres permitted and planned for 94,000 square feet of office space, 20,000 square feet of retail space and 24 multi-family residential units averaging 1,200 square feet in up to six and eight stories. Cost: $2.4 million.
Parcel C: 2.55 acres permitted and planned for 54,000 square feet of office space, 43,000 square feet of retail space and 124 multi-family residential units averaging 1,500 square feet in up to six to eight stories. Cost: $5.3 million.
Parcel D: 4.13 acres permitted and planned for 83,000 of flex space. Cost: $830,000.
Parcel E: 5.4 acres permitted and planned for 120,000 square feet of office condominiums in up to six stories. Cost: $2.4 million.
Parcel F:13.9 acres permitted and planned for 265,000 square feet of office space, 100,000 square feet of retail space, a 100-room full-service hotel and 288 multi-family residential units averaging 1,300 square feet (these could be residential or live/work condominiums). Cost: $13.6 million.
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