Published May 23, 2013
Gateway Development will now begin negotiating a memorandum of understanding with the foundation, which announced the selection Wednesday.
“We have two highly qualified finalists, and we were very impressed with their professional credentials and their vision for partnering with the Horizon Project Foundation,” said Michael Maher, chairman of the nine-member selection committee for the foundation, in a news release. “Ultimately, there can only be one master development team for the project, and we are eager for (the foundation) to begin its negotiations with Gateway Development to fill that role.”
The Horizon project will redevelop 20 acres in downtown Charleston along the Ashley River and adjacent to the Medical University of South Carolina. The project is being run by the Horizon Project Foundation, which supports the city of Charleston and the Medical University of South Carolina Foundation. The Horizon foundation has performed predevelopment work and will provide that work to the master developer.
Planners hope to establish a life sciences research cluster, incubators, MUSC clinical research centers, commercial mixed-use development, recreational facilities and residential units.
In February, the city and Horizon foundation named two finalists, Greenville-based Hughes Development Corp. and Atlanta-based Gateway Development Services, the eventual winner.