By Liz Segrist
Published Sept. 19, 2013
More commercial activity is headed for Upper King Street as construction picks up on the Midtown development in downtown Charleston.
A 10-story, dual-branded Hyatt House and Hyatt Place hotel with 304 rooms will anchor the development. Plans also call for a 405-space parking deck and roughly 33,000 square feet of retail and office space along King Street. The Ordinary restaurant recently opened in part of the retail space.
“With all of the hotels and housing coming online, you have a lot of people on the street walking around, and that creates a need for retail,” CC&T Real Estate Services President Robert Clement said. “You see the area coming back and it’s coming back in a great way.”
Demolition of several vacant structures is set to begin soon for the $80 million development.
Once completed in 2015, the development will include four new buildings and the renovation of two existing structures, totaling 433,000 square feet.
This is the second phase of the Midtown development. The first phase is the nearly completed Elan Midtown, a 200-unit apartment complex developed by Greystar Real Estate Development at Spring and Meeting streets.
Elan Midtown includes commercial components as well. A brokerage firm, deli and fitness studio are all possibilities for storefronts on the ground floor, said Peter Cozens, Greystar’s development director.
“This area of Upper Meeting has become a much more viable space,” Cozens said. “It’s marching in lockstep with King Street.”
Elan Midtown is one of five residential developments planned within less than a mile of one another in this area of downtown, including East Central Lofts, The Cigar Factory, 400 Meeting St. Apartments and the unnamed residential component of the Evening Post Industries’ development.
Evening Post Industries, owner of The Post and Courier, plans to break ground on its 12 acres of downtown property next fall. Its Phase I will be around the corner from the Midtown development.
Spearheaded by Charleston-based Greystar Real Estate Development and Charlotte-based Lincoln Harris, Phase I includes an apartment building with 210 units and roughly 70,000 square feet of commercial space at Columbus and Meeting streets, said Ron Owens, Evening Post Industries’ finance vice president.
Midtown is being developed by Regent Partners of Atlanta, along with Robert L. Clement III and Stuart Coleman, both of Charleston-based CC&T Real Estate Services. Cooper Carry is the architect and DPR Hardin Construction is the general contractor.