I love to see the market diversify in this way! It's great for people who just aren't ready for the whole shebang of a house with a yard and the accompanying mortgage to have a good option for ownership that really works for them!"Today there is a new contender in residential architecture
popping up on city streets, laying claim to new construction as well as renovation projects. Loft living in the Lowcountry may still be new, but it has made friends quickly with both developers and home buyers looking for something with an urban edge in a historic setting.
'A loft is more than a space,' said Kristopher King, a project manager with Wecco of Charleston, a developer specializing in mixed-use projects. 'You’re selling aesthetic, you’re selling a lifestyle. They’re sort of edgy. They’re urban.' They can also be less expensive than traditional construction. There is a void of pricey millwork, framing, doors and other features that can drive up construction costs.
'You’re creating a design aesthetic that attracts the buyer but you’re also spending less money to do so,' King said. 'Instead of doing a terrace that might cost $10,000, $15,000 per unit, you do one roof deck. You help spread out the amenities through the density of the unit.'
Wecco is building a 57-unit loft complex with a commercial component on the ground floor off upper Meeting Street on Cool Blow Street. The project, called One Cool Blow, has presold all but 10 units, with prices ranging from $240,000 for a 785-square-foot unit to $340,000 for a 1,125-square-foot-unit. Fifteen percent of the project is designated as work force housing, which will sell to eligible applicants for $179,000.
'The project is urban and has very flexible floor plans,' King said. 'I think that’s what separates the loft from traditional construction. It’s a more efficient space.'
Bee Street Lofts off Lockwood Drive near the Ashley River Bridges is another new construction project that has brought big-city style to the city’s hospital district and is attracting young professionals and medical students. The loft concept has migrated from urban areas where they often were carved out of old warehouses in low-rent neighborhoods, providing living and studio space for artists, students and others living on a budget.
'I do think it allows a lot of flexibility for people and it doesn’t really cause much alteration to the interior of a building,' said Eddie Bello, director of the city’s Architecture and Preservation division. 'I think it’s a great use and they attract the younger, more vital crowd. I think that’s always good to have that in the city. They allow a higher density. A lot of times they can allow for houses to be a little more affordable.'”
For the full Charleston Regional Business Journal article:
http://charlestonbusiness.com/pub/14_13/news/12266-1.htmlFor One Cool Blow:
http://www.onecoolblow.com/For Bee Street Lofts:
http://www.beestreetlofts.com/For the Cigar Factory:
http://www.cigarfactorycharleston.com/
Hmmmm – though I expect the perfect pair for a trade only comes along once in a blue moon, if you happened to find your match, this could be very interesting!
