In May, Pollack Shores broke ground on its first Charleston development after closing on 5.85 acres of land located in the North Morrison (NoMo) district on the Charleston peninsula. The Merchant will consist of 231 units, including studio, one-bedroom, and two-bedroom units. There will be ten buildings – five three-story and five four-story buildings. Amenities include an upscale pool and courtyard with multiple outdoor grilling stations, a luxurious clubroom and a modern fitness center and yoga studio. The project’s design has been approved by the Charleston Board of Architectural Review, meeting the city’s extremely high standard for design and quality.
“This development presented a unique opportunity to develop a surface parked project on the peninsula in Charleston, allowing us to achieve an attractive cost basis relative to sales in the area,” said Palmer McArthur, Vice President of Development. Spanning 5.85 acres, a structured parking deck is not required, allowing for a more cost-effective design that is rarely available in Charleston.
Being located in the NoMo district, residents will enjoy immediate proximity to both high-end and casual restaurants, as well as breweries. In addition, the district offers unparalleled connectivity to the Charleston MSA, with direct access to I-26 and Highway 17. Both Mount Pleasant and West Ashley are only an eight-minute drive away. The airport is only 14 minutes away.
“We are excited to get started on our first project in Charleston and our sixth in the Carolinas region,” says McArthur. “The Merchant offers an attractive opportunity to build in a high barrier to entry market that’s experiencing explosive growth.” Pollack Shores expects to deliver first units in mid-2019, with the project being completed in late 2019.