East West Partners Starts Work on SC Community
The property represents the first new condo development on Charleston's peninsula in years.
Charleston, S.C.—East West Partners has broken ground on The Gadsden, a condominium development in Charleston, S.C. The property represents the first new condo development on Charleston’s peninsula, which is the location of the older part of the city, in a number of years.
The 76-unit Gadsden will feature one-, two-, and three-bedroom units with prices ranging from $400,000 to more than $1 million in five stories over a level of parking. A private rooftop club will include a pool, outdoor kitchen and views of Charleston Harbor and the recently completed Gadsdenboro Park below.
According to Miller Harper, partner-in-charge in South Carolina for East West Partners, the development will meet pent-up demand for new residences in one of the country’s most historic cities. Charleston is also a growth city. Currently, the unemployment rate is 3.5 percent in metro Charleston, according to the Census Bureau. A year ago, the rate was 4.5 percent.
East West is no stranger to Charleston. In late 2016, the company completed construction of Tides IV, a 54-residence marsh-front condo project in suburban Mount Pleasant, S.C. Other previous efforts include One Vendue Range and the City Gallery at Waterfront Park.
Around the corner from The Gadsden, East West Partners has acquired 299 East Bay Street to serve as its Charleston headquarters and sales center; the office opened this month. Construction work on the Gadsden is expected to take 20 months with completion scheduled for Q3 2018.
