Quarterra Opens South Carolina Community

Cormac Apartments. Image courtesy of Quarterra

Quarterra Multifamily, along with its joint venture partner Cresset Partners, has officially added 303 units to Charleston, S.C.’s multifamily market, with its opening of Cormac Apartments. The joint venture started construction on the property in April 2020, having topped it off in September 2022.

According to Quarterra, the project was capitalized in the Cresset Diversified Qualified Opportunity Zone Fund I. The vertically-integrated developer tapped its in-house general contractor, Quarterra Multifamily Builders to construct the community, while Axiom Architecture served as the project’s architect and BB+M Architecture was in charge of interior design. The project team also included Thomas & Hutton for civil engineering and landscape architecture services, as well as Terracon Consultants for geotechnical engineering.

Now completed, Cormac Apartments offers studio, one- and two-bedroom apartments ranging from 540 to 1,510 square feet. The units were built to include Nest smart thermostats, keyless entry, stainless steel appliances, quartz or granite countertops, hardwood-inspired flooring with select units featuring pendant lighting. The community’s amenities include a rooftop terrace, pool, clubhouse, fitness center, bike storage room, three courtyards, coworking spaces, package lockers and rentable storage space. Cormac Apartments was also built with a controlled-access three-story above-grade parking facility and 19 electric vehicle charging stations. The community also includes 13,068 square feet of retail space and two public ground-level courtyards.

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Located at 1310 Meeting Street Road, Cormac Apartments is approximately a quarter mile away from I-26, which connects residents to the area’s employment centers. While it is only roughly three miles away from downtown Charleston and its restaurant and retail options, the community is also next to local attractions like The Refinery, Pacific Box & Crate and The Wonderer.

Creating communities in the Carolinas

Cormac Apartments marks the first joint venture between Quarterra Multifamily and Cresset Partners. For Quarterra, the firm also partnered with Nuveen Real Estate to develop the 312-unit Emblem Cane Bay North in Summerville, S.C. The joint venture broke ground on the garden-style apartment community in December, representing the start for the first of two phases for the overall development.

Located nearby in Charlotte, N.C., Quarterra recently started leasing at its 273-unit Miller & York development. The Charlotte property is scheduled for completion in July, after having started construction in July 2021. Pat Foster, development manager with Quarterra, previously told Multi-Housing News that the firm is considering expanding its footprint across the Carolinas considering they are top-performing markets.