Charleston Regional Business Journal
By Ashley Barker
Published August 5, 2014
Luxury apartments being constructed at Patriots Point
More than 300 new luxury apartment units in Mount Pleasant are expected to be ready for occupants in the spring of 2016.
Real estate development firm Daniel Corp., in partnership with life insurance company MetLife Inc., recently broke ground on Bridgeside at Patriots Point.
The two companies purchased 16 acres of land from LRA Charleston Bridgeside LLC in December 2013 for $7.5 million, according to Pat Henry, president of Daniel Corp.’s commercial business operations.
Three nearly identical buildings with 108 units each will be built along Harry Hallman Jr. Blvd., between the Ravenel Bridge and the College of Charleston baseball facility at Patriots Point. Four stories of units will sit on top of a parking area, according to Henry.
Daniel Corp. and life insurance company MetLife Inc. are building a 324-unit luxury apartment community in Mount Pleasant called Bridgeside at Patriots Point. Three nearly identical buildings will cost about $65 million and will sit on top of a parking area.
About $65 million will be spent to build the apartment community, which will include studio, one-bedroom and two-bedroom floor plans along with a clubhouse, pool area and fitness center. Parks and jogging trails to the Ravenel Bridge are also planned.
Henry said it is too early to comment on a price range for the units, but he said they will be “among the finest luxury units in the area.”
“We expect to have a good mix of people. With all the infrastructure in place, with parks, sidewalks and public areas, access to water, the opportunity to enjoy athletics facilities and, of course, the bridge, we very much expect an active lifestyle,” Henry said.
He expects about 200 jobs will be created in the construction phase and a dozen full-time positions will be available once the facility is open.
Atlanta-based Wakefield Beasley and Associates is responsible for the project’s architectural design, and site and civil engineering services will be completed by Seamon Whiteside and Associates in Mount Pleasant. Choate Construction has been named as the project’s builder.
Daniel Corp. and MetLife recently jointly completed the Rocca Villas apartments in the Buckhead community near Atlanta. Henry said they’re also building hotels, offices and residential facilities in a multiphase development in the Midtown district of Atlanta that will span several city blocks.
The two companies recently acquired 6,000 acres of property known as the Reynolds Plantation, which is about 50 miles east of metro Atlanta, and are working on development plans for that now.
“We have a good working relationship with MetLife,” Henry said. “I’ve done a lot of work in Charleston through my career, and we’ve been anxious to return to the Charleston community. We’re so excited about this site and the opportunity to positively impact this area. It’s not lost on us that when folks are coming over that bridge that this will be the first thing they see.”
Reach staff writer Ashley Barker at 843-849-3144 or @AshleyNBarker on Twitter.