Greystar gets D.C. area project

Charleston-based multifamily developer Greystar Partners has a lofty project on the books.

The Broad Street firm is being tapped to build a 25-story, 404-unit apartment high-rise in Tysons Corner, Va., a bustling suburb just outside Washington, D.C.

The project is part of a high-profile 28-acre development that's planned near a future commuter rail station.

Greystar's involvement calls for it to buy the land for its tower from the local project developer by the end of the year for an undisclosed price. The high-rise would be the first apartments to go on the property.

"The tower would be a striking change to the Tysons landscape," according to a recent report in the Washington Post.

Led by former S.C. Commerce Secretary Bob Faith, Greystar oversees more than 187,000 apartments, making it one of the top multifamily property managers in the country. Its local development portfolio includes the 283-unit Daniel Island Village. It also is proposing to build 201 apartments at Spring and Meeting streets in downtown Charleston.

Bayer necessities

A long-standing local lender is branching out.

Bayer Heritage Federal Credit Union broke ground last week on a new location in Goose Creek that will replace a six-year-old office at 650 College Park Road in Ladson. Karen Braham, manager, said the 4,800-square-foot "forever location" is scheduled to open Oct. 1 at 309 N. Goose Creek Blvd,, previously the site of Jim Walter Homes.

"Our business has done so well we felt it was best for our members to build a freestanding facility," she said.

The lender still maintains its original local branch at Bushy Park, where Bayer Corp. once operated a plant.

The credit union also has offices in its home state of West Virginia as well as in Pennsylvania and Texas. It was federally chartered in 1957 as Mobay Employees Federal Credit Union. Locally, it served workers at the former Mobay Chemical plant, which later morphed into Bayer.