The west side of the Charleston peninsula appears to be a new hot spot for hotels, with several projects proposed for the area.
The site of a former Wendy's restaurant on Cannon Street has been sold to a lodging developer, while the Medical University of South Carolina is seeking approval for 250 guest rooms nearby in its 10-story Harborview Office Tower on Hagood Avenue.
Both sites are near the emerging WestEdge mixed-use development across from MUSC and the city's hospital district.
Wendy's opened at 194 Cannon St. in 1978, according to Charleston County tax records. The former restaurant near the Ashley River bridge has been closed for several years.
TCAL Charleston LLC sold the 1.3-acre site May 29 for $7.35 million cash to an affiliate of PeachState Hospitality, according to county property records and the real estate investment company Marcus & Millichap.
PeachState, based in Warner Robins, Ga., manages properties for its sister company, Divine Development. The company lists about three dozen properties on its website, mostly in Georgia, with several more under development.
The Charleston project is its first venture in South Carolina. The developer did not respond to a request for comment.
Charleston's Board of Zoning Appeals and its Planning Commission both approved 175 hotel rooms for the property last year.
Previous plans filed with the city also include extending Hagood Avenue to connect WestEdge site with the medical complex. The adjacent Bruegger's Bagels site was originally part of the development plan but was dropped from the Planning Commission's rezoning request.
Meanwhile, MUSC is scheduled to ask the zoning board Tuesday for a special exception for 250 hotel rooms in its Harborview tower.
The Medical University put the building up for sale last year and is moving employees who work in the offices to other locations. The property is under contract to be sold.
MUSC would have the right to stay in the building for two years after it’s sold, as well as lease 400 spaces in the 641-space parking deck for a decade, according to the listing by the commercial real estate firm CBRE Inc.
The tower was built in 1979 as Summerall Center. MUSC bought it in the late 1980s for about $7.2 million, property records show. The developer could either demolish it or gut it and build around the frame.
A third hotel is also in the works in the area. JJR Development is planning a 69-room extended-stay lodging on the site of a former Pizza Hut restaurant at 210 Spring St. The half-acre parcel across from Courtenay Drive is now being used as a parking lot. The city's Board of Architectural Review granted conceptual approval to the design in September.