pc-021918-bz-realestate (copy)

New development slated for upper King Street could replace several buildings near Line Street. Evening Post Industries, parent company of The Post and Courier, is asking the city to approve demolition of the structures on the upper right. The newspaper's visitor parking lot is in the foreground. Leroy Burnell/Staff

A strip of upper King Street buildings is headed for the wrecking ball to make way for a new phase of development.

Evening Post Industries, parent company of The Post and Courier, on Wednesday asked Charleston's Board of Architectural Review to demolish four structures from 631 to 637 King. Another building behind them at 0 Ackerman Court was up for consideration to tear down as well, but action on it will be delayed pending city staff's review.

The board voted unanimously to allow the buildings to be razed.

The oldest of the one- and two-story buildings dates back to around 1955-1959. Those that are occupied are leased by The Harbor Entrepreneur Center and Dig South.

Demolishing the buildings is meant to pave the way for the next phase of construction in the multifaceted Courier Square project on 12 acres bounded by Meeting, Line, Columbus and St. Philip streets.

Plans for the new development have not been presented to the city.

The first part of Courier Square is set to open during the first half of this year, including The Guild, a 226-unit apartment building nearing completion beside The Post and Courier.

Greystar, the largest apartment operator in the U.S., plans to move its headquarters and about 200 employees from downtown Charleston into part of the mixed-use structure once it's completed, possibly by this summer.

Ashley Village Townhomes

The 260-unit Ashley Village Townhomes in North Charleston changed hands earlier this month for $21.84 million. Provided

Changing hands

Another Charleston-area apartment complex changed hands recently.

Dallas-based private equity firm Lurin Capital bought the 260-unit Ashley Village Townhomes at 3311 Mountainbrook Ave. in North Charleston for $21.84 million, or $84,000 per key, from Arizona-based PEM (Professional Equity Management) Real Estate Group, according to real estate firm Berkadia.

PEM purchased the site, formerly called Pepperhill Townhouse Apartments, for $16.3 million in 2016.

Built in 1970, the property off Ashley Phosphate Road near Stokes Volkswagen features 1-, 2-, and 3-bedroom floor plans. Amenities include a renovated clubhouse, business center, athletic center, pool, playground and laundry room.

New homes

A new Mount Pleasant neighborhood is offering tours of move-in ready homes ahead of what is expected to be a robust spring selling season.

We're starting a weekly newsletter about the business stories that are shaping Charleston and South Carolina. Get ahead with us - it's free.


The Midtown development by John Wieland Homes and Neighborhoods features five plans, ranging in size from 2,500 square feet to 3,300 square feet, some with a third floor and three with rooms above an alley-loaded detached garage. Prices begin at $679,990.

Tours start at 1380 Founders Way 10 a.m. to 6 p.m. each day except Wednesdays and Sundays, when tours run from noon to 6 p.m.

Midtown is off Hungryneck Boulevard, behind the Walmart-anchored Wando Crossing Shopping Center.

Building award

A West Ashley apartment development recently brought home top honors for its method of construction.

The 220-unit 17 South complex off Savannah Highway picked up the award for best development of a multifamily project during the 12th annual ICF Builder Awards in Las Vegas.

ICF stands for insulated concrete form. ICF construction uses stackable rigid foam blocks filled with reinforced concrete to create buildings that are attractive, durable, energy-efficient and disaster-resistant.

The apartments are a joint venture of property management and development firm The Kalikow Group of Westbury, N.Y., EYC Companies of Charleston and Breakers Capital Partners of Miami.

The awards recognize milestone projects that have advanced the industry. Winners were selected in nine categories. Multifamily was one of them.

Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.