Evening Post Publishing Co. Inc. has picked Greystar Real Estate Partners and Lincoln Harris to develop the first phase of the 12-acre Courier Square project in downtown Charleston, it was announced today.
The two companies will build out a vacant 2.8-acre site at Meeting and Columbus streets that would include a mix of apartments, offices and other commercial space, and a parking deck.
“After an extensive evaluation process we are thrilled to be going into this project with experienced and well-respected partners like Greystar and Lincoln Harris”, said Ron Owens, vice president of finance for Evening Post, which owns The Post and Courier.
He said the two real estate firms are in “the early stages of a lengthy development planning and approval process that will confirm the feasibility of the project.”
“We chose them because, like us, they are committed to ensuring that the redevelopment of this high-profile parcel is done in a manner that will prove to be beneficial to the community as well as in keeping with the finest architectural traditions of Charleston,” said Pierre Manigault, chairman of Evening Post. “Our goal is that this project will ultimately be thought of as an enduring asset to the city and that every Charlestonian will take pride in it.”
Charleston-based Greystar is a national apartment investor and developer that manages 200,000 residential rental units in about 100 markets around the country. Locally, the firm is building a luxury apartment complex two blocks south of the Courier Square site.
“We look forward to continuing our close working relationship with the city and the surrounding neighborhoods to develop this transformational project on upper Meeting Street,” said Todd Wigfield, Greystar’s managing director of development.
Lincoln Harris is a Charlotte-based full-service commercial real estate company and an affiliate of Lincoln Property Co.
“We are confident in the Charleston real estate market,” said Chip Mark, senior vice president of Lincoln Harris’ Charleston office. “There is strong demand for our proposed product mix and Courier Square will be ideally located to meet that demand.”
Mayor Joe Riley described the properties that make up Courier Square as “pivotal” and said that the expectations of the owner and developers “are very high for the quality of design and construction and they are committed to community involvement every step of the way. For this we are grateful.”