The developers of a long-planned project that would create a mix of homes, research-based office space and retail along the Ashley River have changed the name of the development to WestEdge to better reflect its identity with its location.
The West Side development, formerly known as the Horizon Project, is on about 22 acres owned by the city of Charleston and the Medical University of South Carolina.
The first phase — an office building and an apartment building, both with restaurants and retail on the first floors — will go before the city’s Board of Architectural Review next week for initial approval. Gateway Development Services, which is in charge of building the project, hopes to break ground on the two buildings by the end of this year with a completion date of late 2017 or early 2018.
The entire project is expected to be built over a 15- to 25-year period, creating about 3,000 jobs focused on high-technology health care disciplines, such as biotechnology, that will complement the research at nearby MUSC.
The project will be built with private investment while public infrastructure such as streets, parking garages and utilities will be funded through a special tax district the city approved in 2008. That district funnels property taxes generated by new development back into the project for public benefit expenses.
The apartment building going before the city’s BAR will have about 350 units and will surround a parking garage that can be used both by residents and office workers. The total investment in the two buildings is estimated at $200 million.
The project also launched a new website — WestEdgeCharleston.com — on Friday.
Reach David Wren at 937-5550 or on Twitter at @David_Wren_