The Atlantic at Grand Oaks apartments

Construction recently began on the 316-unit Atlantic at Grand Oaks apartment complex in West Ashley. Provided/Middle Street Partners

An apartment development valued at $48 million is coming to West Ashley.

Charleston-based Middle Street Partners said it has broken ground on the 316-unit Atlantic at Grand Oaks complex on Ashley Gardens Boulevard. It's near West Ashley Circle at Bees Ferry Road and Glenn McConnell Parkway.

The rental complex will feature 16 two- and three-story buildings and a 7,000-square-foot clubhouse with a fitness center, cafe and community kitchen overlooking a pool.

The 26-acre site also will feature large open spaces and several grand trees for which the property is named.

Apartments will include kitchen islands with granite countertops, 9-foot ceilings and screened porches.

Live Oak Contracting of Jacksonville, Fla., is the general contractor. Construction should be completed in October 2018.

Now renting

A new 240-unit apartment complex is now open in Goose Creek.

The Passage at 100 Underwood Lane, owned by Woodfield Investments and managed by CF Real Estate Services, is off U.S. Highway 17A, south of U.S. Highway 176. It includes a dog park, horseshoe pit, bocce ball, cabanas, saltwater pool and fiber-optic Internet. Yoga and spin studios as well as instructor-led classes are also available.

Woodfield called the floor layout and square footage of the apartments "significantly greater than average and include the only studio floor plan in the submarket."

Refinanced

A 112-unit James Island apartment complex recently underwent refinancing.

Hunt Mortgage Group, which finances commercial real estate throughout the U.S., provided a 12-year Fannie Mae loan of $12.4 million to refinance James Towne Village, comprised of nine two- and three-story buildings at 3 Sawgrass Road.

The borrower for the 37-year-old property off Folly Road near Maybank Highway is New James Towne Village Apartments LLC.

The owners acquired the property in January 2016 for $9.8 million, or $87,500 a key, and have invested $1.1 million in improvements, including new roofs, siding and upgraded amenities, according to Hunt.

The 7.6-acre property includes 200 parking spaces, a clubhouse with a leasing and laundry center, tennis court, dog park, playground and swimming pool.

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Dual uses

An affiliate of real estate developer The Beach Co. could soon start construction on an office and retail building in Mount Pleasant.

The three-story, 20,000-square-foot structure is slated for 730 Coleman Blvd. beside a Starbucks in Brookgreen Town Center.

The town's Design Review Board will consider final approval of the plans Wednesday.

Also, on the board's agenda is a plan to add 19 parking spaces in front of Barnes & Noble  bookstore at Mount Pleasant Towne Centre. The proposal calls for removing an access road to a traffic circle near the store and modifying existing parking islands to accommodate the extra spaces.

Also to be considered for preliminary approval is a proposal for a new townhome complex at 1047 Chuck Dawley Blvd. Plans call for 10 three-story buildings on 24 lots on Gatch Court, south of Myrick Road. The development, called Sea Island Hamlet, would include first floor parking with two floors of living space upstairs.

 

Reach Warren L. Wise at 843-937-5524 or warrenlancewise@twitter.com.