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Good afternoon. Thanks to everyone who joined us for our Inside Business LIVE panel this morning. Read on to learn some of what our panelists had to say about the Charleston area's housing market.
Look out for details about our next Inside Business LIVE event soon, when we'll discuss my main beat: the local tourism industry. Have suggestions or thoughts about what you'd like us to discuss? Send me a message.
To watch Thursday's full event, check out our video.
THE ONE TO WATCH: Experts weigh in on housing issues
We know that housing affordability is a major issue in the Charleston area, so where do we start when looking for solutions?
Elaine Worzala, director of the Carter Real Estate Center at the College of Charleston said she supports local governments getting involved. That involvement could come in the form of reducing impact fees, said Will Jenkinson of Carolina One New Homes. For example, he said, North Charleston doesn't charge impact fees for housing. In Mount Pleasant, however, those fees can tack on significant additional costs.
Even for people in the Charleston area that may already own a home or are able to afford the median home price in the tri-county area — that's around $266,000 — the lack of attainable housing options is still impacting their lives.
When people can't afford to buy or rent a home where they work, that's when traffic becomes a major concern, said Anna Lewin, the CEO of the S.C. Community Loan Fund. Both Lewin and Jenkinson noted that, when it comes to housing affordability, "density" is a good word.
That's especially true, Lewin said, when it comes to the areas that would surround the planned Lowcountry Rapid Transit line. Putting high-density housing that people can afford near a central public transportation network would help both be successful, she said.
Statewide, the outlook for the housing market is positive, said Drew Streett, the president of South Carolina Realtors. That's due, in part, to the state's rapid population growth. People moving from out-of-state helped push South Carolina to No. 9 last year for both percentage and numeric growth.
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OPENINGS AND CLOSINGS:
- The wait is over: a new downtown Publix opened Wednesday morning.
- MUSC is hosting lunch-and-learn programs at its new Urban Kitchen.
- A new brewery is in the works on the upper Charleston peninsula.
- Lowes Foods set an opening date for its new Mount Pleasant store.
- A new seafood spot, Tasty Crab House, is coming to North Charleston.
- Two Asian restaurants on King Street have upgraded their dining rooms.
- Food Lion is upgrading 15 Charleston-area stores and 67 others in S.C.
OTHER STUFF YOU SHOULD KNOW:
- The U.S. announced it was grounding Boeing's 737 MAX planes, minutes before one was scheduled to take off from CHS. (AP/Post and Courier)
- A French air accident investigation authority, BEA, will analyze the flight recorders from the Ethiopian Airlines jet that crashed. (Associated Press)
- President Trump signed a Congressional lands bill into law this week, officially making two SC historic sites national parks. (Post and Courier)
- Dominion Energy, the new owner of South Carolina Electric & Gas, is holding its 2019 shareholders meeting in Columbia. (Post and Courier)
- NASA told lawmakers yesterday that it may use commercial rockets, rather than its Space Launch System for its next moon mission. (Axios)
SOUND SMART AT WORK:
"Hey boss, did you know that some engine parts for the 737 MAX aircraft are made at Boeing's Charleston-area plant?"
Boeing’s campus at Palmetto Commerce Park designs and builds both the nacelle inlets and nacelle fan cowls for engines used in the 737 MAX program.
HIRES AND PROMOTIONS:
- Chloe Knight Tonney joined Trident United Way as president and CEO.
- Hospitality group Charming Inns named Ginny Severs as sales manager.
- Tom Swayne is now CEO at David M. Gilston Insurance Agency Inc.
- The investor relations manager at The Beach Co. is now Louie Soffner.
- WebsterRogers LLP promoted Kirby Coker to senior tax manager.
- The vice president of Robbins Construction Group is Alan Burgeen.
- Matthew Fountain has joined the City of Charleston in the newly-created role of stormwater management director.
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