The Charleston-based firm behind Cane Bay in Berkeley County is looking to the economically struggling southern end of the state for its next big mixed-use deal.
Gramling Brothers Real Estate & Development recently announced plans to develop Riverport Park, a 2,500-acre parcel bisected by Interstate 95 along the Savannah River in Jasper County.
“We view Riverport as one of the great mixed-use development opportunities in South Carolina," said Ben Gramling, president.
He called the area "the front gate of the Lowcountry — and the commercial and residential development opportunities in this important region are endless."
Details about the specific number of homes and the amount of commercial space to be built were not immediately available.
In a statement, Gramling cited increased activity at the Port of Savannah, about 10 miles from the site, as a contributor to the area's low vacancy rate and shortage of industrial real estate. The property is part of Dallas-based Stratford Land.
The city of Hardeeville expects the development of Riverport to increase traffic on certain interchanges along I-95 near the Georgia border and has applied to the state for financial help for a new interchange at the three-mile marker on the South Carolina side.
About two-thirds of the construction costs will be paid for with local funds and landowner contributions, according to Michael Czymbor, Hardeeville city manager.
The project also has the blessing of South Carolina's governor.
"In the last decade, Jasper County has seen explosive growth from new residents," Gov. Henry McMaster said. "The county’s rural infrastructure system has become outdated and inadequate to keep up with the needs brought on by increases in traffic volume."
The governor added, "By not addressing these infrastructure needs, our economic development and job creation efforts may be placed at a disadvantage, one that may be very difficult to overcome."
Danny Black, president and CEO of the Southern Carolina Alliance, called the proposed development "a game changer for an economically depressed area of the state overlooked for years."
A retail strip center in West Ashley recently sold for $1.075 million. A company called 438 6th Avenue Associates LLC bought the fully leased, multi-tenant, 6,083-square-foot structure at 1649 Savannah Highway from multiple sellers, according to the commercial real estate firm Oswald Cooke & Associates. Benjy Cooke represented the seller, and Blair Hines represented the buyer. Both agents are with the Oswald firm.