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Florence could be a top 10 costliest hurricane
The cost of devastation caused by flooding from Hurricane Florence in North Carolina and South Carolina is still being counted as floodwaters continue to rise, but early estimates put the price tag in billions and the storm could be one of the 10 costliest ever in the U.S.
Moody's Analytics put the cost at between $17 billion and $22 billion, but admitted the estimate may be conservative because of the extent of property damage from record rainfall and worsening flooding, according to a report on CNBC.
Homes, businesses and vehicles suffered damage from wind or water, and some rivers are cresting over the weekend, adding to the misery.
The hurricane made landfall north of Wilmington, N.C., early Sept. 14 and then practically crawled along the coast southwestward toward Myrtle Beach, dumping torrential rains for several days in eastern North Carolina and the Pee Dee region of South Carolina.
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Flood-ridden home demolished with FEMA funds in Charleston
A two-story house at 128 Beaufain St. on the peninsula flooded three times in recent years and is the first to be town down in the region using federal funds.
By the numbers
42: The number of Lowcountry women in the construction industry in the recently organized Charleston-area chapter of the National Association of Women in Construction.
400: Feet of additional waterfront land to be added by extending Joe Riley Waterfront Park onto a portion of State Ports Authority property next door in downtown Charleston.
3,000: The number of new parking spaces to be built in a five-tier deck at Charleston International Airport, starting next year.
This week in real estate
+ Stores to storage: A developer wants to transform strip retail center Peach Orchard Plaza in Mount Pleasant into a storage-unit facility, possibly three stories tall on Coleman Boulevard.
The 4,242-square-foot house at 4400 Wando Farms Road on the outskirts of Mount Pleasant is listed for $2.375 million. The home features five bedrooms, a sun room, heart-pine floors and a wood-burning fireplace made from Montana river stones.
Upcoming real estate events
- 3 P's of professionalism, Tuesday, Sept. 25: Principles, practices and pitfalls are part of the mandatory core requirement course offered to licensees by the Charleston Trident Association of Realtors.
- Real estate finance, Tuesday, Sept 25: Industry professionals can learn the basics of mortgage lending and loan products.