Pee Dee flooding

Floodwaters surround a home in Nichols on Friday, and this scene is expected to be repeated further south, as floodwaters reach Florence County. September 21, 2018. Lauren Petracca/Staff

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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

128 Beaufain Street

Workers from Ladson Wood Recycling began tearing down the house at 128 Beaufain St. Wednesday, Sept. 19, 2018. The downtown home, which has flooded three times, is one of the first to be torn down on the Charleston peninsula using FEMA funds. Brad Nettles/Staff

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.

+ Inn in the works: A 105-room hotel is planned for rapidly changing upper Meeting Street in Charleston.

+ Cool lease: Texas-based Yeti Coolers has signed a memorandum of lease for the ground-floor retail site at 360 King St. in downtown Charleston.

Featured Home 

Featured home 3

A gourmet kitchen with cathedral ceiling centers the Mount Pleasant house.

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

We're starting a weekly newsletter about the business stories that are shaping Charleston and South Carolina. Get ahead with us - it's free.

  • 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.

For the full calendar, click here.

Charleston-area transactions

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