The Gadsden (copy) (copy)

The 76-unit Gadsden condominiums recently opened at Concord and Laurens streets on the Charleston peninsula. Warren L. Wise/Staff

One of the few condominium projects to be built in the Charleston region in recent years is now open.

The $60 million, six-story Gadsden at Concord and Laurens streets near the Maritime Center on the Charleston peninsula features 76 units next to Gadsdenboro Park.

The one-, two- and three-bedroom units are priced from the low $400,000-range to $1.3 million.

Two-thirds of the units were sold before the first closing. Twenty-five residences remain available.

The structure features ground-level parking and a rooftop clubhouse, with fire pits and a pool.

Developer East West Partners of Colorado is handling sales through its East Bay Street office.

The company is no stranger to the region's high-end condo market. Its most recent deal was the completion of the 54-unit Tides IV at the base of the Ravenel Bridge in Mount Pleasant. It was also behind the 49-unit One Vendue Range and the nearby City Gallery at Waterfront Park in downtown Charleston.

Land-use change

The owner of a large chunk of undeveloped land along Clements Ferry Road in Charleston is eyeing a land-use change from light industrial to general business and diverse residential use.

An affiliate of Mount Pleasant McAlister Development will ask the city Wednesday to rezone nearly 147 acres of the 233-acre tract between Charleston Regional Parkway and Jack Primus Road near Gildan's apparel distribution center in Berkeley County.

On the way

A new retail and office building is being proposed for West Ashley.

StudioMa Architecture firm founder Matteo Rappalini wants to construct a mixed-use structure with 2,523 square feet of office space, 1,800 square feet for a cafe and 1,196 square feet for an art gallery and workshop at 844 Magnolia Road. It will be called Frameworks Court. He currently operates at 842 Magnolia Road in a reworked former body shop.

Rappalini is seeking a variance to allow seven off-street parking spaces instead of the 37 required. Charleston's Board of Zoning Appeals will hear the request Tuesday.

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Changing hands

A James Island strip shopping center recently changed hands.

Stella Kala LLC bought the 7,397-square-foot retail site at 1027 Folly Road from Sumters Landing LLC for $2.41 million, according to commercial real estate firm Lee & Associates.

Stella Kala LLC is registered to Jessica Sage, who recently sold her part in the Charleston Marine and Rigging property at 1304 Meeting St. to make way for a new eight-story apartment building planned by Lennar Homes' LMC multifamily division.


Mount Pleasant-based Ziff Properties continues to add to its portfolio. The real estate investment firm recently paid $6.5 million for Commerce Park Place, a multi-tenant business park in Indianapolis. The 133,088-square-foot complex consists of seven buildings with office and small-bay warehouse space. It is about one mile from Pyramid Place Shopping Center, another Ziff-owned asset.


Charleston-based Twin Rivers Capital recently sold a Family Dollar store it developed in Suffolk, Va., to a buyer in Virginia. Terms were not disclosed. The 9,180-square-foot store was built by HJB Construction, also headquartered in Charleston.

Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.