Another large apartment complex is about to take shape on Charleston's upper peninsula.
Jacksonville-based LandSouth Construction has begun site work for The Merchant, a 231-unit, $37 million luxury apartment community in the NoMo district.
The gated, 10-building, three- and four-story development at 15 Huguenin Ave. off Morrison Drive is a project of Atlanta developer Pollack Shores Real Estate Group.
The 244,940-square-foot project will offer communal gathering spots and residences configured in one and two-bedroom floor plans. It will also include commercial space.
The architecture will feature stucco and brick exteriors with cast stone columns, corbels and detailed cornices and paver sidewalks. Buildings will have interior corridors.
Apartments will come in 15 floor plans, ranging from 565 square feet to 1,074 square feet. They will include vinyl and carpeted flooring, granite counter tops, washer and dryer, and six elevators. The community will include a clubhouse, pool, gaming area, fitness center, yoga studio, pet spa, bike lounge and mail room.
“The Merchant offers an attractive opportunity to build in a high-barrier-to-entry market that’s experiencing explosive growth,” said Palmer McArthur, vice president of development.
Matrix Residential will manage the six-acre property.
Scheduled to be completed in December 2019, the site sits in front of another apartment development called Foundry Point rising behind it.
The 275-unit Foundry project, at a price tag of $65 million, is a joint venture of Charleston-based Middle Street Partners and White Point Partners of Charlotte, with funding by Federal Capital Partners of Maryland. The five-building complex is set to be completed in 2019.
On the way
Charleston’s Planning Commission approved zoning changes to clear the way for two projects on the peninsula Wednesday.
- Higher residential density on the one-acre parcel that includes the historic SCE&G building at 141 Meeting St., where condominiums, shops and offices are planned.
- 4½-story buildings on the former State Ports Authority site at 838 Morrison Drive, where plans won’t be set until after developers get community input.
Both requests were approved with no opposition.
The SCE&G parcel is beside the Gibbes Museum of Art on Meeting Street and the Charleston Library Society on King Street. Robert Gurley with the Preservation Society of Charleston and Chris Cody with the Historic Charleston Foundation spoke in favor of the project.
“We encourage more residential housing in this area,” Gurley said. “This has got to be done carefully.”
Cody also stressed that the project has to blend in with the historic buildings that surround it.
“This is a very important site,” he said.
No specifics were disclosed for the former SPA site. Zach Bearden, a principal with Origin Development Partners, said they will come up with one after a community feedback session known as a "charrette," which he expects to take place sometime next month.
An affiliate of Mount Pleasant-based Origin Development bought the 7.2-acre property from the maritime agency earlier this year for $9.2 million.