A long-awaited apartment complex planned for at high-profile corner on the peninsula is set to break ground.

Charleston-based Greystar and Prudential Real Estate Investors today announced a joint venture to build the 200-unit project at the southwest corner of Meeting and Spring streets.

"It's a thrilling opportunity for our firm to provide a truly best-in-class project in our own back yard," said Bob Faith, founder and CEO of Greystar, a national company based on Broad Street. "The barriers to entry in the historic district of downtown Charleston couldn't be any higher. This will be the first institutional-sized rental project to deliver downtown in well over 25 years."

The 1.77-acre project will include residential units above 6,887-square-feet of retail space and two levels of parking. Studios and one- and two-bedroom rentals will be available, with 15 percent eligible for reduced rates.

See Saturday's editions of The Post and Courier for more details.