The long-planned Magnolia project is finally underway with the help of Highland Resources. The 200 acres of land is located along Milford Street, along the Ashley River, in the “neck” of the peninsula. So, if the next stop is to look for Charleston, SC building development, look no further. The property comprises former industrial sites that had to be consolidated and cleaned up due to industrial contamination.
The city aims to develop this location since it’s high and dry, has good links to other cities, and is a fantastic area for expanding the region. It has the potential to become a new center for the city, both in terms of a place where people can go to work and a place where people can live.
The Magnolia development will include apartments, offices, stores, restaurants, and parks along the Ashley River between downtown Charleston and North Charleston. There will also be several entertainment establishments and a marina. The Parker Heights Marina would be a public marina on the waterfront. It will include 15 boat slots and cater to recreational boaters and short-term, seasonal, and annual dockage. A kayak dock is also on the agenda.
This development will allow new or old residents who have left the peninsula to return to something better. The project’s thousands of housing units will be reasonably priced. This is an opportunity for people who work in service-oriented jobs to find homes for sale in Charleston, SC, on the peninsula. Our team at Charleston Empire Properties are constantly being updated on the home opportunities so we can help people find a home of their dreams, or learn more about the area.
When completed, the housing project will bring more than 10,000 residents to Charleston, the largest city in South Carolina. At least 15% of the housing will be designated as workforce housing. The new residents will amount to almost the same number as the current populations of Hollywood and the Isle of Palms combined.
The goal is to finish developing the project by 2028, but it will be a gradual process, with the first phases opening much sooner. Phase one will be roughly less than a quarter of the project, with the first openings in the southeastern quadrant of the property.
If you’re looking for local Charleston real estate agents, Charleston Empire Properties has the experience and knowledge you need. Moreover, since our team is on the ground looking at the Magnolia development, our team can give you more information on the project. Our local experts will guide you through the entire process and ensure you find the ideal house in the neighborhood. Reach out to us today to gain more insight on the Magnolia development!