Condominium sales are slipping across the nation, but two sizable projects near either end of the Ashley River bridges are moving forward.

The city of Charleston’s Architectural Review Board approved plans this week for the developments, one on Folly Road and the other on one of Lockwood Boulevard’s last vacant waterfront parcels.

Once completed, the projects will add about 225 more units to the Charleston condo market.

The larger of the two is set for the former Concrete Products site at Folly and Albemarle roads, where Beazer Homes USA’s local division is planning a 182-unit development called Station West.

The eight-acre site will include a mix of lofts, condos and townhouses spread over roughly six buildings. It also will feature about 18,000 square feet of corner retail space.

Frank Finlaw, Beazer’s Charleston division president, said the development doesn’t compare to any of the 14 single-family projects the homebuilder has been involved in locally. Station West is based on Beazer developments in Florida and along the West Coast, he said.

“It’s a great piece of land, and we wanted to do something special at that location,” he said.

Finlaw noted that a fourth-quarter loss at Beazer’s parent company, released Thursday, won’t affect the Folly Road project. Pinched by the national real estate slump, Atlanta-based Beazer lost $59 million in the last three moths of 2006.

Finlaw said he’s optimistic about a market rebound. Construction on Station West is expected to begin this spring.

“We’re continuing to march,” Finlaw said.

Also this week, city officials passed the conceptual design for a 46-unit condoproject that Landquest Developers is proposing to build next to the Courtyard by Marriott hotel on Lockwood Boulevard.

The high-end residential project, which hasn’t been named yet, will comprise two rectangular buildings that run parallel to the Ashley bridges. Plans show a glass walkway that would connect the second floors of the twin 46-foot-tall structures.

The ground floors will be developed as commercial space for a retail shop, office or restaurant.

Raleigh-based Landquest plans to furnish the waterfront residences with high-end features, such as gourmet kitchens and luxury finishes, said Jeff Milligan, senior vice president for the company. Prices will likely start at $1 million, he said.

Milligan said he hopes to start construction by summer so the first owners can move in by August 2008.

Source: www.charleston.net

This entry was posted on Saturday, January 27th, 2007 at 12:23 am and is filed under Condo, Real Estate. Tags: Atlanta Charleston Condo development Florida Marriott Marriott Hotel Projects Raleigh Real Estate Real estate slump Residences restaurant retail retail space Review Board West Coast . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.