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This will be good, as it is only a short walk from Capitol Street, Haddad RFP, and of course is right across the street from our awesome riverfront. Can't wait to see the finished product.
Until there is industry that brings in young professionals to Charleston, there will be no urban renewal. Sure, a few restaurants will pop up like Pies & Pints, but no one with money will want to invest until there's actually a reason to be downtown.
Until there is industry that brings in young professionals to Charleston, there will be no urban renewal. Sure, a few restaurants will pop up like Pies & Pints, but no one with money will want to invest until there's actually a reason to be downtown.
That is true, but I believe that the era of youth led urban renewal in Charleston is approaching. This young adult generation is eager to use their gifts and abilities to find creative ways to revive places.
That is true, but I believe that the era of youth led urban renewal in Charleston is approaching. This young adult generation is eager to use their gifts and abilities to find creative ways to revive places.
It's kind of funny that I read this thread this morning. Just last week, I was at a work conference in Columbus. Over the past 15-20 years or so, the city has made a concerted push to encourage construction of condos and lofts which are (and this is key) affordable for young professionals. We stayed near the Short North district, where a bunch of bars, restaurants, shops, and other services have popped up in a walkable radius around condo/loft developments to create a really neat, vibrant area.
Speaking as a young-ish (29 year old) professional, there's no reason in the world that Charleston can't be similar. Charleston already has good things going for it in terms of atmosphere (arts, music, restaurants, etc) but needs that last little push to consistently keep people downtown after 5:00. What few condos exist now in downtown Charleston are beautiful and a decent start down that road, but are still too expensive to get a solid foothold with folks in their 20s and 30s.
It's kind of funny that I read this thread this morning. Just last week, I was at a work conference in Columbus. Over the past 15-20 years or so, the city has made a concerted push to encourage construction of condos and lofts which are (and this is key) affordable for young professionals. We stayed near the Short North district, where a bunch of bars, restaurants, shops, and other services have popped up in a walkable radius around condo/loft developments to create a really neat, vibrant area.
Speaking as a young-ish (29 year old) professional, there's no reason in the world that Charleston can't be similar. Charleston already has good things going for it in terms of atmosphere (arts, music, restaurants, etc) but needs that last little push to consistently keep people downtown after 5:00. What few condos exist now in downtown Charleston are beautiful and a decent start down that road, but are still too expensive to get a solid foothold with folks in their 20s and 30s.
Ding ding ding! And that reflects the pent-up demand for this kind of housing. And it makes sense that they're expensive. Those developers who have undertaken renovations (e.g. Pison) are the only ones doing it and until it's demonstrated that the market is indeed there, the first ones will be expensive to get the best bang for their buck. One factor inhibiting further development is population, obviously, but a subset of that is the lack of people with capital to pursue these ventures. If you want affordable housing not as a result of government/employer subsidies, then it will take a dedicated investor to build/renovate and take on the risk associated with a low ROI in the short term. However, once others see that these are desirable options in the Charleston market, they'll join the developing fray, thereby adding competition and stock, driving down prices. And I think we're approaching the tipping point for this.
*I should say, however, that I've never taken an economics class other than the curricula offered in engineering, so I could be way off. If anyone else who knows markets and economic forces better than I do want to add anything else, please go ahead!
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