The Towns at Carolina Park

Mount Pleasant, SC

The Berry Company, in partnership with BCDC have broken ground on the development of a 100-unit (125,288 SF) attainable for-sale residential community in Mount Pleasant, Charleston MSA, South Carolina. The Project will include (1) 34 three bedroom, two-and-a-half-bathroom townhome units with surface parking spaces and perpendicular parking spaces in front of the units and (2) 66 three bedroom, three-and-a-half bathroom townhome units with attached single car garages on the ground floor with an additional parking space in the driveway.

The Project is in the highly desirable Mount Pleasant submarket of the larger Charleston, SC MSA. There are no planned or current for-sale townhome communities in the submarket with average 2003 vintage resell inventory selling at $525,000 in 2024, a significant discount to proforma underwriting for this new build community. Mount Pleasant has had a ban on new market rate multifamily and condo construction in place since 2017 that got renewed through the end of 2024. TBC Development successfully rezoned the Site to allow for the AMI workforce for-sale units.

Location

Mount Pleasant, SC

Team

Co-Sponsor: BCDC/The Berry Company
Lender: Pinnacle Bank
Architect: Vinyet Architecture
General Contractor: Center Park Group

Project Type

For-Sale Residential Community