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The Meeting Street corridor is going to look awesome when driving in on 26. On the WF slowdown, the dearth of construction workers that’s been in the news might be largely to blame.
The thing I can't quite get a feel for is why developers continue to build student apartment buildings. I get that you can charge more per bed than per unit and that you're mostly targeting rich parents rather than people who earn a local salary, but for the most part the only people living in these buildings are CofC students and with the availability of existing housing in already established student apartment buildings as well as rental houses I don't see how there continues to be a market for student specific apartments.
On the plus side, adding any kind of dense housing stock is good and ideally more students will move into these kinds of student specific apartments freeing up rentals on the peninsula that would otherwise be rented by students.
However it is still very frustrating to see what's seems like most new apartment buildings downtown geared specifically toward students. It feels counter to the direction we are moving toward as a city.
Maybe downtown will be the new York of the south... without the rude people
A nice idea, but Downtown will never have buildings that tall, geography won't allow it with current methods, Mt. Pleasant might have some but it's not likely, West Ashley and North Charleston are the most likely, and maybe Summerville.
The thing I can't quite get a feel for is why developers continue to build student apartment buildings. I get that you can charge more per bed than per unit and that you're mostly targeting rich parents rather than people who earn a local salary, but for the most part the only people living in these buildings are CofC students and with the availability of existing housing in already established student apartment buildings as well as rental houses I don't see how there continues to be a market for student specific apartments.
On the plus side, adding any kind of dense housing stock is good and ideally more students will move into these kinds of student specific apartments freeing up rentals on the peninsula that would otherwise be rented by students.
However it is still very frustrating to see what's seems like most new apartment buildings downtown geared specifically toward students. It feels counter to the direction we are moving toward as a city.
This is a great post and I wonder the same thing. I was first disappointed to learn the recently completed Skygarden building was actually for student housing and then finding out the new development at 595 King St was going to be for student housing. There must be more money in it for the developers vs. regular apartments. I wonder too if developers are exempt from work-force unit set asides if the building is for student housing.
At least if the student housing thing doesn't work out or gets over built the buildings can always be converted to condos or regular apartments.
This is a great post and I wonder the same thing. I was first disappointed to learn the recently completed Skygarden building was actually for student housing and then finding out the new development at 595 King St was going to be for student housing. There must be more money in it for the developers vs. regular apartments. I wonder too if developers are exempt from work-force unit set asides if the building is for student housing.
At least if the student housing thing doesn't work out or gets over built the buildings can always be converted to condos or regular apartments.
It’s a guaranteed market up to the size of CofC. I’m just glad it’s not derelict lots and surface parking.
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