Any experts on Charleston SC?
Hello - my family owns 3 large parcels on Johns Island and Wadmalaw Island in SC. Does anyone have any background info on this area as far as economic outlook etc. One parcel is of Maybank Hwy (N of the post office on Wadmalaw) and the other 2 are on Roseville Rd (Johns Island by Rockville)
Thanks
Interested in your post. Just moved to the Island.
Wadmalaw is very resistant to bringing in any new change. That's why you don't see many commercial businesses on Wadmalaw. John's Island is a completely different beast as it's in full development mode. Are you looking to sell off the land, develop it or researching right now?
@Andrew Brown I live on nearby James Island. There's a bit of a difference between the two Islands. They both have great potential especially on the ends close in to Charleston but Johns Island also has Kiawah and Seabrook Islands (exclusive resort communities) at the far end. Right now Johns Island is developing faster by far. It might be that all 3 of the parcels your family has are on Wadmalaw... That's where Roseville Rd is.
They are both beautiful Islands and the land you have could be very valuable. I had clients who sold a 13 acre parcel near Rockville on Wadmalaw for $1.8mil. They had built a custom home on it along with a pool house and barn/office structure. It's currently for sale again: 2426 Brigger Hill Road, Wadmalaw Island, SC 29487
The growth on both islands is slowed by poorly rated schools and limited road access. There has been a fight to continue I-526 across Johns Island and onto James Island to connect with Charleston. If that happens, it would speed up development and increase values on Wadmalaw and Johns but I wouldn't count on it anytime soon. It's been fought over for literally decades and while it was recently given a stamp of approval by the necessary agencies, funding is in question and lawsuits are all but guaranteed. I think it's 10 years out at least.
Do any of the parcels your family owns touch a water way?
Brad is right about Wadmalaw being resistant to commercial development. They're positioning themselves as the residential choice for more upscale homes. That should work nicely down the line once Johns Island is more developed, but it's slow going right now. I had clients who bought a home on 8 acres there in Longcreek Plantation which is a community of multi-acre homes that go for ~$700k and up.
Hey @John Semanchuk @Cedrick Nelson @Brad Braun
We are currently in the process of subdividing the land among the different family members (roughly 24 acres total) and all indication is that there will be some who will just take their share and sell the land, others will hold and build and a third segment will build and sell. The information you provided was very helpful. From Google images and Real Estate Listings, I can tell the area is very nice with a lot of potential, it just seems like there is a segment of the population that wants to keep it rural and others want it to be a modern suburban community. Right now I am in the research phase but my intention is to take my portion (well my Dad's) which may fall between 4-8 acres of land, and figure out what would be best. I've even talked to other family members about combining our lots and creating a small community of homes. What would be the cost to develop and obviously using a local builder that knows the area and the culture. Thoughts?
Theres several smaller home builders around town that you could connect with, even a few larger that would consider building smaller groups of homes if theres profit to be made. Is the land cleared or just raw? Do you need water/sewer electric run? Those are costs to consider. Also, how is the land zoned? Have you had it surveyed or subdivided? Theres many questions that would need to be answered before costs to build could be figured.
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@Jay Hinrichs is building in Charleston, he might be interested. You may, or may not, get more by selling the entire parcel to one developer, as opposed to chopping it up.
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Originally posted by @Wayne Brooks:
@Jay Hinrichs is building in Charleston, he might be interested. You may, or may not, get more by selling the entire parcel to one developer, as opposed to chopping it up.
Thanks Wayne.. we are active in the urban core of Charleston.. and have done a few deals in OLD mt. Pleasant.. However I am sure there will be the right person for those projects if they are viable.
@Andrew Brown I don't know of any builder currently building spec houses on Wadmalaw. They're all focused on Johns Island at this point. If your property is close to the Johns Island end of Wadmalaw or if it includes any waterfront you are more likely to get someone interested in developing the parcel.
The most experienced land investor I know in Charleston is Paul Saucier and I'd be happy to share his contact info in a private message
