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TOWN & NEIGHBORHOOD NEWS

Mount Pleasant building permit cap may be suspended By Kathleen Dayton , Staff Writer, February, 2008
The home building fervor that pumped Mount Pleasant's growth rate to almost 10% in 1999 and 2000 has turned down so sharply that town officials are ready to lift a building permit cap they implemented in 2001. But a building industry executive said it's too late and the cap has already caused damage by artificially boosting housing prices in the town.

The town's Planning and Development Committee voted Monday 3-1 to suspend the cap until the growth rate, now at 1.2%, once again exceeds 3%. Only 344 permits were requested last year in the town, which had limited the number of permits to 620 annually. In contrast to the downturn, there were 1,731 residential building permits issued in 1999 and 1,557 permits issued in 2000, the year the permit allocation program was approved. So far this quarter, 38 permit applications have been received, Town Planner Kelly Cousino said.

The decision to suspend the permit allocation ordinance will go before Mount Pleasant Town Council Feb. 12 and will have a second reading in March. "If that passes, it's official," Cousino said. The town's growth rate will be monitored semiannually, she said. As part of the permit allocation process, the town had also implemented quarterly deadlines for permit applications. Builders now will have more freedom to submit their applications without deadlines.

Philip Ford, executive vice president of the Charleston Trident Homebuilders Association, said lifting the permit allocation ordinance will not help home builders in the current market. "Home building in that area is down," Ford said. "If you wanted to build a house there, there are plenty of permits. By suspending it now, it's really too late. It's nice that it's going away, but it would be helpful if it went away for good. Permit allocation has artificially inflated the price of houses over there."

The median price of a home sold in Mount Pleasant in January was $375,000, compared with a median price of $206,208 for a home sold last month in the tri-country area, the Charleston Trident Association of Realtors reported . In 2001, the year the permit allocation ordinance was implemented in Mount Pleasant, the median price of a home there was $200,000, compared with a median price of $147,000 for a home in the tri-county area.

Housing sales for 2007 Fourth Highest on Record By Daily Journal Staff, Jan. 2008
Tri-county home sales in 2007 fell short of 2006 numbers and far short of record totals for 2005, but housing sales figures for the year were still the fourth highest in history for the region. There were 12,688 homes sold in the tri-county area in 2007, compared with 14,240 homes sold in 2006 and 15,740 homes sold in 2005, the Charleston Trident Association of Realtors reported.

Sales for 2007, however, were slightly better than in 2004, when 12,639 homes were sold and better than in 2003 when the year ended with 10,778 homes sold. Only 8,812 were sold in 2002. The median price of a home in the tri-country region rose 2.4% in 2007 to $210,000, and the average number of days on the market was a little more than three months at 92 days.

Wil Riley, president of the Charleston Trident Association of Realtors, said the organization’s research shows that housing values in the area have risen about 6% annually for the past 30 years. “That means home values double approximately every 10 years, making real estate a good investment for the future,” Riley said.

There were 713 homes sold in the tri-county area in December, compared with 1,022 homes sold in December 2006. The median sales price of a home in the tri-county area rose 4.8% from December 2006 from $199,000 to $210,000. There were 213 homes sold in Berkeley County in December with a median sales price of $169,000 and an average of 95 days on the market. In Charleston County, there were 329 homes sold in December with a median sales price of $252,000 and an average of 124 days on the market. Dorchester County had 148 home sales in December at a median price of $202,420, spending an average of 100 days on the market.

Mount Pleasant Approves Taller Buildings Near the Bridge By Molly Parker , Staff Writer, Daily Journal, Jan. 2008
Parts of Mount Pleasant could soon get a lot taller. Town Council voted Tuesday night to increase the height limitation from 35 to 80 feet for new construction running from the foot of the Arthur Ravenel Jr. Bridge to McGrath Darby Boulevard.

“We had no opposition to it at all,” Town Administrator Mac Burdette said. “The land prices what they are, the council is coming to the realization that there are certain heavily traveled roadways where it makes sense to get some height, where it’s necessary.” That doesn’t mean all of Mount Pleasant is about to hit a growth spurt, he said, noting that when “you start talking about height, people start getting pretty excited.”

Several Town Hall fights, in fact, have been prompted by developers’ requests to waive the height limitation. The idea to increase the height limits of buildings in that limited area was prompted by a developer’s request to build a new hotel/condo development adjacent to the Days Inn on Johnnie Dodds Boulevard where a vacant building — once a restaurant and later a church — now sits. Burdette declined to name the developer.

Some buildings in Mount Pleasant already exceed the 35-foot limit, such as the East Cooper Regional Medical Center and the Tides condo development overlooking the Cooper River. But the town decided it made sense, Burdette said, to allow the entire area to grow up — in height, that is, not girth — while conducting the initial drafting of the Johnnie Dodds Boulevard revitalization plan. “Eighty feet sounds like a tremendous elevation, but ... if you put it in relation to that bridge, it doesn’t seem so high at all. That bridge is so big that it puts everything on a different scale,” he said.

Whipple Rd. Construction Post & Courier Nov. 2007
During the next 6-8 months the Town of Mt. Pleasant will undertake a construction project that includes widening Whipple Road and creating sidewalks. Additionally, this project will move underground utilities and result in a new traffic signal light being installed at the back entrance of Snee Farm where it intersects with Whipple Road.

Perot Jr. to build on 750 acres By Dan McCue , Staff Writer CRBJ Daily Journal, Nov., 2007
"An office and industrial property development company owned by H. Ross Perot Jr.—son of the Texas billionaire and onetime presidential candidate H. Ross Perot—is poised to begin construction of a 750-acre business park near Interstate 26 in Berkeley County.

The development, to be called the Charleston Trade Center, will be located on Interstate 25 between exits 194 and 199 near the Piggy Wiggly Distribution Center. The site, formerly known as the Mercedes tract, will have approximately 9 million square feet of Class A distribution and manufacturing facilities at full buildout..."




TOWN & NEIGHBORHOOD NEWS Mount Pleasant building permit cap may be suspended By Kathleen Dayton , Staff Writer, February, 2008 The home building fervor that pumped Mount Pleasant's growth rate to almost 10% in 1999 and 2000 has turned down so sharply that town officials are ready to lift a building permit cap they implemented in 2001. But a building industry executive said it's too late and the cap has already caused damage by artificially boosting housing prices in the town. The town's Planning and Development Committee voted Monday 3-1 to suspend the cap until the growth rate, now at 1.2%, once again exceeds 3%. Only 344 permits were requested last year in the town, which had limited the number of permits to 620 annually. In contrast to the downturn, there were 1,731 residential building permits issued in 1999 and 1,557 permits issued in 2000, the year the permit allocation program was approved. So far this quarter, 38 permit applications have been received, Town Planner Kelly Cousino said. The decision to suspend the permit allocation ordinance will go before Mount Pleasant Town Council Feb. 12 and will have a second reading in March. "If that passes, it's official," Cousino said. The town's growth rate will be monitored semiannually, she said. As part of the permit allocation process, the town had also implemented quarterly deadlines for permit applications. Builders now will have more freedom to submit their applications without deadlines. Philip Ford, executive vice president of the Charleston Trident Homebuilders Association, said lifting the permit allocation ordinance will not help home builders in the current market. "Home building in that area is down," Ford said. "If you wanted to build a house there, there are plenty of permits. By suspending it now, it's really too late. It's nice that it's going away, but it would be helpful if it went away for good. Permit allocation has artificially inflated the price of houses over there." The median price of a home sold in Mount Pleasant in January was $375,000, compared with a median price of $206,208 for a home sold last month in the tri-country area, the Charleston Trident Association of Realtors reported . In 2001, the year the permit allocation ordinance was implemented in Mount Pleasant, the median price of a home there was $200,000, compared with a median price of $147,000 for a home in the tri-county area. Housing sales for 2007 Fourth Highest on Record By Daily Journal Staff, Jan. 2008 Tri-county home sales in 2007 fell short of 2006 numbers and far short of record totals for 2005, but housing sales figures for the year were still the fourth highest in history for the region. There were 12,688 homes sold in the tri-county area in 2007, compared with 14,240 homes sold in 2006 and 15,740 homes sold in 2005, the Charleston Trident Association of Realtors reported. Sales for 2007, however, were slightly better than in 2004, when 12,639 homes were sold and better than in 2003 when the year ended with 10,778 homes sold. Only 8,812 were sold in 2002. The median price of a home in the tri-country region rose 2.4% in 2007 to $210,000, and the average number of days on the market was a little more than three months at 92 days. Wil Riley, president of the Charleston Trident Association of Realtors, said the organization’s research shows that housing values in the area have risen about 6% annually for the past 30 years. “That means home values double approximately every 10 years, making real estate a good investment for the future,” Riley said. There were 713 homes sold in the tri-county area in December, compared with 1,022 homes sold in December 2006. The median sales price of a home in the tri-county area rose 4.8% from December 2006 from $199,000 to $210,000. There were 213 homes sold in Berkeley County in December with a median sales price of $169,000 and an average of 95 days on the market. In Charleston County, there were 329 homes sold in December with a median sales price of $252,000 and an average of 124 days on the market. Dorchester County had 148 home sales in December at a median price of $202,420, spending an average of 100 days on the market. Mount Pleasant Approves Taller Buildings Near the Bridge By Molly Parker , Staff Writer, Daily Journal, Jan. 2008 Parts of Mount Pleasant could soon get a lot taller. Town Council voted Tuesday night to increase the height limitation from 35 to 80 feet for new construction running from the foot of the Arthur Ravenel Jr. Bridge to McGrath Darby Boulevard. “We had no opposition to it at all,” Town Administrator Mac Burdette said. “The land prices what they are, the council is coming to the realization that there are certain heavily traveled roadways where it makes sense to get some height, where it’s necessary.” That doesn’t mean all of Mount Pleasant is about to hit a growth spurt, he said, noting that when “you start talking about height, people start getting pretty excited.” Several Town Hall fights, in fact, have been prompted by developers’ requests to waive the height limitation. The idea to increase the height limits of buildings in that limited area was prompted by a developer’s request to build a new hotel/condo development adjacent to the Days Inn on Johnnie Dodds Boulevard where a vacant building — once a restaurant and later a church — now sits. Burdette declined to name the developer. Some buildings in Mount Pleasant already exceed the 35-foot limit, such as the East Cooper Regional Medical Center and the Tides condo development overlooking the Cooper River. But the town decided it made sense, Burdette said, to allow the entire area to grow up — in height, that is, not girth — while conducting the initial drafting of the Johnnie Dodds Boulevard revitalization plan. “Eighty feet sounds like a tremendous elevation, but ... if you put it in relation to that bridge, it doesn’t seem so high at all. That bridge is so big that it puts everything on a different scale,” he said. Whipple Rd. Construction Post & Courier Nov. 2007 During the next 6-8 months the Town of Mt. Pleasant will undertake a construction project that includes widening Whipple Road and creating sidewalks. Additionally, this project will move underground utilities and result in a new traffic signal light being installed at the back entrance of Snee Farm where it intersects with Whipple Road. Perot Jr. to build on 750 acres By Dan McCue , Staff Writer CRBJ Daily Journal, Nov., 2007 "An office and industrial property development company owned by H. Ross Perot Jr.—son of the Texas billionaire and onetime presidential candidate H. Ross Perot—is poised to begin construction of a 750-acre business park near Interstate 26 in Berkeley County. The development, to be called the Charleston Trade Center, will be located on Interstate 25 between exits 194 and 199 near the Piggy Wiggly Distribution Center. The site, formerly known as the Mercedes tract, will have approximately 9 million square feet of Class A distribution and manufacturing facilities at full buildout..."