kitchen countertopsIn Nexton, SC

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At the mid-year point, South Carolina boasts three of the top-selling 50 master-planned communities in the U.S.

RCLCO Real Estate Consulting ranked Cane Bay Plantation in Berkeley County at No. 5 with 525 sales during the first six months of 2022. That’s down 9 percent from last year’s midpoint.

Nexton, also in Berkeley, came in at No. 22 with with 308 sales, down 5 percent from the first six months of last year.

Latitude Margaritaville in Hardeeville near Hilton Head Island ranked No. 39 with 234 sales, down 29 percent from last year from January through June.

The top-selling, master-planned community continues to be The Villages, between Ocala and Orlando, Fla. It had about 1,500 sales, down 25 percent from last year at the midpoint.

Almost all of the top 50 are in the southern tier of states. Texas posted the most with 20, Florida landed 15, Nevada had four, California and Arizona saw three each, and Utah and Washington state notched one each.

Total new home sales among the 50 top-selling master-planned communities declined by 18 percent in the first half of 2022 compared to the same time period last year, according to RCLCO.

“Supply chain issues and inadequate new home inventory have continued to pose problems for developers, as price increases and interest rate hikes have begun to impact traffic from potential buyers in recent months,” RCLCO said in its mid-year report.

Nationally, the average price among all new single-family homes is up 15 percent since mid-2021.

“The results of this updated mid-year report confirm that supply chain disruptions continue to have an impact on the ability of master-planned communities to meet new home demand, though climbing interest rates and price appreciation??????? have begun to have an impact on that demand, at least in the near-term,” said RCLCO principal Karl Pischke.

“However, it is important not to overreact to the slowing of sales seen over the last year, as these are still short-term trends,” he said.

“The long-term future of the for-sale housing industry, as evidenced by favorable demographic tailwinds, is strong,” Pischke said. “And the future of master-planned communities, particularly in their ability to capture an outsized share of buyer demand during uncertain or difficult economic times, provides another reason for optimism.”

An affiliate of King and Society Real Estate of Charleston bought the 1.5-acre parcel in 2019 for $1.25 million and plans to open a 38-room new lodging??????? with a restaurant and other amenities on the edge of Beresford Creek.

4427: Address on Spruill Avenue in North Charleston for a new alcohol-making business called Wind & Waves??????? Brewing.

28,200: Square footage of new Buy Buy Baby store soon to open in North Charleston. It’s the company’s second store in South Carolina.

5,703: Square footage of new sports bar The Natural coming to Johns Island, tentatively in mid-August.

+ Sold: The historic Two Meeting Street Inn changed hands earlier this month for nearly $7.7M. It’s had just two previous owners in its 131-year history.

+ The scoop: Jeni’s Splendid Ice Creams plans to open a second Charleston-area venue in Mount Pleasant Towne Centre.

+ Breaking ground: Charleston kicks off work on $42 million affordable senior housing complex??????? at former Archer School.

Developers Capital Square and Method Co. plan to open the 50-room ROOST Apartment Hotel??????? by early 2024 at the site of the former Dixie Furniture Store at 529 King St. in downtown Charleston.

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Leading Southeast Multifamily Developer Delivers on Newest Luxury Solis-Branded Property, Solis Nexton

SUMMERVILLE, S.C., July 21, 2022 (GLOBE NEWSWIRE) -- Terwilliger Pappas, one of the Southeast’s premier multifamily property developers, is nearing completion on Solis Nexton, adding to its roster of 32 complete properties. Under the company’s marquee Solis brand, the newest property features 320 apartment homes in the Nexton neighborhood of Summerville. The project team includes Summit Contracting, Group 4 Architecture, Cline Design Associates, Seamon Whiteside and management company, Lincoln Property Company.

Welcoming home its first residents on July 29^th, Solis Nexton offers contemporary finishes such as granite countertops, stainless steel appliances, custom kitchen islands with sleek shaker-style cabinetry and modern hardware. Solis Nexton’s extensive amenity list includes a saltwater pool, expansive fitness center and yoga studio, local hot and cold brew coffee on tap, community dog park and pet spa, and a business center brimming with work from home opportunities. The community is located just steps from Nexton Square, placing residents moments from Nexton’s premier attractions such as Hall’s Chophouse, Taco Boy, Poogan’s Porch, and Page’s Okra Grill.

“Solis Nexton will provide our residents the full complement of amenities found in all of our Solis communities while honing in on the signature neighborly spirit of Nexton,” said Tom Barker, Regional CEO of Terwilliger Pappas. “Positioned minutes from top employers, schools, conveniences, entertainment, and walkable to all the perks of Nexton Square, living at Solis Nexton puts residents at the pulse of the Nexton community, and we are excited and honored to be the newest addition to the neighborhood.”

Lincoln Property Company will serve as the management company and has already begun pre-leasing apartment homes at Solis Nexton. Lincoln currently manages 11 active communities in the Charleston area and is thrilled to be working with Terwilliger Pappas and the Nexton team on this project. “We are looking forward to welcoming the first members of the ‘inner circle’ here at Solis Nexton later this July,” said Danielle Lombardi, Business Manager at Solis Nexton. “This community is truly a place to enjoy the brighter moments and we’ve really perfected the resident experience to be one that is second to none in the Summerville submarket.”

To explore the collection of studios, one-, two- and three- bedroom offerings at Solis Nexton- visit: 6000 Front Street | Summerville, SC 29486 or call to schedule your tour today: (854) 300-4913. You may also visit the community online and explore virtual touring options at: www.solisnexton.com.

For more information on Terwilliger Pappas or its 32 properties, please visit www.terwilligerpappas.com.

About Terwilliger Pappas

Founded in 2013 by J. Ronald Terwilliger and Peter A. Pappas, Terwilliger Pappas develops best-in-class multifamily apartment communities in the Southeast’s most appealing submarkets. Terwilliger Pappas communities are identified by their marquee brand, Solis, and reflect the company’s elevated design emphasis resulting in the highest quality communities for residents, investors, and partners. Terwilliger Pappas is based in Charlotte, with regional offices in Raleigh and Atlanta.

About Solis Nexton

Solis Nexton is a vibrant community in the heart of the award winning, master- planned Nexton community. Enjoy our contemporary aesthetic, ideal amenities, and neighborly atmosphere while just steps away from renowned restaurants, shopping, and entertainment. At Solis Nexton, you’ll live a bit brighter. Welcome home.

About Lincoln Property Company

Lincoln Property Company was founded in 1965 by Mack Pogue as a builder and operator of high-quality residential communities. Headquartered in Dallas, Lincoln focuses on real estate investment, construction and development, in addition to property management. In 2019, Lincoln Property Company’s residential division formed a strategic partnership with Cadillac Fairview (CF), a globally focused owner, operator, investor, and developer of best-in-class retail, office, residential, industrial and mixed-use assets. Wholly owned by the Ontario Teachers' Pension Plan, CF manages in excess of $36 billion of assets across the Americas, Asia, and the United Kingdom, with further expansion planned into Europe. Lincoln is currently the second largest multifamily manager in the United States with more than 210,000 units under management. For more information about Lincoln Property Company, please visit www.lincolnapts.com/business-services.

Media Contact:Tom BarkerTerwilliger Pappastbarker@terwilligerpappas.com919-585-5191

There’s been no shortage of news over the past 30 months about office vacancies. In large gateway cities, office occupancies fell dramatically during the pandemic as staffs found they could work from home. Moreover, occupancies have remained stubbornly low, as employers and staff faced off over remote work.

Though the weeks since Labor Day have seen a number of firms’ employees return to in-office mode, many corporate tenants in the nation’s biggest office markets are downsizing to considerably less space.

But let’s pause before assuming the well-reported empty office is the ubiquitous norm. In an assortment of cities in the Southeast U.S., the opposite trend has taken hold. Developers and communities in Alabama and South Carolina, for instance, have noted growing tenant interest in office space, particularly in high-end office buildings.

No vacancies

The Jasper, a luxury 12-story, mixed-use structure in the historic downtown district of Charleston, S.C., features 75,000 square feet of AAA office space, as well as 25,000 square feet of first-floor retail space and 219 luxury multifamily units. All spaces in The Beach Company building, which touts its riverside geography, are currently filled.

The Range, situated within a designated Opportunity Zone in the western end of downtown Huntsville, Ala., not far from acclaimed restaurants, museums and parks, is a commercial office development offering three floors and 49,000 square feet of Class A commercial office space. Walking a fine line between big-city office environments and those with a small-town vibe, The Range offers pedestrian-friendly access to a variety of the Rocket City’s most popular dining, retail and entertainment options. That may be why it recently welcomed two new corporate tenants, Eyecare Partners and Bridgeworth Financial Services.

“People are leaving western and northeastern markets for small and mid-sized Southern cities like Huntsville,” says J.C. Darby, development manager at The Beach Company. “In the past decade Huntsville has become Alabama’s No. 1 city with the addition of thousands of jobs and billions of dollars in investment from companies like Mazda, Toyota, The Boeing Company and Remington, all things The Beach Company looks for when scouting development sites.

“The Range is equidistant to the Interstate and all of Huntsville’s economic drivers, including the medical district, Cummings Research Park, NASA’s Space Flight Center and Redstone Arsenal. And we are predicting occupancy growth as a result of this, its walkability and the structure’s distinctive modern design.”

Near job hubs

Meanwhile, demand for office space sparked the development of two new office buildings in Nexton, a master-planned Summerville, S.C. community situated near the region’s top employers, including Volvo and Boeing. One, Atelier Downtown Nexton, offers two-story buildings featuring 2,500 to 18,000-square-foot spaces in a campus like setting where office structures are connected by walking trails.

Developed by Sharbell Development Corp. of New Jersey, the development is the latest within the live-work-play milieu of Downtown Nexton. “The Southeastern U.S. has appealed to Sharbell for years, especially South Carolina, due to its population and job growth, as well as its burgeoning diversity,” says the company’s Thomas Troy.

“Many companies are relocating to the South in search of lower costs and higher quality of life for employees, and our developments reflect that shift.”

Not to be outdone, Workplace at Nexton, a Class A office park within the community, offers 3,000 to 20,000-square-foot spaces, and connectivity to Nexton’s residential side. Residents can walk to Nexton Square’s shopping, hotel and other commercial businesses. Workplace at Nexton’s office spaces had all been claimed before construction was completed, and there’s been no attrition.

“Garden office space with minimal shared common spaces, private entrances and outdoor parks have become the gold standard for commercial leasing in the Charleston, S.C. region,” says Cassie Cataline, Nexton director of marketing.

“Leasing interest for Workplace at Nexton was so great we are developing additional commercial campuses, such as The Hub, to provide office, retail and medical space to address this demand.”

Tatum here. Did you know there’s a new Viva Chicken location in Nexton? If you love chicken, Peruvian food, or exploring Nexton’s restaurant scene, this spot should be on your radar.

Viva Chicken is a Peruvian rotisserie chicken joint whose co-founder is from Peru. The menu includes bowls, salads, sandwiches, and rotisserie chicken or pollo a la brasa.

I recently got to check out the new location in Summerville. Keep reading for insider tips (read: what to order) + discover how you can Try This.

What we tried (with pricing):

I tried the quarter chicken with yuca + plantains ($9.55), the maracuya juice ($3.25), and a churro ($3.50). My pollo a la brasa was crisped to perfection + I got the huacatay sauce for a bit of a kick.

When I bit into the yuca (which is like a potato) I thought I’d fried + gone to heaven. Pro tip: Dip the yuca in the huancaina cheese sauce or pair it with maracuya for a sweet and tangy complement.

What not to miss:

If you’re craving pollo, order the quarter, half, or whole chicken with sides like cilantro rice, green beans, and plantains. The chicken is charcoal-fired + marinated in spices.

The eatery has plenty of healthy options like the Andina Power Food or the Inca Wrap. Plus, the menu is 70% vegetarian with the option to add a protein.

Choose from three sauces (all made in-house daily):

And wet your whistle with one of three signature juices:

What we’re still talking about: I learned that Viva Chicken partnered with No Kid Hungry and donates 50 cents for every churro sold. Talk about a win-win.

Also, the outdoor patio was the perfect spot to eat. If it’s a nice day, order on the app ahead of time + enjoy your food in the sunshine. ??

How you can experience this:

There are several ways to get your fix — order through the Viva Chicken App, online, curbside, in-store, or over the phone. Pro tip: Download the app, make an account + start earning VivaPoints. Earn 750 points to reach Aji Status and receive $5 off, 2,000 points to reach Haucatay Status and receive $7.50 off, and 3,500 points to reach Rocoto Status and receive $10 off.

Getting there: After turning left onto Nexton Square Drive, turn left again when you see Poogan’s Southern Kitchen + Viva Chicken is up ahead. Luckily, there’s plenty of parking.

Things to know if you go:

The company that’s building out a master-planned community in Berkeley County that’s as large as the Charleston peninsula is set to come under new ownership.

California-based Brookfield Residential announced this week that it is acquiring Newland, the developer of the 5,000-acre mixed-use Nexton neighborhood between Interstate 26 and U.S. Highway 176 near Summerville.

The sale of San Diego-based Newland, which is involved in 20 large master-planned projects around the country, is expected to be finalized June 1.

Financial terms were not disclosed.

A Nexton spokeswoman declined to comment on the pending sale.

“No major, significant operational changes are expected,” said Brookfield spokeswoman Krista Ellingson.

She said the company’s specialty is supplying homes and lots in constrained real estate markets such as Charleston, where a scarcity of homes on the market has dropped to less than a one-month supply, triggering bidding wars and pushing up prices.

“We just aren’t a homebuilder, we invest in land to build homes and sell to homebuilders,” Ellingson said. “We want to show our partners that we are in it with them.”

Bob McLeod, Newland’s executive chairman, said the Brookfield deal “will provide more opportunities for the continued development of additional mixed-use masterplans well into the future as well as give us significant additional vertical development opportunities.”

As of this week, Nexton has 1,266 occupied single-family homes in four subdivisions — Brighton Park, Del Webb, Midtown and North Creek. About 200 more are under development within the neighborhoods.

Nexton also has about 900 finished apartments in three complexes, with another 600 rental units on the way.

When build-out is completed in about 10 years, Nexton will have about 7,000 residences with about 17,500 residents. That will make it roughly equal to the current populations of Moncks Corner and Georgetown combined.

Brookfield Residential currently has no real estate operations in the Palmetto State. The Newland acquisition will expand its footprint to eight new markets, including Charleston, Raleigh-Durham and Wilmington in the Carolinas, and five other areas where both companies have projects in the works.

Last year, Brookfield’s revenue from home and land sales was $1.74 billion, about $200 million less than in 2019, mainly because of the COVID-19 pandemic, according to the company’s annual report.

During the first three months of 2021, total revenue topped $444 million, about 30 percent more than the first quarter last year, when the coronavirus began to spread throughout the overall economy.

Costa Mesa, Calif.-based Brookfield Residential is part of Canada’s Brookfield Asset Management, which oversees investment totaling $600 billion and is headquartered in Toronto.

Newland oversees the development of the Nexton tract for North America Sekisui House LLC. NASH, a subsidiary of Japan’s largest homebuilder, bought the property in 2017 from paper maker WestRock Co.’s former real estate division for $90 million.