SC Biz News: Charleston businesses donated more than $46,000

Charleston businesses donated funds to keep the Charleston Area Regional Transportation Authority’s Route 20 running for free for six more months. Feed the Need, The Peninsula Company, McAlister Development Co., and several others donated more than $46,000 to the cause.

The route was made free after the Bi-Lo on Meeting Street closed.

(Photo/Liz Segrist)

(Photo/Liz Segrist)

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Charleston’s home rental rate jumps: 5th in nation

The price of renting a home in the Charleston-North Charleston region is still on the rise, as stated by the Post & Courier.

The area registered the fifth highest rental rate increase for single-family homes in the nation during the third quarter of 2016, according to housing industry data provider RentRange.

The report of the top 25 metropolitan areas with rent increases found rates in the Charleston region jumped 11.7 percent over the same July-September period in 2015. The report did not specify a dollar figure for the median rental price of houses in the Charleston region.

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Charleston Hotels Remain Strong

According to a recent article by the Post & Courier, the plethora of hotels across Charleston County continue to see health occupancy rates – 85% in June. While this may not sound like “news,” it is important to note that there are nearly 16,000 rooms available by hotels, new and old, throughout the area.

hotels article

According to Dan Blumenstock, chairman of the Charleston Convention and Visitors Board, “that’s a strong occupancy percentage,” particularly on a national scale.

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Mega-Developments are on the rise

A new wave of so-called “mega-developments are showing up across the Lowcountry – 11 to be exact. While the area has certainly seen it’s share of large developments, this number in the works at the same time is a first. “At 11 locations across the tri-county Charleston metro area, a wave of town-size developments could create new houses and apartments for nearly 200,000 people,” notes the Post & Courier.


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The Peninsula Co – Your Source for Charleston Real Estate

Why choose the Peninsula Co as your source for Development. Because we know this market. Our associates represent years of experience and we We’ll help you experience the richness and diversity of Charleston and the surrounding areas.

Our development team can give you an honest analysis on the best way to manage your asset. We know Charleston commercial real estate-downtown properties, multi-family, land, shopping centers, restaurants, and office. Leverage our resources and relationships to help you reach your goal.

Ultimately, what you get with The Peninsula Co is so much more than you would get working with a single specialized agent. Our team works together to help clients with all aspects of their projects. You get firsthand knowledge that spans commercial, residential, development and property management in Charleston, South Carolina. Contact us today!