{"id":21,"date":"2017-03-17T16:32:11","date_gmt":"2017-03-17T16:32:11","guid":{"rendered":"http:\/\/urbancoreadvisors.com\/blog\/?p=21"},"modified":"2017-03-23T21:48:49","modified_gmt":"2017-03-23T21:48:49","slug":"if-we-dont-build-it-they-are-still-coming-3-17-2017","status":"publish","type":"post","link":"https:\/\/urbancoreadvisors.com\/blog\/2017\/03\/17\/if-we-dont-build-it-they-are-still-coming-3-17-2017\/","title":{"rendered":"If we don\u2019t build it, they are still coming. 3-17-2017"},"content":{"rendered":"

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So everyone has heard the old saying, \u201cBuild it and they will come\u201d. But in Charleston we are dealing with a new reality, \u201cIf we don\u2019t build it, they are still coming.\u201d As I have stated in other BLOG postings, Charleston is experiencing the most significant level of growth it has seen in decades. The Charleston Region is being recognized by countless publications and media outlets for everything from our thriving tourism industry<\/a> to the tremendous growth of our economy<\/a>. \u00a0It is because of our region\u2019s success that we are seeing a tremendous amount of development and for many development fatigue is at an all-time high. \u00a0The reality is that Charleston is going to continue to grow whether we like it or not. But like in business, if a City is not growing it is dying.\u00a0 So I would contend that growth is not bad, as long as it is done in a meaningful way that is sustainable, adds value to our community and enhances the quality of life for our residents.<\/p>\n

Because of the growth we are seeing in Charleston, demand for investing in real estate<\/a> in our City is going to continue to grow exponentially into the future. Moreover, with the continued growth of Self Directed IRAs more individual investors are choosing to invest in alternative assets in their retirement accounts such as real estate. \u00a0In our current macroeconomic environment raising interest rates and inflation are realities that individual investors must be prepared to contend with. And investing in real estate can be a great hedge against inflation<\/a>.<\/p>\n

One most recent example of demand driven development in Charleston is the West Edge<\/a> project located on the west side of the Peninsula. When the project is complete it will contain 1.5 million square feet of residential housing, 880,000 square feet of office space, 290,000 square feet of retail space and 280,000 square feet of hotels. Needless to say this is a massive project that will change the landscape of the west side of the peninsula. And this is just one example of development in our City.\u00a0 Next time you are driving over the Cooper River Bridge count how many cranes you see and compare that to the number of church steeples. It is staggering.<\/p>\n

So given all that, how do we encourage sensible growth that preserves the charm and character of our City? First, we must come to the realization that when you are named the number 1 City in the South<\/a> people are going to want to move here. \u00a0So the reality is, \u201cIf we don\u2019t build it, they are still coming.\u201d \u00a0\u00a0Second, if developers focus their efforts on re-purposing existing building stock versus trying to squeeze every ounce of profit out of a project to justify the cost of the dirt they can enhance the charm of our City\u2019s current building inventory. Lastly, every project needs to operate from the philosophy that it will be an asset to the community and not a liability.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

So everyone has heard the old saying, \u201cBuild it and they will come\u201d. But in Charleston we are dealing with a new reality, \u201cIf we don\u2019t build it, they are still coming.\u201d As I have stated in other BLOG postings, Charleston is experiencing the most significant level of growth it has seen in decades. The […]<\/p>\n","protected":false},"author":2,"featured_media":25,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-market-trends-and-the-economy"],"_links":{"self":[{"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=21"}],"version-history":[{"count":6,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/21\/revisions"}],"predecessor-version":[{"id":36,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/21\/revisions\/36"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/media\/25"}],"wp:attachment":[{"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/urbancoreadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}