Living in Charleston, SC and How Moratoriums Can Raise the Competition
With Charleston, SC being named the Best City in the World and more and more people discovering how amazing living in Charleston, SC really is, the fact that 43 new people are moving to the Lowcountry every day makes sense.
It’s not unreasonable to also understand such growth can cause problems such as drainage and traffic problems so town council members are making sure the best city in the world can keep up with supply and demand while maintaining the charm, prestige, and ambiance the Holy City is known for.
Moratoriums, or halts/freezes on development and building, have already been implemented or are currently under review in many parts of the Lowcountry which could make buying real estate in Charleston, SC more competitive than it already is! With homes flying off the market within 24 hrs of listing and highest and best offer situations coming into play, if you’ve ever considered living in Charleston, SC now is the time to go ahead and get yourself in the game.
Mt. Pleasant, SC: Mount Pleasant is the most sought after area in the Lowcountry and a two year freeze on new apartment developments has been approved by area lawmakers. The town is also in talks to raise developer fees to maintain the area’s infrastructure.
James Island, SC: The city recently voted to uphold a 6 month building moratorium on large buildings in the area changing the original restrictions affected from structures with more than four residential units per acre or were larger than 15,000 square feet to only affect structures that are 25,000+ sq. ft.
West Ashley: West Ashley has their eyes set on preserving their community and improving all areas of the town for both current and future residents. There are no current moratoriums in place at the moment, but community improvements such as public parks, green space, bike paths and traffic conditions rather than more housing developments are where their loyalties lie.
Downtown Charleston: No current moratoriums are in place;however, the city has super strict regulations regarding new home construction and renovations and are also reviewing the current rules on hotel development. City planners are weighing all options to implement safeguards concerning employee parking, valet parking demonstrations, and requirements for free shuttles and transportation services from tourists staying in hotels located outside the peninsula.