Printer friendly version |   E-mail to a friend

 

Joint venture reveals pricey commercial project

Published Thursday, November 13, 2008 11:23 AM

By David Berman
Summerville Journal Scene ®

Both expensive and expansive, a mixed-use development in North Charleston known as Ingleside Plantation is planned to unfurl over the next 25 years, transforming portions of a wooded tract alongside Interstate 26 into destinations for living, working and shopping.

Weber USA, the stateside arm of German manufacturer Weber Automotive, has teamed with North Charleston developer The Weiser Cos. on the $750 million joint venture, which was announced Wednesday. Weber Automotive has local ties by way of a manufacturing facility in Summerville.

Talks between the two entities began about five months ago and were finalized last week, said Richard Weiser of The Weiser Cos.

Two pockets of the 1,760-acre tract are set for development. The property’s north end, near the intersection of U.S. 78 and Interstate 26, would be built up first. About 1.12 square feet of retail, restaurant, office and hotel space is planned, along with 264 residential units.

Preliminary work on the first phase could begin as early as mid-2009.

The second phase would take longer to mature — 20-25 years. It calls for the creation of a mixed-use town center including a total of 2.54 million square feet for offices, hotels, retail and parking decks. Also proposed are 240 additional residential units and the inclusion of a rail station should there be a commuter rail system by then.

“Here in (North) Charleston we have owned this hidden jewel for 10 years. Now we believe is the time to release this hidden jewel so the public can enjoy it,” Weber founder and namesake Albert Weber said, with the help of a translator.

Weber acknowledged the slumping economy and the hardships specific to the automotive industry. But Weber and others with a vested interest in Ingleside Plantation’s success say they are optimistic.

“Those who position themselves for that (positive economic) turn are the ones who will be prepared for development in the future,” North Charleston Mayor Keith Summey said.

“During this whole thing, we’re probably going to go through several ups and downs,” Weiser said.

Ingleside Plantation’s sheer size means it will have a longer-than-usual due diligence period, he said, adding that construction may not begin for another two years. By then, the economy could have undergone some significant changes, he said.

Weiser has seen slow, steady growth in one of his company’s other developments — Center Pointe in North Charleston, which now boasts “big box” stores, restaurants and an outlet mall. Ingleside Plantation would be about three times the size of Center Pointe. In fact, the announcement was hailed by city officials as the largest of its kind in the history of the state.

On Wednesday, Summey recalled a moment 13 years ago when he looked out from the North Charleston Coliseum at a then-undeveloped Center Pointe. “History is cyclical,” he said.

North Charleston, like so many communities in the Lowcountry, is experiencing growing pains. Summey said traffic studies completed for Ingleside Plantation — paid for by the developers — will benefit the entire city.

Ingleside Plantation will not sacrifice the environment to drive a profit, Weber vowed. Environmental sensitivity has been a focus for the company in Germany, he said, and such will be the case in North Charleston.

Contact David Berman at 873-9424 ext. 214 or dberman@journalscene.com

Notice about comments:

Journalscene.com ® is pleased to offer readers the enhanced ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Journalscene.com ® does not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not Journalscene.com ®. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website.

Users can now build user-to-user connections, follow friends' recent posts, add an avatar that fits their personality, and more. If you have posted here before you'll need to sign up again, or if you've never posted before, start now by reading our terms and conditions, and then signing up below!

• Ashley Ridge Swamp Foxes
• Fort Dorchester Patriots
• Summerville Green Wave
• Cathedral Academy Generals
• Pinewood Panthers