BeeStreetLoftpricing.pdf

What’s the buzz? Luxury downtown development finds a place to grow overlooking Ashley River from Bee Street By Jim Parker The Post and Courier Saturday, July 7, 2007 Luxury downtown development finds a place to grow overlooking Ashley River from Bee Street Leroy Burnell/The Post and Courier A large living room opens onto a balcony in the third-floor Ariel. Houston-based Bomasada Group is the developer. BEE STREET LOFTS Neighborhood -- Bee Street Lofts. Location -- Charleston County. Developers, marketing -- Bomasada Group, Agent Owned Realty Co.   WEB SITE: -- www.beestreetlofts.com. Total condos -- 108. Condo sizes -- 806-2,053 square feet. Condo prices -- $407,000-$1,065,000. Typical features -- High ceilings. -- Concrete floors stained to resemble hardwood. -- Stainless-steel kitchen appliances. -- Balconies with expansive views. -- Jetted tubs. -- Granite countertops. Property taxes -- $4,372 on a $600,000 condo. Area attractions -- Hospital district including Medical University of South Carolina, Riley Park, Ashley River, City Marina, historic Charleston, Porter-Gaud School, Ashley Hall, Septima P. Clark Crosstown, James Island connector, Interstate 26. Distance to downtown Charleston -- 1 mile. Schools -- Memminger Elementary Grades K-6; phone, 724-7778; enrollment, 331: certified staff, 31; PACT results, 16.7 percent of fifth-graders scored proficient or advanced on English/Language Arts, 14.6 percent on math, 9 percent on science and 11.3 percent on social studies. -- Burke Middle Grades 7-8; phone, 724-7768; enrollment, 267; certified staff, N/A; PACT results, 7.9 percent of eighth-graders scored proficient or advanced on English/Language Arts, 3.3 percent on math, 3.8 percent on science and 3.2 percent on social studies. -- Burke High Grades 9-12; phone, 579-4815; enrollment, 646; certified staff, 90; SAT results, 379 verbal and 368 math. The 747 combined score is lower than the state average (985) and the national average (1021). Housing Trends -- Peninsular Charleston inside of Crosstown: Number of sales in the first quarter of 2007: -- 61 (down from 90 in the first quarter of 2006). Average sales price: -- $832,500 (up from $757,400). Median sales price: -- $599,000 (up from $520,000). -------------------------------------------------- Luxury downtown development finds a place to grow overlooking Ashley River from Bee Street -------------------------------------------------- The property at 150 Bee St. doesn't have to worry about being overlooked. Rising eight stories, the 108-condo Bee Street Lofts has taken a spot in the Charleston skyline from the Ashley River bridge. It's also one of the few large new residential developments downtown. This area of the peninsula, which is going through a revitalization of new and existing housing, retail and accommodations, is the only place to grow, said Rebecca Andrews, sales associate for Bee Street Lofts, marketed by The Agent Owned Realty Co. As a mini high-rise, Bee Street Lofts provides breathtaking scenes of the Ashley River and surroundings. But it's more than just a tall building. The development showcases 10 floor plans, with various design tweaking to offer 41 model variations, from 806 to 2,053 square feet. Condos cost from $407,000 to $1.065 million, with top-floor penthouse suites sporting 18- to 20-foot ceilings the highest valued units. From $275 to $650, "it's a pretty wide range of price per square foot," Andrews said. Lofts start on the third floor, the first two levels are covered parking; every owner gets one space. Every home has a balcony or patio doors. Those below the penthouse have 10 1/2-foot ceilings. There are two large courtyards on the third level. Dwellings are one to three bedrooms and one to 3 1/2 baths. They're named the Metro, Vogue, Strata, Nuvo, Mercury, Vista, Aurora, Eclipse, Ariel and Panorama. While designs vary, the condos offer many standards. They include stainless-steel appliances, granite countertops and travertine backsplashs, flat-screen TVs, high-speed Internet access and electronic alarm systems. "There is a very close collaborative effort between us and the architect," said Stuart L. Fred, president of developer Bomasada Group, who visits the Charleston project every two weeks or so. Texas-based Bomasada, a national builder, is general contractor on the Bee Street Lofts, which also has included local investors. The company combined traditional themes such as ceiling fans and art niches, with contemporary looks such as exposed metal pipes overhead and special concrete floors stained to look like hardwoods. Select lofts are available with extra amenities such as built-in wine racks and chillers, wall-mounted self-cleaning ovens, dual sink vanities and built-in computer desks and bookshelves. It's also practical construction: Developers said the structure can withstand sustained winds up to 145 mph. The condos' open space and sizable share of standard features "sets the tone," Fred said. "All the design and layout was done way in advance," he said. Leroy Burnell The Post and Courier As a mini high-rise, Bee Street Lofts provides breathtaking scenes of the Ashley River and surroundings. Buyers have included second home owners who spend half their time in Charleston, young professionals such as medical interns at local hospitals, seniors downsizing from large homes and a few young families, Andrews said. Owners' regime fees, based on the square footage, average 40 cents a square foot or about $322 to $821 a month. The condos are selling well, and the first owners should move in by the end of the summer, Andrews said. She credited Bomasada Group with creating a one-of-a-kind development. "They did a fabulous job making it look different, not cookie cutter," she said. To reach Bee Street Lofts from downtown Charleston, take Lockwood Drive heading north and turn right on Bee Street. The lofts are on the left. Or take Bee Street west and turn right at the Comfort Inn. Coming on the Crosstown, turn left onto Lockwood Drive, then left on Bee Street, with the condos on the left. Reach Jim Parker at 937-5542 or jparker@postandcourier.com. Copyright © 1997 - 2007 the Evening Post Publishing Co.