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Noisette Project


Infinite1

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I agree^

Why does McConnell favor N Chas over everything? Surely its not just because of his store there.

it was the highest bidder. Keep in mind, he is also the guy that railroaded the port into expanded in North Charleston. He has no particular love for North Chuck, just for the Confederacy.

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The Noisette Co. now has a new deal with the City of North Charleston. Also, Sen Pro Tem Glenn McConnell wants a world class museum for the Hunley. So there won't be condos on top of it. Now, I know the Hunley is important, but come on... its not THAT important.

The article highlights a mumber of other items in the deal. http://www.charleston.net/assets/webPages/...ubDate=8/1/2006

...now that I've read more about Noisette, the Hunley, Clemson & McConnell & $100m, something isn't "so right". McConnell is a complete jerk...

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Three days after settling its debt with North Charleston taxpayers, the Noisette Co. announced Thursday that it borrowed $23.8 million to move ahead with design and infrastructure studies for the former Charleston Naval Base project. The company plans to transform two buildings on the base into residential lofts next year. He said infrastructure for about 125 acres is expected to start in the third quarter of next year. By Noisette's own account, $23.8 million is far from the total needed. According to a company proposal to the city last year asking for help, the total tab for reworking the base could top $175 million.

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Well, this article gives a different perspective on Noisette. Its been five years since they first announced this thing (with great fanfare) and so far they have very little to show for it, except for an increasing debt. I hope that this group will get things going on thie project in short order.

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^ One of my biggest fears for Charleston was that the housing boom would end before Noisette and Magnolia got off the ground. It's a shame, because they're the silver lining around all our pointless sprawl. Now that the R.E. slowdown is upon us, there's a chance these projects won't be fully realized. I still think that there's a greater chance they will be, but without the prospect of turning a quick profit on the residential units, there's less incentive for the developers to keep going into debt to get the job done.

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I'm not convinced that a suburban real estate slowdown would effect the national urban housing trend. There is a lot of positive redevelopment happening nationwide. I see no reason why Charleston would miss out on it.

I know that the Magnolia developers are dedicated to making it work. They have a lot of details to work with on that site because of al the ground contamination there.

Noisette I dont know about. I am certain that North Charleston would be glad to see that neighborhood revitalized, as would the people who have already invested money into the old houses there.

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^ I'm more confident in Magnolia than Noisette, because Magnolia is affliated with Mayor Riley, while Noisette is affiliated with Mayor Summey (or was). To have the city of N. Chas. basically wash its hands of you is not a good sign, neither is the fact that the developer went bankrupt during the last real estate downturn. There are definitely some negative signs appearing. All that being said, I still believe its more likely than not that Noisette will be fully realized. Or at least, let's hope so.

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^ I'm more confident in Magnolia than Noisette, because Magnolia is affliated with Mayor Riley, while Noisette is affiliated with Mayor Summey (or was). To have the city of N. Chas. basically wash its hands of you is not a good sign, neither is the fact that the developer went bankrupt during the last real estate downturn. There are definitely some negative signs appearing. All that being said, I still believe its more likely than not that Noisette will be fully realized. Or at least, let's hope so.

Thanks. I'm getting the same feeling, too. Noisette is a bust as long as it connected with Summey & McConnell...The McConnell connection is even worse...

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what most people fail to realize (maybe John Knott failed to convey) is that a lot of money is required, and they don't have that money as cash in hand. Originally Noisette was hoping to bond off the infrastructure improvements and pay it back though a TIF (tax increment financing). The city balked at that AFTER they had already sold the land to Noisette. Then the CMMC shipyard, which Noisette hoped to derive revenue from was bout by CMMC as per their right of first refusal in their existing lease with the RDA. They never saw that one coming either. So alot of their originally sought after revenue streams have been cut off. In the post that started this thread, they were looking to sell off parcels to generate some $$, but without adequate infrastructure, these parcels are not attractive.

But this project will happen oone way or another. There has been too much energy generated in the surrounding areas. Alot of adjacent areas are starting to turn over. The question is will it be the eco-friendly urban development that John Knott dreamed or some hybrid community that someone else picks up and finishes.

I'm not saying Noisette has done everything right, but alot of things certainly haven't gone their way that could have made a difference.

BTW, McConnell has nothing to do with the Noisette project. All he cares for is Hunley Museum. Since Noisette is giving N Charleston (back) the land for the Museum, they sought the right to build vertical over the museum, but McConnell stepped in to nix that.

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But this project will happen oone way or another. There has been too much energy generated in the surrounding areas. Alot of adjacent areas are starting to turn over. The question is will it be the eco-friendly urban development that John Knott dreamed or some hybrid community that someone else picks up and finishes.

Good point. I'm not as afraid the land will sit vacant so much as North Charleston will be forced to settle for something inferior to the original plan.

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thanks for the info...no kudos for McConnell. and since i still look & weigh (good South Carolina genes!) the same, but so much older (47!!!) than I were when i left home 25 years ago, i hope i live to see part of a blossomed noisette and magnolia when i return to charleston in the near future...

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  • 1 month later...
  • 2 months later...

More problems with Noisette. The company is asking the city for an extension to its contract to finish the riverside park due to problems with regulatory agencies. Noisette is trying to avoid a $1,000-a-day fine for not completing the seawall and boardwalk by the end of this year. According to the article link below, many city council members don't want to give an extension. Relations between the city and the company have deteriorated since this project was initially started.

The deadline is part an agreement between the city and the company in July to sever financial ties. Questions were raised about Noisette's finances and the semi-adequate construction of the city's centerpiece park last year, causing a rift in their relationship.

Noisette seeks extension on park

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^ Heh heh, yep I got the article link for that below.

At first glance of the first story, you would've guessed that city council would not grant the extension, since so many were vocally opposed to it. Upon further reading in this article, the extension was granted because it really wasn't Noisette's fault. Our state's glorious (insert sarcasm here) DHEC, in its benevolence and wisdom, is taking longer to give the company the finishing permits for the project.

Good judgment did prevail here, thank goodness. However, it is very frustrating to witness the slow, grinding progess of this project.

Noisette granted extension

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  • 2 weeks later...

Almost forgot:

The Charleston Navy Shipyard Historic District has been granted a listing on the National Register of Historic Places--let the rehab tax credits begin! :yahoo:

Also, Noisette has set up a website for the Navy Yard development: http://www.navyyardsc.com/

It is, like all that Noisette touches, very well-done.

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One can only wonder how many "planned communities" or "new town" developments the Charleston market can realistically absorb. The Noisette property has some incredible old officer's quarters and other unique old buildings that could make it really special if properly designed. But are there enough buyers for Noisette, Magnolia, Daniel Island, and all the others. Does anyone know the number of homes sold by price range during the last 12 months in the Charleston market?

^ One of my biggest fears for Charleston was that the housing boom would end before Noisette and Magnolia got off the ground. It's a shame, because they're the silver lining around all our pointless sprawl. Now that the R.E. slowdown is upon us, there's a chance these projects won't be fully realized. I still think that there's a greater chance they will be, but without the prospect of turning a quick profit on the residential units, there's less incentive for the developers to keep going into debt to get the job done.
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I'm not sure what happened with those pictures either. If you can, post them here again. If not, its cool.

I had those pictures that I took of the Navy Yard's beautiful old storehouses and other buildings removed for several reasons:

1) when the "Photo Tour" forum I began was incorporated into the Noisette one by request, the pictures didn't transfer

2) when in the original post, the photos were tiny, and had to be clicked to show up bigger (this is due to my ignorance on how to do otherwise)

3) despite all my effort to take and post them, they garnered a grand total of ONE comment

All of these combined to curb my enthusiasm considerably for my little forum, not to mention my taking or posting pics in the future in any forum. So, I have not bothered. -_-

A retreat center and botanical gardens are the latest plans for the old Navy base in North Charleston. Botanists, architects and landscapers will pull together a plan for the area that was once part of Chicora Gardens established in the 1880s, Noisette President and CEO John Knott said.

Woo-hoo!! :yahoo: This is what I'd been hoping would happen for this area. Thanks, Krazee, for posting this exciting and welcome news! John Knott's plans for Officers' Row is perfect, and a brilliant example of adaptive reuse.

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  • 7 months later...

North Charleston city officials are considering diverting millions of future tax dollars to jump start the Noisette redevelopment by tearing out existing roads and reshaping the base according to Noisette's master plan.

Mayor Keith Summey said Noisette would seek up to $60 million in private loans to begin work on roads and utilities in the large parking lot at the McMillan Avenue entrance. Those loans would be repaid by future taxes collected on property in the redeveloped area. The idea is that the loan to Noisette would spark development and would make the land more valuable, thus increasing taxes.

A timeline of the development thus far can be found here.

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