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krazeeboi

Magnolia vs. Noisette

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Here's an article from the most recent edition of the Charleston Business Journal comparing the two developments. The intro:

In many aspects, Robert Clement III and John Knott have a similar mission. In North Charleston, Knott, CEO of The Noisette Co., is trying to churn an urban community out of the old Charleston Naval Base that closed over a decade ago. In Charleston, on the neck of the peninsula, Clement is working to reshape a lifeless industrial site into a desirable neighborhood called the Magnolia development.

Both developers are seeking identical public financing from their respective city councils.

Physically, the projects are only a few miles apart, divided by the invisible line separating North Charleston from the Holy City. Both developers aim to prop up these struggling parts of the region, saying they are driven by a higher calling to break the cycle of crime and hopelessness that has beset both areas.

But politically, it seems, the projects may as well be on different planets.

Both projects are crucial elements in the region's urbanization, and I hope that both really get on the fast track.

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Thats so true. That real estate is probably among the best in Charleston in terms of location. I really hope they are successful at expanding the downtown core of housing north and creating a seamless and less crappy line between Charleston and the north area.

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It appears the Magnolia project is dead. Should have more info in a few days. This is unfortunate but not surprising due the state of real estate these days.

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It appears the Magnolia project is dead. Should have more info in a few days. This is unfortunate but not surprising due the state of real estate these days.

Here's the link to the article to today's P&C article confirming the demise - at least for now - of the Magnolia project:

http://www.postandcourier.com/news/2011/apr/15/mini-city-project-on-neck-idled/

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