Also planned is a 185-unit apartment project near Floyd Drive and Bees Ferry Road in West Ashley.Â
Both projects are expected to begin early next year and be completed in about 16 months, Hanks said.
While the apartment sale is believed to be the highest-priced multifamily transaction on the peninsula, a mixed-use apartment development on Daniel Island changed hands last spring for nearly $92 million.
Central Island Square, an apartment and retail development completed in 2018 on Daniel Island, sold in April for nearly $92 million to the Baltimore firm that bought Mount Pleasant Towne Centre two month earlier. Warren L. Wise/Staff
Maryland-based Continental Realty Corp. bought the 313-unit Central Island Square Apartments and its retail operations on the 8-acre site in early April in one of the largest commercial property transactions in Berkeley County.
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