Mount Pleasant Magazine Sept/Oct 2014

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Dwelling
RisingTides
Condo ComplexWill Add
A Fourth Building
Ahigh-profile luxury
condominium neighborhood that
struggled during the recession is well
on its way to completing a comeback
East of the Cooper.
Construction on a fourth
building at Tides Charleston, located
within hailing distance of the Arthur Ravenel Jr. Bridge,
is scheduled to get underway early in 2015, according
to Miller Harper of East West Partners, the national
developer that repositioned 50 foreclosed residences at the
Wingo Way complex in 2012.
East West sold those units in a just over a year after
bringing them back to market, and plans are now afoot
to expand the waterfront community after the Mount
Pleasant town council granted zoning approval in July.
It’s especially good news for those in the luxury
property market looking to transition away from a single-
family home. Tides IV, as the new project is known,
will be the first new high-end residential condominium
community in the market since 2008.
“People in Charleston and Mount Pleasant are
increasingly drawn to the hassle-free ‘lock-and-leave’ lifestyle
that luxury condominiums offer,” Harper said. “When
you’ve got one of the world’s greatest cities minutes away,
when you’ve got top-class beaches just down the street, you
don’t want to spend time pulling weeds in your yard.”
Downs anD Ups
Construction on the second and third buildings at
Tides was completed in 2008 – just in time to get rocked
by a nationwide recession. Three years later, East West
Partners teamed up with Charleston Harbor Holdings to
buy the 50 units that remained vacant.
The move proved prescient.
According to Tides sales figures, in 2012, three units
sold for an average of less than $500,000. The following
year, 51 condominiums changed hands at an average price
of almost $800,000. Through the first five months of
2014, sales prices were closer to $950,000.
“To have gone from foreclosure to plans for a fourth
building so quickly is a testament to what Tides offers, the
draw of Charleston and the rebounding market overall,”
Harper said.
new BUilD
Harper said that buyers will notice differences between
Tides IV and the first three buildings, mostly because the real
estate world is a different place than it was a decade or so ago.
“We’ve been able to work with lots of homeowners, and
we realize that their preferences have evolved,” Harper said.
Residences at Tides IV will offer wide-open and airy
living and dining rooms, fewer hallways, large windows and
spacious terraces. Kitchens will be designed to be the hub of
the indoor living area. And the residences will also be built
to take full advantage of classic marsh and river views.
Like Tides’ first three buildings, the fourth will offer
luxury finishes will be built to withstand the forces of
nature, from hurricanes and to seismic events. Amenities
at Tides IV will include a fitness club, an owners’ lounge, a
pool and concierge services.
Construction at Tides IV is scheduled to begin in the
first quarter of 2015, with completion set for the middle
of 2016. The building will feature a mix of one, two and
three-bedrooms residences.
“The Lowcountry is a perfect climate for development,
given its notoriety as a destination, its year-round livability
and its high-wage workforce,” Harper said. “Those three
factors don’t dovetail often, and we’re very excited for the
tremendous opportunity here.”
For more information about Tides, visit .
An artist’s rendering of whatTides will look like when the fourth building is completed. Photo courtesy of Tides.