Construction has begun on Marlowe Summerville, a 278-unit rental complex on a 27.9-acre site in Summerville.
It is the first foray into South Carolina for The Resmark Companies, a Los Angeles-based real estate investment management company, which is partnering with Greystar Real Estate Partners, a Charleston-headquartered investment and development company with offices across the country and on four continents.
Marlowe is a Greystar brand marketed as “suburban luxury living.” The Summerville project on N. Main Street and College Park Road is the first Marlowe brand in the state, according to a news release.
“We are excited to make our first investment in the Charleston MSA with Greystar, a long-term and trusted partner,” Ziv Cohen, chief investment officer of Resmark, said in the news release. “Having worked together for a decade, we recognize that Greystar brings rigorous attention to design, quality and detail that results in great consumer response and community acceptance.”
Pre-leasing at Marlowe Summerville is expected to begin next fall, according to Stephen O’Neil, senior vice president for investments at Resmark. The community will offer amenities including a clubhouse equipped with a fitness center and co-working spaces, resort-style pool, grilling stations, pickleball courts, dog park and outdoor dog wash, as well as a grand central amenity lawn with shuffleboard, cornhole and a community garden.
O’Neil said in the release that Resmark was drawn to the site because of “Summerville’s location as a top-tier suburban market near Charleston, its attractive demographics, access to commuting routes and rapidly expanding employer base are all factors that underscore a strong outlook for multifamily development.”
The company also pointed to the site’s proximity to Camp Hall 10 miles away, a 7,000-acre commerce park that has attracted nearly $5 billion in investment and projected to create as many as 1,500 jobs for workers who will need a place to live, the release said.
“Summerville is a highly desirable submarket twenty miles northwest of downtown Charleston that is attracting young professionals and families drawn to its quality of life and historic charm,” Ben Liebetrau, managing director of development for Greystar Development and Construction Services. “As we are headquartered in Charleston, we are extremely pleased to bring Greystar’s Marlowe brand to our backyard.”
Of the 278 rental homes, 263 will be constructed in 10 separate three-story walk-up garden-style buildings. Fifteen two-story townhomes, each with a fenced yard and attached garage, will be located in two separate buildings. Ranging in size from 560 square feet to 2,114 square feet, the project unit mix will include 16 studios, 127 one-bedrooms, 118 two-bedrooms and 17 three-bedrooms, the release stated. Each unit will offer features such as granite countertops, wood-like luxury vinyl flooring and stainless-steel appliances.
Resmark is a real estate investment manager that provides capital to homebuilders, land developers and multifamily developers across the country.
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