updated at 8:18 a.m. Saturday, November 13, 2004
interest leads Daniel Island to host drawing for 254 Seven Farms Drive condos
The Post and Courier Staff
be hard-pressed to notice from watching the construction, but a series of moves
transpired this fall that radically changed a row of new high-rises in Daniel
Island's emerging downtown area.
the developer converted the dwellings from rental properties to ownership, while
changing the name to 254 Seven Farms Drive. Then on Nov. 17, sales agents will
hold a drawing to determine who can purchase the 140 one-, two- and
three-bedroom homes, figuring it was the fairest way to allocate homes among
more than 700 people who want to buy.
case of "fantastic demand," said Dan Kingsbury, vice president of sales for
Daniel Island Real Estate Co.
project goes back a couple of years when Trammell Crow Residential decided to
build what was then called Alexan apartments. But with construction well under
way in September, the developer abruptly switched gears, choosing instead to
sell the units as condos, constructed at below market cost-per-square foot and
offered to the public at $110,000 to $205,500.
fiber-cement sided homes range from 756 square feet to 1,363 square feet. They
are spaced among eight three-story buildings. Some condos have woods views,
others are built around a planned swimming pool.
percent of the condos are two-bedroom, 15 percent three-bedroom and the
remainder, one-bedroom. Homeowners association dues are $155 to $240 a month.
addition, the builder is completing construction of 25 condos of brick and of
stucco that front on Seven Farms Drive. The second- and third-story dwellings
will be sold as residences while the first floor will be retail and office
space. Nearly all of the 1,208- to 1,228-square-foot condos, priced from
$215,000 to $231,500, will have their own garages and many will have gourmet
kitchens. This last phase should be on the market by the end of the year.
Crow Residential's late-game decision to change the well-appointed dwellings
from apartments to condos involved both economic considerations and the desire
to give buyers with tighter budgets a chance to locate on Daniel Island, where
$200,000 is now considered a starter-home figure.
basically said, 'Wow, the market's so hot,' " Kingsbury said. The plan was to
keep the condo cost below $160 a square foot. That way, the smallest one-bedroom
units could sell for an affordable $110,000 and even the largest dwellings would
cost not much above $200,000, appliances included.
contractors didn't cut corners in keeping the per-square-foot-cost down. Crown
molding and a mix of track, recessed and chandelier-like pendant lighting are
standard, and built-in bookcases are one of the available extras.
Daniel Island can "offer more entry-level price points," said Julie Dombrowski,
spokeswoman for Daniel Island Co.
with the affordable prices, 254 Seven Farms Drive will have perks such as the
pool, fitness center and cabana, a small park and 14 nearby garages priced at
$17,500 apiece. Amenities should be finished by early 2005.
in the condos comes from a range of demographic groups, such as young couples
and families interested in the new Daniel Island school grades K-8 that is to
open in 2006, seniors, single professionals and "lock and leave" types who don't
want the hassles of yard maintenance.
shoppers who want to move to Daniel Island are aware that the condos, based on
cost and quality, are a one-time deal. The price is "like a three-year price
rollback," Kingsbury said. "It's not going to come back here," he said.
two routes to reach 254 Seven Farms Drive from downtown Charleston. Take U.S.
Highway 17 North across the Cooper River bridge to Mount Pleasant and turn on
Interstate 526, or get on Interstate 26 and turn onto 526 east. Either way, exit
at Daniel Island. Follow Seven Farms Drive just past the intersection with
Daniel Island Drive. Turn right on Bucksley Lane. The condominium sales office
is on the right.