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Daniel Island 254 Seven Farms Drive Condos


Story last updated at 8:18 a.m. Saturday, November 13, 2004

Intense interest leads Daniel Island to host drawing for 254 Seven Farms Drive condos
Of The Post and Courier Staff

You would 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.

Notably, 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.

It's a case of "fantastic demand," said Dan Kingsbury, vice president of sales for Daniel Island Real Estate Co.

The 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.

The 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.

About 40 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.

In 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.

Trammell 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.

"They 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.

The 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.

Now, Daniel Island can "offer more entry-level price points," said Julie Dombrowski, spokeswoman for Daniel Island Co.

Along 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.

Interest 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.

Home 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.

There are 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.



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