$80 million Midtown hotel and retail project officially underway
Demolition has started and pilings are being driven, but the ground-breaking ceremony for one of downtown Charleston’s most ambitious redevelopment projects today officially launched the long-awaited Midtown project.
Officials with Regent Partners of Atlanta and Charleston-based CC&T Real Estate Services along with other dignitaries grabbed ceremonial shovels at 556 King St. to turn some dirt, officially kicking off the $80 million hotel and retail complex on 2.4 acres at King and Spring streets.
The project will include a 10-story, dual-branded Hyatt House and Hyatt Place hotel with 304 guest rooms, retail shops and a seven-story, 403-vehicle parking deck, which the city will eventually own. All told, Midtown will include four new structures and two renovated buildings for a total of 433,000 square feet.
“We are excited about this ground-breaking, but we look forward to its completion,” said Robert Clement of CC&T Real Estate Services, a partner in the project with Regent Partners of Atlanta. “We haven’t made any money yet.”
The developers expect construction to be completed by spring 2015.