Developer plans $ 40 million multi-family complex on upper Meeting Street> Charleston Business Journal
A $ 40 million, 250-unit apartment building with retail on the first floor is expected to be built at 584 Meeting Street, replacing a modest brick house of worship used by the Eastside Baptist Missionary Church. The church plans to move to a larger space in North Charleston next year.
JJR Development of Charleston purchased the 1.6-acre church site for $ 4 million and is expected to submit renderings of the five-story project to the Charleston Architecture Review Board over the summer, said Jeffrey Roberts, Managing Member of JJR Development.
“There will be extraordinary 20 foot high floor to ceiling glass on the first floor for retail in the lobby and we are in discussion with a national retailer (tenant). There will be a garden element on the second floor and a green area, a swimming pool and a seating area, ”said Roberts. “We consider the highest and best utilization of 584 Meeting Street to be a mixed-use multi-family building with this type of signature retail. “
JJR Development is in partnership with MCZ Development from Chicago, who is moving to the Lowcountry, on the project. The church will continue to use the site until it secures its new space, planned for 3.5 acres at the intersection of Cross County and Dorchester Roads.
Roberts said the opportunity to purchase the land was unexpected. At the end of 2020, the former buyer of the church property withdrew from the deal at the last minute due to unexpected environmental mitigations that needed to be made on the property.
Roberts, who started JJR Development over two decades ago, was personally contacted by church leaders about stepping in to buy the property after the previous buyer’s withdrawal.
“It wasn’t on my radar at all,” Roberts said. “Church leaders knew me and knew we were able to step in financially and quickly,” said Roberts. “We get along so well with the church and its leaders, and the church was grateful.”
The purchase of the property by JJR Development allowed the church to repay its loans to the bank and move forward with relocation plans, said Dwayne Green, the church’s attorney.
“Suffice it to say it all worked for the benefit of the church,” Green said. “It was really a godsend, because it usually takes a long time to get one of these types of deals validated.”
JJR Development has assumed the responsibility of paying for the necessary environmental mitigation measures on the property.
“We worked DHEC and engineers and with the help of our environmental partner to Nelson mullin, and we fixed those issues, ”said Roberts.
Roberts said construction on the project will take more than a year, depending on approvals and permits, which is roughly when the new church space will be ready to move into.
“This will be a big project for us,” said Roberts. “We see this particular area along Meeting Street as conducive to growth and by the time this project is completed it will be a nice top notch offering. “
Contact Jenny Peterson at 843-849-3145.