Condos to replace Myers Park complex
Demolition of Sutton House Apartments to start around April
DOUG SMITH
A South Carolina multi-family developer plans to replace a 44-year-old
Myers Park apartment complex with luxury condos.
Estates Inc. of Columbia will develop 56 units selling for $415,000 to
$660,000 in two buildings at 511 Queens Road.
The condo project will be named 511 Queens.
The Sutton House Apartments will be demolished to clear about 1.5 acres
for the estimated $26.5 million project between Dartmouth Place and
Colonial Avenue.
Joe Walker, senior vice president of development, said the company was
familiar with the market from having built the 1420 Magnolia apartments
off Park Road near SouthPark mall almost seven years ago.
When he got a call about the property becoming available on Queens Road
in Myers Park, his ears perked up immediately.
As a high-end multifamily developer, Estates is continually scouring
the Southeast for prime in-fill development sites, he said.
Myers Park and neighboring Eastover are among the city's most popular
areas for downsizing empty nesters.
More than a half dozen upscale condo and townhome projects have sprung
up in Myers Park over the past few years.
One reason is empty nesters and retirees often want to maintain their
shopping patterns and stay within their social circles without the upkeep
of a large house.
Estates plans mainly two-bedroom, two- or 2 1/2-bath semi-custom flats
from about 1,300 to about 1,900 square feet at a price point just below
Myers Park's highest end projects.
Buyers can customize units by choosing from available interior features
and finishes.
Buildings will be four stories each over covered, secured parking
structures containing an average 1.8 spaces per unit.
Walker said the multifamily zoning was in place for the condos, but the
developer collaborated with Myers Park neighborhood leaders on the design.
Estates has owned and operated the Sutton House Apartments for nearly a
year under an entity named Five-Eleven Partners LLC.
Walker said residents are moving out as their leases expire. The
six-story apartment building is about 67 percent occupied, he said.
Once the complex is empty, probably near the end of April, Estates will
begin demolition.
The goal is to start construction of the brick-and-stucco condo
buildings by June and complete work by fall 2008, Walker said.
Missy Stewart of Bissell Hayes Inc., Realtors, who is handling sales
and marketing, said the developer plans a kickoff event for brokers
Wednesday.
Charlotte's Via II Architects designed the condos. Walker said
privately held Estates is negotiating with a lender and a general
contractor.
Estates' other luxury condo developments include The Renaissance on
Charleston Harbor in Charleston, The Verandas in North Myrtle Beach and
1140 Ocean Boulevard in Isle of Palms, S.C.
Development
511 Queens
Size: 56 units in two buildings, mainly two-bedroom, two- or 2
1/2-bath flats, roughly 1,300 to 1,900 square feet.
Price: $415,000 to $660,000.
Location: 511 Queens Road.
Features: Custom cabinetry, granite countertops, center islands
in kitchens, ceramic tile flooring and showers in baths, garden tubs and
single showers in master bedrooms, walk-in master closets, 10-foot
ceilings in living areas, hardwood flooring, carpet in bedrooms and
closets, stainless steel appliances, private social terraces.
Developer: Columbia-based Estate Inc.'s Five-Eleven Partners
LLC.
Design team: Via II Architects, Design Resource Group.
Timetable: Construction to start in June. Completion, fall 2008.
Sales: Bissell Hayes Inc., Realtors.
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