Monday Properties, a FrontRange Property Fund III platform company, announced it broke ground on The Willow in North Charleston, South Carolina. At the groundbreaking ceremony, Monday Properties announced that the clubhouse at The Willow will be named The Graber House in honor of Lance Graber, FrontRange’s co-founder who passed away last year following a battle with cancer. Lance served on the board of Monday Properties and was instrumental in the structuring and approval of this development. The following press release contains additional details on the project.
Monday Properties, an industry-leading multifamily developer, in partnership with Glenmont Capital Management, has broken ground on The Willow in North Charleston, South Carolina. The team purchased the site in November 2021 and secured $48 million in construction financing from Sandy Spring Bank. The 338-unit, Class A multifamily community is expected to deliver in late first quarter of 2024.
“Building on the success of Monday’s completed multifamily developments in the greater Charleston area—the Mason and the Hudson—we see tremendous opportunity to further expand our footprint in the region by delivering another first-class property that meets the market’s growing demand for accessible luxury,” said Frank Craighill, Senior Vice President of Development at Monday Properties. “Charleston is home to one of the fastest growing and most dynamic economies in the southeast, and we are excited to deepen our presence in the area with the development of The Willow.”
Located off Ashley Phosphate Road, one of North Charleston’s busiest retail corridors, residents will have an abundance of nearby retail, dining, and entertainment options. The Willow is in close proximity to I-26, as well as major employers including Boeing, Daimler, and the Charleston International Airport.
The project is uniquely designed to provide a highly-amenitized, private residential community with a tranquil and low-country, but modern feel. Details include large wrap-around porches and a top-of-the-line, resort-style amenity package including a zero-entry, saltwater pool, grilling cabana, pickleball court, outdoor fitness area, and stunning courtyards. Residents will enjoy the expansive clubhouse, complete with a 24-hour fitness center and yoga studio, a lounge and game room, and a covered patio overlooking the pool, as well as other indoor amenity spaces, including a variety of co-working and conference spaces and a community room. The pet-friendly community will also feature a lush, half-acre dog park for residents.
“The Charleston market, as well as the greater southeast, are part of our broader multifamily investment strategy, which involved doubling down in home markets like Stamford, Connecticut, and Alexandria, Virginia,” said Timothy Helmig, Managing Partner at Monday Properties. “The post-COVID landscape further reinforced multifamily as a safe and high-demand investment. With key differentiators, like positive rent trends and transaction volume in Charleston, we feel confident in a successful lease up after the Willow’s delivery.”
The Willow is located at 7562 Plantation Road in North Charleston, South Carolina. For more information, please visit www.mondayre.com/portfolio/the-willow.
About Monday Properties
Monday Properties is a vertically integrated real estate investment firm that owns, operates, develops and invests in a dynamic portfolio of mixed-use properties. Since 2002, the firm has completed over 87 property transactions representing 35 million square feet and $16 billion in capital value. Monday Properties uses their comprehensive strategy based on high-growth markets and opportunistic investments to deliver unique commercial and residential investment offerings that transform communities and focus on connectivity. The company’s current portfolio totals more than 5 million square feet of commercial office space, as well as 5,300+ multi-family units that are either developed, planned or under construction. For more information on Monday Properties, please visit www.mondayre.com.