Around Charleston
1 - New Luxury Rentals on Daniel Island - The Waterfront on Daniel Island is offering 128 luxury rental units between 777 & 1798 sqft with rents starting at $3000/mo. READ MORE
2 - South Carolina Could See More EV Chargers - A bill was just passed to promote private EV charging investments across the state, andit bans utilities from using ratepayer funds for EV stations. LEARN MORE
3 - Best of Charleston 2025 - The Charleston City Paper has released the winners of its Best of 2025 voting, with a record 469 categories, with one very special winner revealed at the bottom of this email. SEE ALL WINNERS
Historic Home of the Week
29 Bogard Street - This Charleston Single has been converted into a duplex with two 2-bedroom, 1 bathroom units just a short walk from Chubby Fish, Vern’s, and more.
4 Bed | 2 Bath | 1864 sqft | $1,799,999
I-526 Extension Has Officially Been Put to Rest
Here is an outline of the main points from the sources regarding the termination of the Mark Clark Extension (I-526) project:
After decades of planning, discussions, and lawsuits, and with a price tag that soared to more than $2.3 billion, the project has officially ended.
The end was cemented by a unanimous vote of the S.C. Transportation Infrastructure Bank (STIB) Board on May 12, which terminated the three-way funding contract.
This decision was considered inevitable in the months prior.
Primary Reason for Termination: Voter Rejection of Sales Tax Referendum
Charleston County voters dealt the project a "fatal blow" in November.
Voters overwhelmingly voted no on a half-percent sales tax referendum.
The proposed sales tax was intended to raise $5.4 billion, primarily to fund the Mark Clark Extension.
More than 61 percent of county voters were in opposition.
Only 11 out of 182 voting precincts supported the referendum.
Significantly, not one voting precinct on Johns and James islands, areas expected to benefit from the road, supported the tax.
Financial Aspects of the Project's End
The project's price tag soared over the years.
Just under $58 million had been spent on the project in total.
Most of the money spent was used to acquire land in the path of the road.
Charleston County expects to get $3.1 million back from the $8.4 million it had contributed.
Another $75 million that the county agreed to furnish was not spent.
The STIB will recoup $3.6 million.
The state's contribution was capped at $420 million when the funding deal was made in 2006, an amount that would have covered most of the cost then, but became a small part of it years later.
Land Acquisition
The state Department of Transportation (DOT) will continue to hold all the land purchased for the roadway's path.
This land is located on Johns Island, James Island, and in West Ashley.
The land acquisition cost $41 million.
The properties range from individual homes and small properties to land intended for entire Johns Island subdivisions.
An example given is a home on James Island purchased for $1.7 million in 2015 that has been vacant since.
Under the agreement, if land paid for by the STIB, or jointly with Charleston County, is used for non-transportation purposes, they would be paid fair-market value less costs. The county expects to get some money back if this happens.
Conservation groups note these lands offer opportunities for public access and conservation.
Original Plan for the Extension (I-526)
The plan called for extending the Mark Clark (I-526) from its current end in West Ashley.
It would cross Johns Island as a parkway-style road.
From Johns Island, it would continue to James Island.
The road was meant to link up with the James Island connector.
Aftermath and Future Outlook
After the referendum failed, the process was mostly about winding down the funding agreement.
County officials acknowledged that "the people spoke, we listened, and the state responded".
The challenge ahead is finding other ways to provide traffic relief.
Traffic needs are expected to continue to grow.
Johns Island, James Island, and nearby communities face persistent traffic problems due to limited access points (one bridge to the mainland, one to James Island).
Johns Island has seen significant population growth.
The county is working on other road plans related to Johns Island traffic, primarily focusing on Maybank Highway and Main Road.
A large project to remake the interchange of U.S. Highway 17 and Main Road in West Ashley is scheduled to begin construction in 2025.
303 Gippy Dr, Summerville, SC 29486
3 beds | 2 baths | 1306 sqft
$305,000
Located just 2.5 miles from the shops at Carnes Crossroads and 1.5 miles from the Goose Creek Walmart, this home has convenience AND value. This 3 bed 2 bath home is move in ready with an updated kitchen featuring granite counters and stainless steel appliances, large living room with vaulted ceiling, newer windows, a screened in porch, large yard with fence and an attached one car garage. And best of all...you get all of this in a neighborhood with NO HOA!
Thinking of selling and want your home featured in The ChuckTown Report? Fill out the application below.
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Weekly Mortgage Report w/ Chris Gonzalez
As of this week, the average 30-year fixed mortgage rate stands at approximately 6.92%. Additionally, we've seen an uptick in clients opting for adjustable-rate mortgages (ARMs), which offer more flexibility and potential savings in the current market. Stay tuned for further updates as we continue to monitor these trends!
Chris Gonzalez | Mortgage Loan Originator | NMLS#263360 | [email protected] | 843.810.4821
I am officially a “Best Of” winner!
With the release of the City Paper’s Best Of 2025 awards this week came a huge shock…I was named the Best Local Lifestyle Influencer for my reporting work on Instagram. I could not have done it without all of you supporting, sharing, and voting. I am beyond grateful for each and every one of you. Now comes the hard part…defending my title next year! Big things in the works to keep this train rolling to make sure y’all are kept up to speed with everything that is happening and changing the city of Charleston.
Thank you,
-Bill Olson
If you're looking to buy or sell a home in Charleston, Bill Olson & Pirate Properties can help you. We’re fast, friendly, knowledgeable, and fun to work with. We’ve helped hundreds of clients in real estate. Click below and start viewing what's available in Charleston today, calculate your home’s value, or schedule a no-obligation, no-pressure discovery call.
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