What Charleston Will Look Like in 2030
It’s no secret that Charleston has seen a steady increase in population, economic activity, and tourism. The demand for real estate is high and rising, and it seems like a new trendy boutique or world class restaurant opens every week. The year 2030 may feel like the distant future, but the mere decade and a half is sure to pass quickly, and bring a wealth of change. Here are some of the areas we think will see the most drastic shifts in the next 15+ years.
Transportation: If you live, work, or play in downtown Charleston, you have probably felt the sting of a parking ticket, of the frustration of running late to an appointment because of the lack of safe and available parking. Our narrow city streets and access to Highways I-26 and 17 quickly become congested during high traffic times, and while many residents take advantage of biking or walking to work, the overcrowding of vehicle traffic remains an issue. With a projected population growth of 25,000 downtown residents over the next 15 years (as of 2014, we’re sitting at about 35,000), the issues of traffic, congestion, and lack of public parking weigh heavily on Charlestonian’s minds. In 15 years, public transportation in Charleston will be improve dramatically. We’ll see an increase in services like the CARTA busses and more taxis will deliver folks to their destinations. We may even see a ferry system for James Island and Mt. Pleasant commuters. An increase in safe bike lanes over connector bridges like the James Island Expressway and the Ashley River Bridge will help to relieve some stress on the garages as well.
Real Estate: The charm of Charleston infects just about everyone who comes to visit or study here. The improving housing market, along with our bourgeoning economy makes Charleston an ideal location for property investment. The eclectic population of college students, young professionals, active families, and retirees are searching for everything from luxury real estate, to fixer-upper projects. The chain reaction of this demand means major positives for the city. Everything from the hospitality industries to local school systems will feel the benefits from an engaged, property-owning population. Construction of the state of the art Harbor View Elementary school is a great sign for young families who plan to set their roots here, and city revitalization efforts point to promising property values in years to come. By 2030, we expect to see an increase in high rise condominium construction, much like the recent development on Coleman Boulevard. We also predict that neglected communities beyond the cross town, north of Morrison Drive (affectionately referred to as “NoMo”), and the Eastside neighborhoods of Charleston will see a surge of hip and profitable businesses, leading to an increase in housing demand, renovations, and new construction of homes and housing facilities. We expect to see some very exciting business stake claim on the long vacant Cigar Factory, and 15 years from now, the scene on that side of town will be vibrant, productive, and profitable.
Industry: Hospitality, tourism, and food and beverage have long been the major industries in Charleston. The last 6 or so years have brought countless new bars and restaurants to town, and accolades and national recognition have been raining down on these eateries and chefs. Not only do we anticipate continued growth of these industries (particularly boutique and high-end hotels), but we expect to see some serious growth in tech, job-producing industries as well. Boeing’s recent addition of an aerospace manufacturing facility in North Charleston has brought an entire new industry to town, as well as thousands of jobs. Tech and creative industries have taken a strong foothold in town, as well, and we expect to see much more moving and shaking from these companies in the next 15 years. By 2030, Charleston will be solidified as the “Silicon Harbor” with a dynamite foodie scene and a competitive real estate market.
While classic institutions and historic preservation are the cornerstone of Charleston’s charm, we think there is room for big change in our little city. At Luxury Simplified Group, we are thrilled by the challenge of keeping up with this fast-moving city. We’re ready and eager to be a part of the next chapter in Charleston’s history! The next 15 years will pass in the blink of an eye, so don’t miss your opportunity to make an investment in Charleston property. Contact us today to learn more about how you can enjoy this fabulous city for years to come.