Watermark is a new mixed-use traditional neighborhood located off of Rifle Range Road and Bowman Road. Located behind the Shellpoint neighborhood and the Wando Crossing Shopping Center, Watermark will feature a diverse range of housing options including approximately 100-119 single family homes, 38-39 town homes and approximately 300 apartments. There will also be some commercial space which will be a enjoyed by residents as they will have the opportunity to walk to retail shops. Homes and lots are available for sale. The neighborhood got off to a slow start because they came out of the ground in 2008 when the economy backfired.
We’re coming through SHELLPOINT. SHELLPOINT ties into WATERMARK and WATERMARK is a mixed use community the Beach Company is developing. This is an area that we almost purchased in, as well. I like this again, all based on location. You’re not going to find a lot of new construction neighborhoods that are this close in with the amenities that this area has. There is some commercial and we will ride back here in a second. But you have, you’re literally a bike ride to the Town Centre, and a lot more commercial being developed around here. Very easy to get on I-526. I would say you’re maybe a half a mile from that, so if you’re working in other parts of Charleston, this is a neighborhood that….I mean sometimes I’ve helped Boeing relocation people buy here and you know there is actually a fair number of people that have retired or bought second homes. Similar to I’ON. At least it’s neoclassical and its far less expensive. Houses range back here from the $400K’s to probably, houses on the lake, $700K – $750K. Some of these also have detached garages . You basically have two structures where you could have a guest house or an office and then you have the main house. You probably can see, as we’re riding through here. They’re still building. I believe, when Italked to the developer the last time, there are probably about 6 to 9 months from being done in here. So they’re rolling through here pretty quick. This development WATERMARK kind of set dormant for a while when the economy fell apart but now that, you know, over the last several years, it’s been built back up and has sold at a pretty good rate. I think there’s maybe 10 or 11 houses that are under contract, and maybe 3 or 4 that are actually for sale. It’s been very well received as its been being built out. And from here, we’re going to go into a older neighborhood across the street, CASSINA HEIGHTS..
