Real Estate

Oyster Point Nears Construction

Massive development could get underway this month.

The 600-acre housing development planned for a piece of waterfront property off Rifle Range Road could begin construction this month, according to D.R. Horton Homes.

Oyster Point stirred some controversy when developers asked for annexation into the Town of Mount Pleasant. Its size and location caused widespread concern from neighbors who feared its negative traffic impacts.

The project was approved in September 2012, and now developers say they will begin construction in late May or early June.

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"Phase 1 plans currently consist of an amenity building, pools, tennis courts, play grounds, lakes and many walking trails," said Jessica Hansen, a D.R. Horton Homes spokeswoman.

Oyster Point is being developed on a waterfront parcel that includes remnants of a Civil War fort designed by Confederate Gen. Robert E. Lee. The earthen fort will be open to the public when Phase 1 of the project is complete, Hansen said.

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The town has approved nearly 600 homes for Oyster Point's roughly 200 acres of dry, developable land. D.R. Horton plans to have its first homes completed in the late winter or early spring of 2014.

"In the first phase, we plan to have five different types of homes: a community of ranch homes, a paired ranch community that the yards will be taken care of for the homeowners, single-family homes by DR Horton, townhomes that are the old Charleston style with alleys that front the park and luxury homes by Emerald Homes," Hansen said.

Pricing is subject to change, Hansen said, but current plans are to offer townhomes starting around $300,000 and single family residences starting in the high $300,000 range up to more than $1,000,000. The luxury Emerald product homes are planned to start at $500,000 up to more than $1,000,000.

D.R. Horton says potential homebuyers can look at some of their other Charleston-area properties to get a feel for what will be constructed at Oyster Point. The development established a website recently that includes property information.

"Potential homebuyers can tour our Emerald products by visiting our homes currently under construction in Mount Pleasant and James Island," Hansen said. "To tour our D.R. Horton homes, potential buyers can visit Sweetgrass down the street. ...We plan to open for reservations this summer and sales contracts in early fall."

Oyster Point has been granted a special Conservation Landscape District zoning that allows it to build homes closer together so long as it preserves 25 percent of the lands for greenspace or preservation of historic interests. That means homes will be nestled beneath hundreds of historic oaks with pockets of greenspace throughout the development.

Though it stoked controversy at first, D.R. Horton has received tremendous interest as the region's real estate market continues to build steam as the U.S. emerges from an economic recession.

"The response from potential homebuyers and real estate agents has been overwhelming," Hansen said. "Everyone is excited about this project. It should be a unique new home community in South Carolina for the next few years."

JUST THE FACTS

  • 600-acre development
  • 593 homes have been approved
  • Projected prices: $300,000 to more than $1 million
  • Construction start date: Late May or June 2013
  • First homes complete: Late winter or early spring of 2014


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