Capital Square, a US-based developer of multifamily communities, and Method Co., a real estate management and development company, have broken ground on Roost Apartment Hotel in Charleston of South Carolina, US.
This 50-apartment unit hotel project is located at 529 King Street in Charleston’s downtown.
Go deeper with GlobalData
The project, which has been designed by Morris Adjmi Architects, will feature 52,700ft2 of space consisting of a combination of studio, one-, two- and three-bedroom apartment hotel units, a rooftop lounge, and 27,700ft2 of rentable space.
Method Co. will operate the hotel’s rooftop lounge.
The $61m project is scheduled for completion in early 2024.
Developed based on an extended-stay concept, the hotel is expected to blend comfort and practicality of an apartment with the amenities and design of a boutique hotel.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCapital Square chief strategy and investment officer Whitson Huffman said: “Capital Square is an active developer of luxury properties in growing markets within the Southeast and we couldn’t be more pleased to begin construction on our inaugural project in Charleston.
“Charleston is a premier market, home to a growing community of high-income families and one of the nation’s most popular tourist destinations. 529 King Street will contribute to this legacy and become a premier destination for local residents and tourists alike.”
Method Co president and co-founder David Grasso said: “We are thrilled to break ground on our first ROOST Apartment Hotel in South Carolina and our second project in the city of Charleston.
“ROOST will offer guests in Charleston a comfortable stay in a beautifully designed apartment that feels like a home and the flexibility to stay a few nights or a few months. The building’s design by Morris Adjmi Architects is outstanding; it will be a fitting complement to the classic architectural charm of Charleston.”
———————————————————————————————————————
Image: The hotel is being developed based on an extended-stay concept. Credit: Pexels from Pixabay.
