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A proposed 1,285-home development that would become the largest subdivision
on Johns Island received final approval Tuesday from Charleston County
Council.
Kiawah River Plantation, across the river from the gated island community of
Kiawah, also would have 450 guest rooms, 80,000 square feet of commercial
space and up to 36 holes of golf.
The site is a 1,428-acre tract on the Kiawah River marsh with access from
Betsy Kerrison Parkway and Mullet Hall Road.
The development is expected to take shape over the next 20 years, and the
county is expected to consider early next year a request for tax incentives
aimed at getting the project started.
A financial analysis of the project prepared for The Beach Co. estimated
that Kiawah River Plantation would generate 850 to 900 jobs in the county
and create $1.3 billion in taxable property value. Homes would, on average,
sell for $1 million.
Approved Tuesday night were zoning changes to the properties involved, and a
development agreement between The Beach Co. and Charleston County that
spells out planning and zoning requirements and sets some conditions for the
plan.
For example, the development agreement says that 20 units of "work-force
housing" will be created for every 200 units of market rate housing, up to a
maximum of 117 units. Work-force housing is typically rented or sold at less
than market rates to occupants with limited incomes.
The agreement also says the developer will provide up to $800,000 toward the
purchase of a new ladder truck for the St. Johns Fire District because they
could need one if multi-story hotels are built at Kiawah River Plantation.
Also, 3 acres of high land will be provided as a site for needed government
services, such as a magistrate's court and a fire station.
In the 20 years after development begins, according to the developer's
financial analysis, which the county has reviewed, the county's general fund
would gain $30.1 million.
County services related to the development would cost an estimated $20.3
million during that time.
Next year, The Beach Co. is expected to request the creation of a
tax-increment financing district for the development, which would allow some
portion of the anticipated property tax revenues to be used to pay for
public infrastructure, such as public roads.
In other business Tuesday, council approved the details of a federal
stimulus grant that will help pay for solar panels on the expanded county
Detention Center.
Council did not continue a discussion from last week dealing with pending
state legislation that could change the way properties are reassessed when
sold, but expects to consider taking a position on the issue in January.
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