US: Capital Square and Method Co. have broken the ground on a 50 key ROOST Aparthotel in Charleston, South Carolina.
Capital Square, a sponsor of tax-advantaged real estate investments and Method Co. the real estate management, development and design company responsible for the aparthotel brand ROOST, teamed up with Morris Adjmi Architects for the US$61 million project.
The property will feature a range of accommodation from studio, to one-, two- and three-bed apartments. There will also be a rooftop lounge for both residents and locals to enjoy food and drinks. The lounge will be operated by Method Co.
The aparthotel is slated for completion in early 2024.
Whitson Huffman, chief strategy and investment officer Capital Square 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.”
David Grasso, president and co-founder of Method Co. 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.”
Located in the sought-after Upper King section of downtown Charleston, the area offers luxury shops, restaurants and nightlife. Upper King Street neighbourhood also supports a burgeoning tech and start-up scene.
This development is not the first ROOST for Charleston. Method Co. made its debut with ROOST in Charleston in May this year.
