One of the largest undeveloped communities in Charleston is moving ahead toward becoming a major development. Today ground was broken on the first part of the 9,000 acre Cainhoy Plantation. 
Right now the only thing built at the Cainhoy Plantation property on Clements Ferry Road is the Phillip Simmons School. That’s changing soon.
Steve McClure is COO of The Spectrum Companies. “This 9000 acres… needs both a mix of houses, commercial, retail and a grocery anchored retail center… but also multi-family housing.”
The Spectrum Companies broke ground today on the first private part of the new “Point Hope” community, an apartment complex called The Village at Point Hope.
McClure says, “If you want to look at something for comparison, just look down the street. Daniel Island has the same developers in that they’re gonna take what they learned from there and improve on it here.”
The Daniel Island Company is developing the Cainhoy Plantation property, which goes to the Wando river and includes 22 miles of saltwater and marsh shoreline.
Spectrum is developing The Village on 16 acres near the front of Point Hope.
Spectrum already completed 2 apartment complexes on Daniel Island, but Point Hope is not on Daniel Island. “It allowed us to come and build a little bit less expensive product, because one thing with the other projects is the rent is much higher. This allowed us to build it so we can have a lower price rent to be more affordable to a larger group of people.”
McClure says while they have not decided on what rent will be, they believe you would be able to rent one of the 274 apartments for around $1350 per month.
McClure says demand will only increase. “We really see people moving here with Boeing expanding, with the Volvo plant, there’s a lot of just synergy.”
The first residents are expected to be moving into The Village in about 12 months. The entire apartment complex will take about 18 months to build. 

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