Jamestown, Private Developers Partner to Redevelop North Charleston Navy Yard
NORTH CHARLESTON, S.C. — Jamestown, an Atlanta-based developer and owner of adaptive mixed-use developments around the world, has partnered with Southeast real estate developers William Cogswell and Jay Weaver to redevelop the 45-acre North Charleston Navy Yard.
Decommissioned in 1996 but still home to dozens of companies, the waterfront campus will be reimagined into a 1.2 million-square-foot mixed-use neighborhood called Navy Yard Charleston. The project will add new office space, residences, shopping and dining to the nearby Park Circle neighborhood, as well as new green spaces, a concert hall and an outdoor events venue.
The development team expects to break ground and begin renovations this year. No other construction timelines or associated costs were disclosed.
While Navy Yard Charleston will go through extensive renovations, the team has made a commitment to preserve the area’s architectural detail and history, and bring new amenities to the community. The team also plans to establish a neighborhood employment program, which will reserve project-specific positions for local residents who live within the neighborhood and include a training program to help job seekers enhance their skills.
Beginning its operation as a working dry dock in 1901, the Navy Yard maintained a naval presence on the North Charleston waterfront for nearly a century. Today, the site includes the former Naval Hospital, which is North Charleston’s tallest building at 10 stories, as well as a neoclassical power plant and a series of storehouses.
More than 20 companies are active on the grounds of North Charleston Navy Yard and employ thousands of people, including custom lighting designers, blacksmiths, underwater welders, brewers and bakers.
The redevelopment joins a number of historic naval yards across the nation that have recently been reimagined and repurposed for modern use, including the Brooklyn Navy Yard and Navy Yard Philadelphia.
Jamestown is a real estate and investment company based in Atlanta. Some of its past and current projects include Ponce City Market and Buckhead Village District in Atlanta, Ghirardelli Square in San Francisco, Industry City in Brooklyn and Chelsea Market in Manhattan’s Chelsea neighborhood.
William Cogswell is the principal of Wecco Development LLC, a Charleston-based real estate development firm whose past projects include the Cigar Factory, GaRCo Mill and One Cool Blow in Charleston, as well as Frogtown Lofts and Starland Lofts in Savannah, Ga.
Jay Weaver is founder of Weaver Capital Partners, an Atlanta-based value-add developer whose past projects include the Jamestown-owned Westside Provisions District in Atlanta and Edgehill Village in Nashville. The company also partnered with Wecco on Cigar Factory and GaRCo Mill.
— Julia Sanders and John Nelson