East West Partners and the Town of Mount Pleasant have officially broken ground on the Tides IV luxury condominium complex in Charleston, S.C.
"Today is a milestone for the Charleston real estate market," Miller Harper, EWP's managing partner in South Carolina, said. "To put shovels in the ground on a project like this for the first time since 2007 speaks volumes about where the region is at and where East West Partners sees itself in it."
Tides IV is the first luxury condominium project to be constructed in the Charleston area since the 2000s.
The condominium will include 54 residences and is expected to be complete by summer of 2016.
The building will feature open floor plans and large windows, complete with views of the Lowcountry, as well as a lobby, fitness center and marsh-front swimming pool.
Residents will have immediate access to the Ravenel Bridge, along with the nearby beaches of Sullivan's Island and Isle of Palms.
Thirteen of the residences, released December 2014 in a pre-sale, have been sold at an average price of $930,000.