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Charleston Is not Gone with the Wind - It's Booming

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"Gone With the Wind," the epitome of film classics, is back in theaters again. Although the story was set mostly in Atlanta, Ga., it was filmed in part in Charleston, S.C. (the birthplace of the scandalous rake, Rhett Butler,) as were parts of the television sequel, providing the perfect backdrop for the story of wealthy families in the opulent old South.

Today's Charleston, minus a few ruffles and frills, remains much the same. It's a trip back in time to the Civil War era -- and a chance to roam a city that takes life at a slightly slower pace. Take a walk down the cobblestone streets of this historic city today, and you'll still find relics of Charleston's former slave population, who hailed from the island of Barbados. Ironwork balconies, stucco homes, and palm trees coexist with brick-row homes. It's a mix of Caribbean and ante-bellum influences. And you'll occasionally spot a horse-drawn carriage, operated mostly for the benefit of tourists.

Despite the city's sad history of slavery, Charleston initially developed a reputation for tolerance upon its founding in 1670, when it began welcoming French Huguenots and persecuted Jews from Europe, populations that thrived here. The city truly came into its own, however, when farmers began cultivating rice and indigo. A vital and prosperous regional economy was born, and Charleston soon found itself one of the South's wealthiest societies. Plantations and ornate townhomes sprang up everywhere, and the city developed its identity as the old South's bastion of culture.

Charleston's history has persevered through two wars and a series of devastating hurricanes -- including Hurricane Hugo in 1989. Its 200-year-old houses, some of them still occupied members of the families who built them, still stand proudly. Because of its rich history, Charleston has something to offer everybody in terms of available real estate: ante-bellum mansions, resort and beachside homes and condominiums, townhomes, suburban homes, planned communities, apartments, and yes, even plantations for the financially well-endowed. Of course, as nationwide curiosity in Charleston has increased throughout the years, asking prices have increased. Home buyers today have a keen interest in well-preserved homes, and they're willing to pay dearly for them. While Charleston certainly accommodates that crowd, the city has plenty of new developments, as well, and they're often more affordable.

If it's old and historic you're looking for, the "Below Broad" (meaning below Broad Street) neighborhood is a good place to start. These historic homes represent some of the city's most exclusive real estate -- the ultimate in old South living. In April 1997, a well-known mansion Below Broad known as the Pineapple Gate House, located at 14 Legare Street, sold for $3.1 million. An out-of-town buyer paid the record price (so far) for residential property on the Charleston Peninsula, according to "The Insider's Guide to Greater Charleston Real Estate" by Realtor Taylor Meeks of Dune Properties,

Despite that high price tag, however, it's possible to find Below Broad properties between $400,000 and $500,000, Meeks says. And Below Broad is by no means Charleston's only historic and well-preserved neighborhood. Various local institutions have sought to preserve historic real estate throughout Charleston, and lower prices on such properties do indeed exist. It takes a little hunting and the guidance of a Realtor to find them.

The neighborhoods located north of Broad Street include the French Quarter, named after Charleston's French Huguenot population. Here you'll find a mix of residential properties as well as B&Bs, bars, small shops, and restaurants. The neighborhood is comprised only of a few square blocks. Perhaps that's why asking prices here are high; for example, according to Meeks, a late-18th-century to mid-19th-century, two-bedroom, two-bath townhouse in the French Quarter will run you between $400,000 to $450,000.

Another one of Charleston's neighborhoods, Ansonborough, is back in the land of the living following extensive restoration efforts by the Historic Charleston Foundation. Ansonborough was in shambles in the early 1970s, but the Foundation's efforts sparked the local economy and initiated the restoration of its architecturally significant structures. Today, this neighborhood is a highly sought-after area that commands high prices.

If you're looking for a new home in Charleston, head to Daniel Island, a region located east of the Cooper River and annexed as part of the city of Charleston. The island is only a short hop from Charleston. Its waterfront, located on the Cooper and Wanda rivers, is undergoing extensive development, including a series of public parks, residential neighborhoods, town center with an adjoining waterfront park, and a corporate complex boasting 2 million square feet of office space. Between 4,000 and 7,000 homesites are planned for Daniel Island.

Dunes West, a planned golf-course community, is another hot new development. Comprised of more than 2,000 acres, this upscale development has been under construction for more than 10 years but isn't expected to be completed until after the year 2011. The area's golf-course and waterway views are among its prime selling points.

Charleston is the perfect mix of old and new. The city reflects the current real estate boom spreading throughout the South; yet, because the city is still home to many of Charleston's original families, a strong regional pride permeates its streets and has led to its many preservation initiatives. A city that fosters the coexistence of old and new is indeed a rare find. That reputation will continue to attract visitors and home buyers alike to Charleston.

Published: July 27, 1998

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Mortgage Rates
30 Year Fixed: 3.83%
15 Year Fixed: 3.05%
1 Year Adj: 2.73%
(U.S. Weekly Averages)

Today's Headlines 07/27/1998


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