Lower Berkeley Condo Will Offer Leases

In another sign of the deteriorating housing market in the Charleston area, there is this report that a local condo is going to offer "more choices" for customers this year, including leasing options because "[t]hese are the things we see the market demanding." The article provides the following details on the offers:

“It’s three miles from I-526, 10-15 minutes from anywhere,” she says.

Allison McQueen, project manager with The Berry Co., oversees the property. Leases are for six months and up and come with a $50 application fee, $300 refundable deposit and $100-$150 nonrefundable fee. Pets are allowed with a $400 nonrefundable fee.

Currently, half of the residents are renters and half buyers, Layton says. But of the leasing group, 85 percent are interested in rent-to-own. “We have a lot of options for people when they walk through the door,” Layton says.

To get to Palmetto Place condominiums from downtown Charleston, cross the Ravenel Bridge to Mount Pleasant in the left two lanes onto U.S. Highway 17. Continue to the North Charleston exit onto Interstate 526. Follow I-526 to the Clements Ferry Road exit. Take Clements Ferry for about four miles. Turn left at the traffic light at Jack Primus Road. Palmetto Place is on the right. An alternate route is to stay on Highway 17 before turning left onto S.C. Highway 41. Take Highway 41 across the Wando River, taking the left fork onto Clements Ferry. Turn right after four miles onto Jack Primus. The complex is on the right.

This is a bad sign for condos in the Charleston area.