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Charleston in the News - April 2023 Edition

Posted By: Alan Donald In: Charleston
Date: Fri, Mar 31st 2023 1:44 pm

APRIL 2023 NEWS

Metals Recycling Company Coming to Berkeley County 

ZEB Metals, a company that “buys and trades non-ferrous scrap and also recycles metals and other material”, is relocating from Kentucky to a new facility near Highway 52 in Moncks Corner. This new facility will process secondary aluminum scrap that would otherwise be put in landfills. According to the South Carolina Department of Commerce, the company’s new operations will create 28 new jobs and is anticipated to be up and running by late 2023. “This is the first secondary re-melt facility of its kind in the Southeast region of the United States.” Read more here. 

Historic Charleston School to Become Low-Income Housing for Seniors

The former Henry P. Archer Elementary School building in Charleston’s eastside is undergoing a $42 million renovation into housing units. Since 1980, the school, which opened in 1936, has been sitting vacant. According to a news release, this project is being led by the joint venture of James Doran Co. and the Humanities Foundation. The intent of the project is to save as much of the original structure, preserving “the great historical significance to the city”. “A total of 28 affordable housing units will be made available in the original building, and an additional 61 units will be created in a newly constructed building on the property”. This project is anticipated to be completed in spring of 2024. Read more here. 

Home Prices Fall in the West, While The East Continues to Boom

Currently, “the United States is a country of two housing markets.” In the West, home prices are falling, in the East, they’re still holding strong. It seems as though the division runs right down the middle of the country, which is highly unusual according to housing analysts. After the two year pandemic-driven boom and low interest rates boosted prices everywhere, the country’s markets are now starting to respond more to local factors such as supply, affordability, and job growth. For instance the tech industry cities in the West have the “fastest falling home prices”, while in the East, certain markets are still attracting companies and adding jobs, which is feeding into buyer demand. Read more here.