Developer: Retailers, restaurants interested in Forest Drive project

At least 20 retailers and restaurants already have expressed interest in leasing space in a $58 million mixed-use development approved Wednesday for the former Cardinal Newman School site on Forest Drive, the developer said.

A “good cross-section of retailers and restaurants” has asked about moving into the development’s 42,000 square feet of available retail space, according to Ned Miller, The Beach Co. development manager overseeing the project.

The Beach Co. of Charleston has promised local boutiques and restaurants that appeal to residents of Forest Acres and those of the development’s 256 luxury apartments and townhomes.

“I know the project will be looking for top-drawer establishments,” Mayor Frank Brunson said shortly after Forest Acres City Council unanimously approved the project.

Dan Doyle, vice president of development at The Beach Co., said the development will address the demand in Forest Acres for more housing and retail options.

“But it’s not going to be large scale. It’s not going to be big-box,” Doyle said. “Our focus, what we’re going to attempt to do is bring in more of a local component that can really reflect what Forest Acres is and have that neighborhood feel to it.”

The Beach Co. did not say Wednesday which retailers had asked about moving into the development, which it hopes to complete in early 2019. Miller said The Beach Co. also has received calls asking when the apartments and townhomes would become available.

Forest Acres’ final approval for the project came a day after Richland County County gave second reading approval to the city’s request to pay for Forest Drive traffic improvements with property tax revenue from the new development.

“We’ve got a wonderful project coming to the city, and hopefully we’ve now got the endorsement of the county to allow this multi-county business park to help pay for these sorely needed traffic improvements,” Brunson said.

Miller said Richland County Council’s approval Tuesday night was “a tremendous relief.”

Forest Acres officials had heard residents’ concerns that adding hundreds more residents to Forest Drive would exacerbate traffic problems on the busy commercial corridor.

So city officials put off approving the project until they knew Richland County Council likely would allow the development to pay for traffic improvements: to wit, a $3.2 million computerized traffic signal system designed to improve the flow of cars on Forest Drive.

“It paves the way for our project,” Miller said. “It paves the way for better things to come on Forest Drive. I think this is what a lot of people are hoping for, to see some real change in the traffic there. It’s only going to make our project better.”

Brunson said he looks forward to learning which retailers will fill the development.

“I think the excitement about the project will continue to abound,” Brunson said.

This story was originally published May 18, 2016 at 7:05 PM.