CHARLESTON, SC—Construction is set to begin on a luxury multifamily community in Mount Pleasant. Middle Street Partners struck a deal with Memphis-based MAA in which MAA will purchase the land from Middle Street and provide construction financing. Middle Street will develop the multifamily project.

“Mount Pleasant delivered less than 300 new apartment units over the past 10 years and actually lost close to 1,000 units to condo conversion over that same timeframe,” Ryan Knapp, co-founder of Middle Street, tells GlobeSt.com. “Meanwhile, the population of Mount Pleasant has grown 45 percent.”

Plans call for a total of 270 upscale apartments and a two-story, 8,000-square-foot
amenity center that will be home to a fitness center, resident lounge, business center and resort-style pool. The property will also feature outdoor community areas and detached garages. Each building will offer private outdoor courtyard areas.