Lowcountry Rapid Transit projected to increase commercial development - approximately 13 msf of new retail, office and hospitality spaces expected

Projected development in retail, office, and hospitality in Charleston by 2040 compared to development over the past 10 years
  • The Lowcountry Rapid Transit (LCRT), South Carolina’s first mass transit system, is a 21.3-mile project that will connect the Charleston region’s employment centers. Improving transportation infrastructure will foster economic growth and upward mobility through the area.
  • The project is expected to result in around 13 million square feet of new commercial development for retail, office, and hospitality sectors in the corridor. As a result, employment in the region is forecasted to grow by 51.7% over the next 20 years.
  • The office sector is expected to see the greatest amount of development, nearly tripling the amount of space by 2040.

December 20, 2023

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