VA loans were established prior to the end of World War II and have since assisted numerous veterans, service members, and military families in fulfilling their dream of owning their a home. In recent times, the program has become increasingly significant, with VA loan volume skyrocketing and offering substantial financial advantages that enable countless veterans to purchase homes, thereby making homeownership a possibility for those who may not have qualified otherwise.
If you sacrificed comfort and security to help protect our great nation, Mission One Mortgage thanks you for your service. We believe that there's no greater honor than to serve those who have served our country. We're not afraid to go above and beyond for our veterans because that's exactly what they did for us.
A VA loan is a mortgage option that is backed by the government and available to Veterans, service members, and surviving spouses. It is offered by private lenders such as banks and mortgage companies and not directly by the Department of Veterans Affairs.
VA home loans come with competitive interest rates and terms and can be used to purchase a variety of properties, including:
One of the great benefits of VA loans is that eligible Veterans can buy a home with no down payment, no mortgage insurance, lenient credit requirements, and the lowest average fixed rates in the market.
At Mission One Mortgage, we work with many Veterans who know that VA loans exist but don't quite understand the full range of benefits they provide. If that sounds familiar, keep reading. This section was written especially for you.
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One of the standout benefits of the VA Loan program is that qualified borrowers can purchase a home without having to make a down payment up to the conforming loan limit of their county. This is a significant advantage over conventional and FHA loans, which typically require minimum down payments of 5 percent and 3.5 percent, respectively.
For example, on a $400,000 mortgage, a conventional loan would require a $20,000 down payment, while an FHA loan would require $14,000. Saving up that kind of cash can take service members and veterans years, but with the VA Loan, they can pursue homeownership without having to scrape and stockpile for years on end.
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It's important for military buyers to stay informed about credit score requirements when considering home financing options. Although credit score requirements have eased up a bit, it's still necessary to meet certain benchmarks set by conventional and FHA lenders. However, even meeting these benchmarks can be a challenge for many buyers.
Most VA lenders require a credit score of at least 620, which falls in FICO's "Fair" credit score range. Borrowers will typically need to meet a higher threshold for conventional mortgages, particularly if they want to secure a low-interest rate. It's worth checking out VA Loan rates to learn more about financing options.
Despite common misconceptions, military buyers don't need a perfect credit score to obtain financing. While a higher credit score can certainly help, it's important to remember that VA loans in West Ashley, SC are designed to help military members and veterans access affordable housing.
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Closing costs are an inevitable part of the home-buying process, no matter what type of mortgage product you choose. However, if you're a veteran, you may be pleased to know that the VA places limits on the fees and costs you're required to pay at the time of closing. Additionally, homebuyers have the option to ask sellers to cover all loan-related closing costs, as well as up to 4 percent of the purchase price for other expenses like prepaid taxes, insurance, and collections.
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Coming up with a down payment can be challenging for both conventional and FHA homebuyers. In addition, they are required to pay for mortgage insurance unless they can make a sizable down payment, usually 20% of the purchase price. For instance, on a $400,000 mortgage, this would be a staggering $80,000 in cash.
FHA loans carry an upfront mortgage insurance premium and annual mortgage insurance. The latter now lasts for the life of the loan. On the other hand, conventional homebuyers will pay this monthly cost until they have built up enough equity, which can take several years.
Fortunately, VA loans do not require any mortgage insurance. However, there is a mandatory funding fee that goes directly to the Department of Veterans Affairs. Borrowers with a service-connected disability are exempt from paying this fee, which helps keep the program going for future generations.
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If you've experienced a financial setback such as a foreclosure, short sale, or bankruptcy, you may be worried about your chances of securing a VA home loan. However, don't lose hope just yet. With VA loans, it's still possible to be eligible for a home loan just two years after a foreclosure, short sale, or bankruptcy. In some cases, veterans who file for Chapter 13 bankruptcy protection can be eligible for a VA loan just a year after the filing date.
It's worth noting that the waiting periods for conventional or FHA financing can be significantly longer than those for VA loans. Additionally, even if you've lost a VA-backed mortgage to foreclosure, you may still be eligible for another VA loan.
So, if you're a veteran who's experienced a financial setback but still dreams of owning a home, don't give up hope. Explore your options and see if a VA loan with Mission One Mortgage could be the solution you need.
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It's important to keep in mind that VA lenders typically prefer borrowers to spend no more than 41 percent of their gross monthly income on major debts, such as mortgage payments or student loans. However, it's possible to get a VA home loan even if you have a higher DTI ratio. Some lenders may offer up to 55 percent or more depending on your credit score and ability to meet additional income requirements. This can give homebuyers more flexibility and greater purchasing power when it comes to finding their dream home.
Remember - if you have any questions about the benefits you just read about - like what credit score Mission One Mortgage requires for a VA loan - contact our office today. It would be our pleasure to help you navigate the VA loan process, one step at a time.
One of the most common questions we get at Mission One Mortgage revolves around VA loan eligibility. Who is actually eligible for this type of loan? What are the requirements for getting a VA loan? If you meet the following requirements, chances are you'll be eligible for a VA loan.
Curious what the general steps are for purchasing a home with a VA loan? You're not alone. Keep reading to get a feel for what you have to do to enjoy the wonderful benefits of homeownership.
When applying for a VA home loan benefit, the Certificate of Eligibility (COE) is an important document that verifies your eligibility to your lender. If you have already used your VA loan benefit in the past, a current COE can help you determine how much remaining entitlement you have. Additionally, it can ensure that your entitlement has been restored for previous VA-backed loans that were paid in full.
After you've applied for your COE, it's a good idea to examine your finances. We're talking about items such as income, expenses, credit profile, and your monthly budget. That way, you know for sure that you're ready to purchase a home.
As a veteran, you have the choice of going through a bank, credit union, or a private VA mortgage company like Mission One Mortgage. Most lenders will have different loan interest rates and fees, so it's important to shop around. Remember - Mission One specializes in VA loans in West Ashley, SC. Other lenders, such as large corporations and banks, often can't match the expertise and attention to detail that Mission One provides to veterans.
During this phase, it's a good idea to meet with a range of real estate professionals. Try to choose an agent who has experience processing and overseeing VA loans. Once you select an agent, you can bring your lender's pre-approval letter to their office and begin shopping.
This is the best part of the VA loan process, other than getting the keys to your new home. When looking for a house, remember to look at homes within your price range and budget. Lean on your real estate agent, friends, and family for help in your search.
If you're thinking about buying a home, it's important to weigh the pros and cons of homeownership. While renting can provide flexibility and less responsibility for maintenance, it comes with the risk of rent increases, potential property sales, and uncertainty about security deposit refunds.
On the other hand, owning a home can offer relatively stable mortgage payments and an opportunity to build long-term wealth for you and your family. Before making a decision, it's crucial to determine your priorities, such as your monthly budget for mortgage payments and other expenses like transportation and childcare. Ultimately, only you can determine what's best for your housing and financial needs.
At Mission One Mortgage, we take immense pride in simplifying the mortgage process and ensuring that our clients experience minimal stress. We understand that navigating the world of mortgages can be daunting, which is why we are committed to making it as smooth as possible.
By choosing to work with us, you're not just getting a mortgage broker - you're selecting a partner who is devoted to your financial well-being and dedicated to helping you achieve your dream of homeownership. By working together, we can work through the VA loan process one step at a time.
That rings true for all of our clients, but especially the U.S. Veterans we serve. In fact, we specialize in VA mortgages and are proud to offer them to US Veterans, those on Active Duty, and their spouses. VA Loans are one of the best mortgages available, offering no down payment requirements, no PMI, and some of the most favorable rates and terms.
If you're ready to take the next big step in your life and provide stability for your family with a place to call home, contact our office today. You're closer to the dream of home ownership than you might think.
CHARLESTON, S.C. (WCSC) — The next phase of the long-awaited redevelopment of the Ashley Landing shopping center is set to go before the City of Charleston’s Technical Review Committee again Thursday morning, marking another step forward in what city leaders say is the largest investment in West Ashley since the Citadel Mall.While the site along Sam Rittenberg Boulevard near Sumar Street currently appears unassuming, looking like just a stretch of demolished buildings and open pavement, city officials said the groundwork f...
CHARLESTON, S.C. (WCSC) — The next phase of the long-awaited redevelopment of the Ashley Landing shopping center is set to go before the City of Charleston’s Technical Review Committee again Thursday morning, marking another step forward in what city leaders say is the largest investment in West Ashley since the Citadel Mall.
While the site along Sam Rittenberg Boulevard near Sumar Street currently appears unassuming, looking like just a stretch of demolished buildings and open pavement, city officials said the groundwork for redevelopment has been years in the making. Planning for the project began in 2017; construction officially broke ground in May 2025.
Much of the progress so far has happened out of sight, according to city leaders. Phase Two of the project focuses primarily on off-site drainage improvements, stormwater management and early infrastructure work needed to support future construction.
Although the site may look inactive from the outside, major steps are already underway behind the scenes.
“So, with Ashley Landing, it may look like nothing’s happening, but arguably things are happening almost at lightning speed with the redevelopment of this site,” Robert Summerfield, Charleston’s director of planning and preservation, said. “The Publix relocation has already been through TRC, so that is huge in and of itself.”
He said upcoming agenda items before the Technical Review Committee are designed to support the broader vision for the site.
“At TRC this week, we have a number of projects that will help facilitate that bigger redevelopment that we’re all anticipating once the Publix relocation happens,” Summerfield said.
City officials said the overall redevelopment plan spans 35.5 acres and includes a city park, nine acres of stormwater retention, outdoor dining, retail space and affordable housing.
However, Summerfield said the timing of those elements depends heavily on the project’s anchor tenant: a new Publix grocery store
It will be about 2,000 square feet larger than the existing store, bringing it to just over 50,000 square feet.
Summerfield said the phased approach hinges on the grocery store’s completion.
“It will come in phases, but within those phases, Publix being that linchpin, that key domino that’s got to fall so all the other pieces can kind of come together,” he said.
Beyond retail, Summerfield said the redevelopment is designed to create a more walkable, service-connected community.
“As we build the residential component, we’re providing much-needed housing in a place where services already exist and connecting it directly to a grocery store,” Summerfield said. “The idea is that people can live here and walk to get groceries or other services without needing to get in a car, whether that’s to grab dinner or pick up milk for the kids’ cereal.”
He added that the impact of the project is expected to extend well beyond just the specific Ashley Landing site.
“It’s already a catalyst for other development that’s going to occur not just in this area of Old Town and Sam Rittenberg, but along the Sam Rittenberg corridor,” Summerfield said. “I think it’ll be a very cumulative effort, and we will see progress much sooner than people are used to and realize right now with all of the prep work that’s being done.”
Summerfield said the long-term effect could reshape everyone’s quality of life across West Ashley.
“I personally think this is a game changer for West Ashley,” he said. “It has that ripple effect where, if we do things right in this collaborative way in this area where existing resources are already there, we can enhance those resources and put less pressure on outer areas.”
If Phase Two is approved by the Technical Review Committee Thursday, the city will move forward with securing the infrastructure and drainage needed for future construction.
Because the redevelopment is being built in multiple phases, officials say the full project will take several years to complete.
Residents can expect to see improvements rolled out gradually, with city leaders targeting full completion of the Ashley Landing redevelopment in 2028.
WEST ASHLEY, S.C. (WCIV) — Efforts by the city of North Charleston to expand its boundaries further into West Ashley were rejected by the South Carolina Supreme Court.In a case dating back to 2017, the city Charleston and the National Trust for Historic Preservation argued that North Charleston's attempt at annexing an acre of land on the opposite side of Highway 61 was illegitimate because the the action would skip over a strip of land owned by the National Trust for Historic Preservation and annexed into Charleston, creating a...
WEST ASHLEY, S.C. (WCIV) — Efforts by the city of North Charleston to expand its boundaries further into West Ashley were rejected by the South Carolina Supreme Court.
In a case dating back to 2017, the city Charleston and the National Trust for Historic Preservation argued that North Charleston's attempt at annexing an acre of land on the opposite side of Highway 61 was illegitimate because the the action would skip over a strip of land owned by the National Trust for Historic Preservation and annexed into Charleston, creating a 100-foot-wide highway buffer that breaks contiguity with North Charleston.
READ MORE | "Turf war between Charleston, North Charleston continues over property in West Ashley."
The dispute began after the legal annexation of Runnymede Plantation, which touches a portion of the Ashley River, when North Charleston was also given the one-acre parcel opposite Highway 61.
On Jan. 21, the state Supreme Court overturned the South Carolina Court of Appeals' decision, which claimed Charleston and the National Trust didn't have standing to sue. The court stated that Charleston and the National Trust have grounds to challenge North Charleston's annexation, which did not comply with state law.
"Although we looked forward to allowing the property owners to join the city of North Charleston, we respect the Supreme Court’s ruling and will abide by its decision," North Charleston spokesperson Tony Tassarotti said.
North Charleston didn't provide details on any plans to attempt more land acquisitions in the area. At the time of the litigation, both cities were led by differing mayoral administrations. Additionally, the municipalities were locked into a turf war, with Charleston annexing the 2,500-acre property at the Whitfield tract – directly adjacent the one-acre parcel in question before the state Supreme Court.
READ MORE | "North Charleston attempting to annex portion of West Ashley."
Charleston also annexed a second property called Millbrook Plantation LLC., in a bid to prevent development if North Charleston were to obtain the land.
North Charleston also attempted to annex the Whitfield tract land, but without the one-acre parcel, it would not have been "contiguous" with the city.
In the Supreme Court's January decision, the court clarified that the one-acre parcel off Highway 61 was not adjacent to North Charleston, making the initial attempt at annexation invalid.
News 4 reached out to the city of Charleston for comment and is awaiting word back.
READ MORE | "Cities of N.Charleston and Charleston continue legal battle of annexed acre in West Ashley."
Supreme Court documents on the case can be read below.
This appeal arises from an action filed by the National Trust for Historic Preservation and the City of Charleston challenging the City of North Charleston's attempted annexation of real property near Highway 61 and the Ashley River. National Trust and Charleston appeal the court of appeals' decision affirming the circuit court's ruling that National Trust and Charleston lacked standing to challenge North Charleston's annexation. We find both National Trust and Charleston have standing and reverse the court of appeals. The court of appeals found it unnecessary to reach the substantive issues regarding the legality of the annexation, which issues were fully briefed at the court of appeals. We now certify those issues for our review pursuant to Rule 204(b), SCACR, dispense with further briefing, and affirm the circuit court's alternative ruling that North Charleston did not lawfully annex the property because the property is not "adjacent" to North Charleston's existing city limits.
NORTH CHARLESTON — Nearly a decade after North Charleston annexed a one-acre parcel west of the Ashley River that initiated a lengthy legal fight, the state Supreme Court on Jan. 21 ruled the annexation invalid.The city of Charleston and the National Trust for Historic Preservation argued North Charleston’s “leap frog” annexation threatened to destroy the character and continuity of the rural Ashley River Historic District.In 2023, the S.C. Court of Appeals sided with North Charleston and did not block t...
NORTH CHARLESTON — Nearly a decade after North Charleston annexed a one-acre parcel west of the Ashley River that initiated a lengthy legal fight, the state Supreme Court on Jan. 21 ruled the annexation invalid.
The city of Charleston and the National Trust for Historic Preservation argued North Charleston’s “leap frog” annexation threatened to destroy the character and continuity of the rural Ashley River Historic District.
In 2023, the S.C. Court of Appeals sided with North Charleston and did not block the annexation.
The state Supreme Court came to a different conclusion. The court ruled Charleston and the National Trust have legal standing to challenge North Charleston that the annexation did not follow state law.
“This is a great outcome for the City of Charleston and the region,” Charleston Mayor William Cogswell said in a statement. “Having a large tract of land that is well outside the range of service annexed into a city is the opposite of a smart growth strategy, so to me this is a win-win.”
In a statement, North Charleston spokesman Tony Tassarotti said the city looked forward to allowing property owners to join the city through the annexation, but the city respects the court’s decision.
“We respect the Supreme Court’s ruling and will abide by its decision,” he said.
In 2017, North Charleston legally annexed a 113-acre tract called the Runnymede Plantation off S.C. Highway 61 owned by the Whitfield Construction Company. This annexation was valid because the property touches the Ashley River, making it contiguous to North Charleston.
State law says land contiguous to a municipality can be annexed.
The company then gave North Charleston an acre of land on the other side of the highway, which was part of a another 2,200-acre tract. The city of Charleston argued the one-acre annexation was not valid because it jumps over a strip of land that was owned by the National Trust for Historic Preservation and annexed into Charleston, making the parcel not contiguous to North Charleston due to the 100-foot-wide buffer running along the highway.
North Charleston justified the annexation with a state statute that says a city may annex land it already owns if it’s adjacent to the city limits, making the court determine if “adjacent” is different from “contiguous.”
Around the same time, both cities set their sights on claiming unincorporated Charleston County land located in the Ashley River Historic District.
Charleston annexed roughly 6,000 acres in the surrounding area, including the 2,200-acre Whitfield tract and a 30-acre property called Millbrook Plantation LLC. The city did not get permission from either property owner, but instead used the 75 percent rule, which allowed the city to take the properties without the owners’ approval if 75 percent of surrounding property owners with 75 percent of the total land value requested to join the city.
North Charleston struck back two days later with its own attempt to annex the Whitfield and Millbrook properties. North Charleston finished its annexation process before Charleston, despite starting a couple of days later.
Without the one-acre parcel, these properties would not be contiguous to North Charleston.
In 2023, the state appeals court’s ruling affirmed the 2019 decision by Circuit Judge Eugene Griffith Jr. that stated neither Charleston nor the National Trust had the legal right to challenge North Charleston’s annexation.
Chief Judge Bruce Williams called the legal battle no more than a “boundary dispute between two municipalities,” according to the 2023 decision.
Nearly three years later, the state Supreme Court reversed the Court of Appeals’ decision, stating Charleston and the National Trust have legal standing. The court also affirmed the circuit court's alternative ruling that North Charleston did not lawfully annex the property because the one-acre tract is not "adjacent" to existing city limits.
The court clarified “adjacent” is not synonymous with “contiguous,” and state annexation statutes are premised on the requirement of continuity.
CHARLESTON — A local couple has found a treasure in a rundown building that was trashed for years on a busy West Ashley thoroughfare.The tiny spot at 2177 Ashley River Road formerly housed a dry cleaner business and has since languished without a tenant as vandals covered it in graffiti and homeless camped out in the back.But Jessica and Russell Luzier, owners of the family-run Stone Castings of Charleston, saw promise in it.The couple are doing their best to revive the heavily trafficked property — though th...
CHARLESTON — A local couple has found a treasure in a rundown building that was trashed for years on a busy West Ashley thoroughfare.
The tiny spot at 2177 Ashley River Road formerly housed a dry cleaner business and has since languished without a tenant as vandals covered it in graffiti and homeless camped out in the back.
But Jessica and Russell Luzier, owners of the family-run Stone Castings of Charleston, saw promise in it.
The couple are doing their best to revive the heavily trafficked property — though the project is taking much longer than expected. Jessica Luzier said they were hoping to open their storefront and manufacturing warehouse for custom-made stone products, such as fireplaces, countertops and fountains, this time last year. But extensive damage to the building and permit roadblocks have dragged the timeline out.
“When we took it over it was an abandoned property at that time and people had broken down the door to live inside and out back,” Luzier said. “There’s been a lot of neglect through the years, but also the people who moved in, they stripped the wiring out of the building and all that kind of stuff.”
Further hold-ups included adding a fire hydrant, which Luzier said she never anticipated to be their financial responsibility; coordinating to remove the garbage, such as rubber tires and drug paraphernalia dumped on the property over the years; and “emergency repairs” to water seal the building.
Luzier said she pleaded with Charleston County to allow her and her husband to jump a few steps ahead to stop water — and people — from getting in and wrecking the property further. She hopes those concerned about the condition and status of the site now can understand the timeline better.
Feeling at times as though they have taken one step forward and another step back, Luzier noted that the building was vandalized again a few weeks ago. She arrived to find the storefront’s newly installed $20,000 windows shattered.
As a small business owner, she said that’s not the kind of cash they have on hand for a quick fix.
The Luziers purchased the property for $515,000 in 2024, according to county records. It’s sandwiched between the large West Chase Apartment complex and the Interstate-526 overpass.
While the street frontage is narrow, the parcel spans almost an acre backward. The Luziers are using the extra space to constructing a manufacturing warehouse where they can hand-make their products on-site.
“We were really looking for something to make our home and outfit the space and we saw this would be a good fit for our business,” Luzier said.
She noted the store, expected to open in February or March, is a prime location for Stone Casting’s customers, which span all the way to Kiawah Island and Isle of Palms.
Stone Castings of Charleston has been in business for 20 years, though the Luziers bought out the company four years ago. They currently lease their nearby operational space at 1708 Pineview Road.
Future plans for the commercial site include adding a second floor to the main building and incorporating home décor items, as well as complementary pots and stone corbels, to their shoppable inventory.
“A lot of Charleston still doesn’t know that we’re here and people stumble upon us all the time,” Luzier said. “We’re really excited about the new spot because we’re going to try and use it as a reintroduction to the area and show people what we do.”
CHARLESTON — A city board was unable to decide on a development group’s request for conceptual approval to build a six-structure multifamily development in West Ashley, but the discussion made clear that the plans need to go back to the drawing board.An exchange by Charleston’s Design Review Board on Jan. 5, in addition to 81 submitted public comments and several residents who spoke out in opposition, touched on concerns over the proposed Mosby Bees Ferry’s height, design and land use.The project is prop...
CHARLESTON — A city board was unable to decide on a development group’s request for conceptual approval to build a six-structure multifamily development in West Ashley, but the discussion made clear that the plans need to go back to the drawing board.
An exchange by Charleston’s Design Review Board on Jan. 5, in addition to 81 submitted public comments and several residents who spoke out in opposition, touched on concerns over the proposed Mosby Bees Ferry’s height, design and land use.
The project is proposed at 350 Grand Oaks Blvd., off Bees Ferry Road and behind a Harris Teeter supermarket and other businesses in the West Ashley Circle Center shopping complex. It calls for 380 units with 36 townhouses, along with separate garages, a clubhouse and a pool.
“I think even at a height scale and massing, I struggle to support it…,” board member David Meeks said.
No decision was made at Monday’s meeting because developer Middleburg Communities first needs approval from a city zoning board to cut down a number of protected grand trees on the 28-acre property. That determination would impact site design and only then could the project go before the Design Review Board.
But given how many residents weighed in — the applicants waited more than two hours to speak — the city panel was open to discussing the project.
The property has been owned by Bees Resources LP since 1994, according to county land records, and it includes eight acres of wetlands. The site zoned as miscellaneous commercial area.
Middleburg’s proposed apartment buildings would have a maximum height of 55 feet. Plans also call for 589 parking spaces and 25 garages.
Katie Burke, an architect with Cline Design, presented details of the project at the meeting on behalf of the developer. She noted that the “street edge is meant to feel as residential as possible,” with heights increasing inward.
She added the idea is to make a walkable community that will “echo some kind of Lowcountry vernacular” with its design.
Mosby Bees Ferry would back up to Long Savannah Road, the future main thoroughfare for 4,500 homes planned for the neighboring Long Savanna development. More than 20 years in the making, Long Savanna will be broken up into three main parts: a city park, a county park and a 1,200-acre residential area spread over 10 neighborhoods.
Several hundred more homes are planned along a 5-mile stretch of Bees Ferry Road. While traffic was a major feedback theme, the Design Review board said its oversight is limited to the design elements only.
Of the 81 public comments submitted, most focused on concerns that fall outside the panel’s purview. These included land use, stormwater and flooding.
But some noted the buildings felt too tall, and others requested more trees be preserved to serve as buffers. One comment requested better screens for garages and trash cans from the public roadway while another asked the palette of the apartments match the rainbow-hued townhomes nearby.
Frank Ricker, a retired doctor who lives in Grand Oaks, said he moved into the neighborhood because of its “modest” one- and two-level homes and winding roads around ponds and trees.
The Mosby project would require clearing out a huge swath of forest.
“What concerns me is what happens to Charleston. Developers come in … and they just dump these big buildings on us, and these buildings are out of context with the architecture of the rest of the community,” he said.
While congestion was not up for consideration, Ricker said it’s hard to overlook the 400 cars that would add to the already brutal traffic on roads in and around Grand Oaks.
“It’s overdevelopment,” he said.
Charlie Strickland, another resident of Grand Oaks, said he passes by the proposed site almost daily. His said the design does not match the rest of the community that he’s lived in for 20 years.
He asked that the board consider the residents who have to view the project daily, not the developers.
“They don’t live here,” he said.
The board recommended that before returning, the developer review a number of aspects, including strengthening the base of the apartment buildings with a brick water table, adjusting the colors of the pool house, pushing the pickleball courts away from the parking lot to allow for more greenspace and walking paths, and adding more details to the townhome entrances.
Burke did not immediately respond to a request for comment on the timeline on the project.
Vienna, Va.-based Middleburg said on its website that it has acquired, developed and financed more than 32,000 multifamily housing units since 2004 with a total value exceeding $4.5 billion.
Locally, the company built the Mosby Ingleside apartment complex near Interstate 26 and U.S. Highway 78 North Charleston and Hamlet Maybank, a single-family rental community on Johns Island.