Transit Oriented Development Summary

A Transforming Region

In the face of steady growth and increased traffic congestion, it's clear that action must be taken to preserve the quality of life in the Lowcountry. Lowcountry Rapid Transit is more than just a transit system: this 21.5-mile project will transform the infrastructure in our region to provide better connectivity for transit riders, bicyclists, walkers and drivers. LCRT is a modern transportation system that will connect communities in our region like never before and will be a catalyst for economic growth and equitable prosperity throughout the area.

Successful Transit Oriented Development in Bus Rapid Transit Corridors is Driven by Three Factors:

Government Support

A regulatory framework and public financing incentives to encourage transit oriented development.

Land Potential

Real estate market potential and land availability for development.

Transit Quality

Speed, reliability and quality of transit.

The Region Today

The Lowcountry Rapid Transit corridor will inherently capture 23% of the projected regional growth. This corridor is prime for development and redevelopment, housing, employment and entertainment areas. Now is the time to strategically develop policies and frameworks to guide this development and focus it in this corridor of opportunity, while also enhancing quality of life for current residents.

Population in the Region

2020

835,695

Projected 2040

1,398,124

67.3% growth over 20 years

Employment in the Region

2020

400,449

Projected 2040

607,633

51.7% growth over 20 years

Enhanced Demand

The introduction of bus rapid transit to the region will create a demand for residential and employment opportunities within the corridor.

The projected population and employment growth of the region, along with the large number of people commuting to the corridor for work, indicates an increasing demand for additional housing opportunities closer to employment centers.

13,900 Work & Live in the Corridor

92,500 people work in corridor, & live outside the corridor

Of those who WORK in the corridor:

13% also live in the corridor
87% live outside the corridor

25,700 people live in corridor, & work outside the corridor

Of those who LIVE in the corridor:

35% also work in the corridor
65% work outside the corridor

Land Use Potential & Demand Considerations

Residential
Retail
Office
Hospitality
Industrial

Homes - both single family and multi-family dwellings

Trends

Homeownership Rate

The homeownership rate is projected to decline, resulting in higher demand for apartments

Household Change by Age

Younger and older populations prefer smaller dwellings and more connected communities

43,000 new residential units projected for the corridor by 2040, an estimated 20% of the overall regional growth. The majority of units are expected to be multi-family.

Commercial buildings catering to in-person customers and sales

Trends

Growth in E-commerce

Increasing rate of e-commerce sales reduces the overall need for brick and mortar store space

Population Increase

Despite retail decline, rapid population growth will result in demand for additional retail

4.1M square feet of retail is anticipated within the corridor by 2040. Growth is projected to cluster around existing retail centers (e.g. Northwoods) and in new walkable mixed-use destinations closer to Summerville and the Peninsula.

Commercial buildings focused on services and the production of intellectual property

Trends

Declining SF per Employee

Office space is projected to become more efficient over time

Demolition of Obsolete Space

Some existing office will be converted or demolished as office spaces needs adapt over time

6.9M quare feet of office space projected in the corridor. Finance, insurance and real estate jobs have the highest projected growth rates between 2020 and 2040.

Real estate catering to overnight visitors – hotels, hostels, bed and breakfasts

Trends

Short-Term Rentals

Traveler preferences for short term rentals are expected to negatively impact hotel growth through 2040

Occupancy Rates

Occupancy rates in the region are higher than average, suggesting demand for new development exists

5,400 new hotel keys projected for the corridor by 2040. Approximately 50% of all hotel growth in the region is projected to take place along the corridor.

Commercial buildings focused on the manufacturing or distribution of goods.

Only 15% of demand is currently unallocated, which means that the market is saturated and additional development of this type is not appropriate for the corridor.

Opportunities for Growth Along the LCRT Corridor

LCRT Corridor
Known Developments
1/2 Mile Station Area
Potential Station
Key Location

Click on a key location on the map for more information.
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Emerging Commercial Downtown Summerville

Rapid residential development and existing retail undersupply increases retail development opportunities.
Historic town center has regional tourism and entertainment draw. Emerging opportunity for a new office cluster.
Expansion of downtown Summerville, northeast of railroad tracks – continuing the walkable environment and enhancing small-town attraction for tourists.

Transformation from Rural Exchange Park / County Fairground

Currently rural character with slower growth than rest of corridor.
Many greenfield sites suggest future growth as more development gravitates to this subarea.
Predominately opportunity for lower density residential development with relatively higher density near stations.

Transformation from Rural Ingleside

Currently rural character with slower growth than rest of corridor.
Many greenfield sites suggest future growth as more development gravitates to this subarea.
Predominately opportunity for lower density residential development with relatively higher density near stations.

Evolving Retail Northwoods Mall

Northwoods Mall and adjacent retail centers currently form the largest retail cluster in the region.
As retail evolves this area, it could transition from a suburban big box environment to a mixed-use hub incorporating residential uses and healthcare, educational and institutional anchors.

Enhancing Employment Airport / Boeing

Expected expansion of one of the largest employment clusters in the region. Zone likely to experience a high concentration of office and hospitality development.
Opportunity to provide residential and supporting retail around stations and closer to job centers to reduce commute times and create a stronger live work play environment.

Preserving Affordability Reynolds Avenue

Need to preserve naturally occurring affordable housing while introducing new affordably priced homes to create inclusive mixed-income neighborhoods.
Leverage transit investment to strengthen existing communities.

Innovation Magnolia

Emerging innovation corridor as start-up companies and residential developments continue to co-locate in this area close to the Peninsula with significant land availability.
Large publicly owned sites create opportunity for master-planned growth.

Amplifying Historic Assets Historic District

An urban fabric ideal for transit. The region’s destination for tourism, healthcare, education and retail.
Opportunities for infill redevelopment of older industrial and strip commercial to new mixed-use formats that complement existing character.

Take Control of the Future

The policies we put in place today will decide what our community looks like tomorrow. Decisions made as a result of this project will impact various aspects of daily life including:

Street Networks

Parking

Stormwater

Building Regulations

Affordable Housing

Land use

Park and Rides

Food Deserts

Mobility

Zoning