Construction begins on Daniel Island townhome community

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Construction is underway on a build-to-rent luxury townhome community on 5.5 acres in Nowell Creek Village.

Holder Properties announces a partnership with East West Partners and SilverCap Partners to develop a purpose-built rental townhome community on 5.5 acres in Nowell Creek Village. The marsh-front community will feature premier amenities and three and four-bedroom units with attached garages.

Holder Properties said in a news release that it has partnered with East West Partners to develop the project. SilverCap Partners provided majority equity for the project, with construction financing provided by Georgia Banking Co. Patterson Real Estate Advisory Group led the capital raise and debt placement process, the release stated.

The project is the latest phase of Holder’s broader development plans at Nowell Creek Village on Daniel Island. Holder Properties purchased the 36-acre site between Nowell Creek and Beresford Creek in 2019 and set out to create a mixed-use community surrounded by the natural environment.

The waterfront community is currently home to Marshside, a Class A office building owned and managed by Holder, as well as a 320-unit multifamily project under construction by Middle Street Partners. Boutique retail, as well as a community park and dock, are in the planning and permitting phases, the release stated.

“We’ve owned this land for nearly five years and have been intentional about its purpose and our partners,” Will Menkes, president of Holder Properties, said in the release. “Limited residential inventory, coupled with high demand to live on Daniel Island, has created a strong need for purposefully built rental homes that provide access to the island’s great schools and amenities. The ability to move this project forward in today’s challenging macroeconomic environment speaks volumes about the merits of this project and the team assembled to bring it to life.”

East West Partners is a luxury developer “devoted to supporting high-quality real estate and lifestyle experiences.” On Daniel Island, they also developed The Waterfront, a luxury 22-acre community featuring residences, retail and community amenities.

“This new townhome community within Nowell Creek Village represents an incredible opportunity for East West Partners to expand our portfolio into the build-to-rent market and continue addressing the demand for luxury residences on Daniel Island,” East West Partners Managing Partner Miller Harper said in the release. “With interest in the lifestyle that Daniel Island affords at an all-time high, we are excited to bring to market a project that aligns with our values of offering high-quality real estate with a focus on community.”

The first units are expected to be ready in spring 2025, the release said.