35 Folly Charleston Apartment Review
At the intersection of Ablemarle and Folly roads in Charleston, South Carolina there will be a beautiful 300-unit multifamily development that will be completed in 2015. Many news and media outlets have reported that this will be an apartment complex focused on housing College of Charleston, MUSC (Medical University of South Carolina) and others looking to reduce rental costs. The Flourney Properties press release states that 35 Folly will be “a 300-unit multifamily development located alongside the Ashley River in Charleston.”
When driving by this part of Charleston, South Carolina it is quite obvious this will be one of the more affordable locations outside of downtown. The apartment rentals of one and two bedroom studios will likely be much cheaper than the options on King, Meeting or East Bay streets. College of Charleston students may have to commute an extra 20 to 30 minutes but it could save them as much as $500 a month in rent.
Location of 35 Folly Apartments
West Ashley Greenway and New City Park
Restaurants and Stores at 35 Folly
Cost and Reviews of 35 Folly Apartments
Location of 35 Folly Apartments
Admittedly, I was not excited about the location of 35 Folly on the corner of Folly and Ablemarle roads but it is just across the Ashley River Bridge from MUSC. If you are looking to get deeper into downtown, near the Battery, it is going to take quite a bit longer. That said, the cost of living on this side of the Ashley River is much more affordable than downtown. Here is the location in relation to 17, 171 and 61.
West Ashley Greenway and New City Park
This new development will not only be new apartments and retail; it will also include a one acre park and the extension of the West Ashley Greenway. This will be a very attractive feature for those that are hoping to see this part of the city grow. A park and greenway will be great for those looking to enjoy the outdoors and take a stroll on the Ashley River. At this point we do not know the name of the park but it will likely be named after the Ashely River in one way or another. If you have any information on the name of the park please feel free to comment below.
Restaurants and Stores at 35 Folly
Like many new apartment complexes throughout the southeast it will likely be the case that there will be retail establishments and restaurants on the bottom floor of the apartment buildings. This has not been confirmed but this photo from the Flourney Properties website sure makes it look that way:
The bottom floor of many of these types of apartments will house a coffee shoppe, a few restaurants, which could include pizza, a hamburger place or a fine dining establishment. Some of the more common fast food restaurants and retailers in these types of locations include Five Guys, Firehouse Subs, ChickFilA, Stabucks, Pure Barre and Orange Theory Fitness. As we hear word of the possible retail establishments and restaurants that will lease out this space we will be sure to pass on the information.
With the Tanger Outlets just a few miles up the road in North Charleston I would highly doubt stores like Coach, Forever 21, Gucci, Michael Kors or Nike would open a store in this particular space. That said, Lululemon and other speciality retailers might be perfect for this type of locale. I will try to stay up to date on the ongoings through Twitter and other types of social media. At this point there have been zero mentions of 35 Folly on Twitter but that is sure to change.
Cost and Reviews of 35 Folly Apartments
At this point the monthly rental cost is still up in the air. 35 Folly will feature studio, one- and two-bedroom units from 500 to 1,200 square feet. Obviously, the smaller the apartment the cheaper the rent. With this location being outside of downtown and not in the best area of Charleston one would imagine renters could get a rate under $800 a month. For the smallest apartments, it may be possible to get rent as low as $500 a month. As soon as these apartments open I will update the resource and let you know just how much you can expect to pay each month.
If you plan on renting remember that the monthly rental cost will be reduced the longer you sign a lease. If you are only willing to sign a three or six month lease you are going to pay more than if you were willing to sign a 12 or 15 month lease. If you are a student going to MUSC or the College of Charleston it is sometimes hard to sign a longer term lease but it could save you money down the road. If you plan on staying in Charleston over the summer a longer lease term might be the correct decision for you.