Middleburg Communities to Develop 211-Unit Single Family Rental Community in Charleston, South Carolina

Middleburg Communities (“Middleburg”) today announced it has closed and plans to commence construction on a 211-unit single family housing community on an approximately 46-acre land parcel in Johns Island, South Carolina, one of the fastest-growing submarkets in the Charleston Metropolitan Statistical Area. Middleburg plans to leverage its in-house construction capabilities to transform the land into a vibrant neighborhood community that will offer individuals and families the opportunity to partake in the benefits of single-family living without the hassle of property maintenance and upkeep. The community, to be known as Hamlet Maybank, is a joint venture between Middleburg and Parse Capital (a subsidiary of The Wolff Company).

“Hamlet Maybank promises to deliver an exceptional single-family living experience in the heart of one of America’s most active submarkets. The value proposition our Hamlet brand offers is unmatched – all of the comforts of home ownership with the ease and flexibility of renting and no down payment required – and that is why we are experiencing overwhelmingly strong demand in the other high-growth Southeastern markets where we are developing this prototype. We have no doubt we will experience similar interest at Hamlet Maybank, especially as more and more individuals choose to relocate to hotspots like Charleston and seek out traditional neighborhood environments to raise families.”

Selim Tay-Agbozo, President of Middleburg Development.

In addition to several high-quality interior features that Hamlet Maybank will offer, including spacious kitchens with islands, granite countertops and stainless-steel appliances, Bluetooth keyless entry, Nest thermostats and large walk-in closets, the community will also offer its residents a number of resort-style amenities, such as a freestanding clubhouse and pool, walking paths, tree-lined streets and professional landscaping. Floorplans will range in size from 785 to 1,694 square feet, with monthly rents starting at $1,930.

The proposed site of Hamlet Maybank, located at 2029 Harlow Way in Charleston, sits just 20 minutes from Downtown, more than 68,000 jobs and a number of the area’s main attractions, including beaches, golf courses, restaurants and nightlife. What’s more, given its natural beauty, welcoming lifestyle and economic development, Johns Island has experienced a 50 percent increase in population growth over the past 12 years and is projected to continue being a preferred destination for people of all ages.

Financing for Hamlet Maybank was provided by First National Bank.