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The Regatta Inn sits along the Sunset Cay Marina on the west side of Folly Beach. The 10-room hotel has some new owners: A Charleston-based hospitality firm.
A redevelopment of the Martin Luther King apartments in Hartford’s Sheldon Charter Oak neighborhood has been stymied after organizers learned inflation and higher interest rates have increased the project’s costs by about $8 million. “We thought we had it sourced, but interest rates went up and construction costs went up,” said Capital Region Development Authority Executive Director Michael Freimuth of the now $58 million project. “We got hit on both ends and it opened up a hole.”
A redevelopment of the Martin Luther King apartments in Hartford’s Sheldon Charter Oak Neighborhood has been stymied after organizers learned inflation and higher interest rates have increased the project’s costs by about $8 million. “We thought we had it sourced, but interest rates went up and construction costs went up,” said Capital Region Development Authority Executive Director Michael Freimuth of the now $58 million project. “We got hit on both ends and it opened up a hole.”
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The ambitious redevelopment of the deteriorating Martin Luther King Apartments near downtown — expected to start this spring — will now be delayed for months.
A $50 million plan to raze and rebuild the Martin Luther King Apartments on Van Block Avenue in Hartford is the final major piece of a redevelopment puzzle envisioned in the 1990s to strengthen the Sheldon Charter Oak neighborhood.