Former North Charleston Navy Base land in hands of new owner, questions on role of rail (updated)

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First reporting December 7, updates at the bottom. Following the conclusion of bankruptcy proceedings, 240 acres of land on the former Navy Base in North Charleston have been transferred from the Noisette Co. to mystery company CHSA LLC

CHSA has been tied to former S.C. Secretary of Commerce Bob Faith and his firm Greystar Real Estate Partners. The big questions are what plans does the new owner have in store for the $20.3 million worth of riverfront property, and how might those tie in with the battle to run rail through North Charleston's redeveloping riverfront land?

There are few answers at this point, and the company is only promising to make its plans known "soon." However there is an article over at the Charleston Regional Business Journal that paints the stage nicely; take a read here.

I'm certain we can expect a similar report from The Post and Courier in morning, we'll be sure to let you know if it ads anything new to the narrative. 

Perhaps for some added context about Faith's views on economic development I'll point you to this partial column he wrote way back in 2004.

Update December 8, follow: The Post and Courier has indeed posted a write-up and it's a worthy one.

In the second half of the story reporter Katy Stech talks a bit about what hurdles the new owner would have to jump (but how they could) to use the land for rail.

Read her story here.

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