You searched for:

Start over

Narrow Search

Best Charleston County Money Pit 

Old Naval Hospital

Staff Pick

It’s pretty easy these days to get frustrated with government. But over the past year, the old Naval Hospital in North Charleston has emerged as a frontrunner for the most recent local example. Bought by the City of North Charleston from the feds for $2 million in 2010, the city flipped it to a group of developers including Donald Trump, Jr. for $5 million in 2012. In 2014, Charleston County approved a 25-year lease that would pay the developers $1.8 million per year, but delays and disputes prompted Council to try to pull the plug. When the county’s landlord cried foul, a bunch of lawyers decided that Charleston County taxpayers paying $33 million was a fair deal for a building that was bought for $2 million a decade earlier. It’s certainly a good deal for someone. —Sam Spence

Comments

Subscribe to this thread:

Add a comment

Classified Listings

Powered by Foundation   © Copyright 2018, Charleston City Paper   RSS