Charleston, SC
500 East Bay
Green Room Partners Completes Three-Year Assemblage and Entitlement of 500 East Bay, Selling Shovel-Ready Development Site to Landmark Properties Joint Venture
Charleston, South Carolina — November 6, 2025
Green Room Partners ("GRP"), a Charleston-based commercial real estate investment and development firm, today announced the completion of a three-year assemblage, entitlement, and sale of 500 East Bay, a 1.21-acre development site in Charleston's Historic District. GRP assembled and entitled the site independently before selling it to a joint venture between Landmark Properties and Henderson Park as a fully entitled, shovel-ready development opportunity.
GRP assembled four separate parcels from multiple sellers along East Bay Street and navigated Charleston's rigorous historic preservation and zoning approval processes to deliver a turnkey development site. The approved development program includes 119 units of Class A multifamily totaling 221,875 square feet, with 118,420 square feet of net residential space, 18,252 square feet of amenities, and 6,300 square feet of ground-floor retail.
Located within the city's preservation overlay district, the project required extensive coordination with the Board of Architectural Review and planning authorities to ensure design compatibility with Charleston's waterfront character. The resulting entitlement reflects a context-sensitive urban infill development aligned with the Historic District's architectural standards.
The site is located less than half a mile from the College of Charleston campus and adjacent to the Cooper River waterfront in one of the most supply-constrained residential submarkets in the Southeast. The Landmark Properties and Henderson Park joint venture intends to develop the project as purpose-built student housing serving the College of Charleston.
John Lari — Co-Managing Partner, Green Room Partners
"We're proud to have delivered an exceptionally complex building spanning three different height districts in one of the country's oldest historic preservation areas. We should acknowledge that our design team leads, Kelly Hosack and Jake Beck at Greenberg Farrow, were true partners throughout the process, and that commitment made a real difference. We believe the finished building will serve as an attractive gateway to the neighborhood for years to come while helping meet Charleston's growing housing demand."
About Green Room Partners
Green Room Partners focuses on the acquisition and development of Build-to-Rent communities, multifamily housing, and specialty retail assets across the Southeast. Based in Charleston, South Carolina, the firm and its principals have developed and acquired more than 3,000 residential units and over 4 million square feet across residential, retail, and office projects, representing more than $1 billion in cumulative capitalization.
198 East Bay Street, Charleston, South Carolina · info@greenrp.com