04/04/2022
9.5 Million Dollar Investment Coming Near Westminster
A realtor out of Florida has big plans for the condos at foxwood hills. A nine and a half million dollar budget promises to bring 114 fully remodled townhouse style units, a fully remodled restaurant and clubhouse, including indoor pool, gym, laundry, outdoor bar and firepit, sportsbar, and on site boat storage.
The condos have had problems since they were first built in the mid-1980's. The original contractors cut corners that left the buildings with issues, but all of that will soon be resolved. Construction forman on the job, Jeremy O'Sheal, assures us that quality is top priority and that all issues will be identified and addressed during the remodel phase. O'Sheal told us, "Our renovation budget is almost five million dollars. You can be sure everything will be done right."
Another major issue that has long plauged the facility was their business model. Insiders to the project tell us that all timeshare contracts have been settled and the new owners purchaced the 39 acre property outright with no contractual obligation to the Foxwood Hills organization. In fact, the new facility will drop Foxwood from its name and it will have no ties to or association with the Foxwood Hills organization.
Investors became interested in this project after an in depth market research study revealed that Oconee County has an underserved short term lodging market. Specifically non-traditional lodging. There are currently over 300 properties in Oconee County available on websites airbnb and vrbo, but research suggests there is a demand for more, and that demand will continue to grow. Oconee's 80,000 acres of national forrest, hiking trails, rivers, 250 waterfalls, lakes, scenic highways and our close proximity to Clemson make this an ideal location for short term, non-traditional, app-based lodging.
While many resort style complexes like this have restrictions on subleasing in the form of airbnb or vrbo, we're told Kinston Manor is investor friendly and will accomodate these guests. This will also allow locally based owners to enjoy the amminities themselves while leasing their unit to airbnb guests. Project leaders have built their pricing structure to be specifically investor friendly.
O'Sheal tells us that his company, Patriot Contruction out of Charleston, will be starting work mid april and plan to be finished in just eleven months with sections opening in phases throughout that time frame.
This project isn't in Westminster. In fact, it is eight miles from city limits, but it will effect Westminster. Residents and guests will be looking to Westminster for their shopping, dining, and fuel needs. They will likely be passing through Westminster regularly. This project will bring over 100 new families and visitors to our local economy.
For more information on the project or pre-sales, contact [email protected]
