Downtown's Newest Luxury Rentals Start at $9,000 a Month
The Beach Company completes The Charles, a 23-unit waterfront project where three-story townhomes rent for up to $23,000 monthly—a price point that tests the ceiling of Charleston's luxury market.
The Beach Company has completed The Charles, a 23-unit luxury waterfront development in downtown Charleston where monthly rents range from $9,000 to $23,000—prices that would cover a mortgage payment on a $2 million home.
The project, which wrapped construction in December, includes 15 three-story townhomes and eight residential flats ranging from 1,600 to 3,400 square feet. Units feature mahogany entry doors, quartz countertops, rooftop terraces, and oversized windows designed to capture waterfront views.
Balfour Beatty served as general contractor on the project.
“Our team is proud to deliver The Charles, a project that exemplifies the craftsmanship and attention to detail that Charleston deserves,” said George Ushold, Balfour Beatty’s vice president of operations in the Southeast.
The price points place The Charles at the extreme upper end of Charleston’s rental market. For context, median rent in the Charleston metro area hovers around $1,800 monthly, according to recent market data. The $23,000 ceiling at The Charles represents nearly 13 times that figure.
The Beach Company, a Charleston-based developer known for The Jasper at Kiawah Island and other high-end residential communities, is betting that demand exists for ultra-premium rentals in a market where purchasing waterfront property has become increasingly difficult.
Waterfront lots on the peninsula rarely hit the market, and when they do, they command prices that put ownership beyond the reach of even affluent buyers. A rental product at this price point offers access without the eight-figure purchase price.
The development includes dedicated parking, landscaped gardens, and community gathering spaces—amenities that have become standard in luxury projects but remain rare in Charleston’s historic downtown, where most buildings predate the automobile.
Whether The Charles finds tenants at its asking rates will test assumptions about the depth of Charleston’s luxury rental market, which has expanded significantly in recent years but has rarely seen products at this price tier.