NASH, Newland Nab 4,000-Acre Community near Charleston
- Mar 07, 2017
By Laura Calugar
Summerville, S.C.—WestRock Land and Development recently sold a major portion of Nexton to North America Sekisui House LLC (NASH), the U.S. operations of Japan-based homebuilder Sekisui House Ltd., and San Diego-based Newland Communities, for an undisclosed amount. NASH’s purchase encompasses approximately 4,000 acres, with 400 acres designated as commercial use. WestRock will continue its development plans, including the $135 million Palmetto Primary Care Physicians medical campus, the Nexton town center retail project and various hotel and retail projects.
“Since 2008, we have enjoyed significant success establishing Nexton as the region’s next job center and our first residential village, Brighton Park, was named Community of the Year in 2015. We selected NASH and Newland Communities because we are confident that they will follow through with our plans for Nexton as they were originally conceived,” said Kenneth Seeger, president of WestRock Land and Development, in prepared remarks.
The project is a first in the Charleston region for both the owner and the developer. Nexton has been approved for up to 13,000 residential units, including multifamily communities. Home prices currently range from $200,000 to $400,000.
Nexton is a master-planned 4,500-acre community that is expected to be completed in phases over the next 10-plus years. The project broke ground in early 2014 and will contain several residential neighborhoods, including multifamily developments, as well as office buildings, hotels, retail properties, entertainment and dining venues.
Images courtesy of Nexton