Residents of Charleston’s Dockside Apartments are now being told they may have to pay a combined $151 million in repair costs—without any help from insurance.
The building, first constructed in the 1970s, has been vacant since early 2025 after being declared structurally unsafe. But now, homeowners are learning that restoring the complex could cost far more than expected—and insurance companies won’t be helping.
Residents Left With Full Bill
According to the Dockside Homeowners Association (HOA), the costs won’t just impact residents in the high-rise tower but also owners of nearby townhomes in the same complex.
Christian Addison, who owns one of the townhomes, expressed frustration. “Insurance is blanket denied every single home. Even the town homes, even though it’s not even our building that’s messed up,” he said.
Why Insurance Isn’t Covering Repairs
Legal expert Hal Cobb from Cobb Hammett Law Firm says the issue may stem from the type of insurance the HOA selected—or didn’t select.
“This may not be about what insurance companies will or won’t write,” Cobb said. “It might be that the HOA didn’t purchase the right type of coverage when it had the chance.”
Without insurance, the entire repair cost would fall to the unit owners. Cobb warned that owners may now be expected to pay unexpected amounts not included in their regular HOA fees or annual budgets.
Is the Building Worth Saving?
The Dockside complex was built decades ago, and Cobb questions whether spending $151 million to fix it makes sense.
“It might cost more than the building is actually worth,” he said. “That means the board and the residents will have to make some tough decisions.”
When News 4 reached out to the HOA to ask why repairs were so expensive and what exactly needed fixing, they declined to comment.
With no insurance support and a $151 million repair bill on the table, Dockside residents are now left to decide whether to invest in a major restoration or walk away from aging property. As pressure builds and frustration grows, many homeowners fear for their financial futures—and wait for answers that have yet to come.
