Charleston, South Carolina – The Union Pier rehabilitation project has been underway for some years, and with the Beemok Capital Group gifting a piece of the land to the College of Charleston, it will see major expansion.
“This is a transformative and transformational gift to the College of Charleston,” stated President Andrew Hsu.
For years, the fate of Union Pier has been questioned. It was purchased by Beemok Capital in March 2024, which is owned by Ben Navarro, a Lowcountry businessman. The redevelopment of the land was approved last year.
While much remains unknown about the 65-acre spectacular beachfront property, it is now certain that at least a portion of it will assist shape the Lowcountry’s future corporate leaders.
“The location is such that it will not only allow us to have a world class, business school, but also have closer ties with the local community, business community and our students will have more opportunities for internships and co-ops,” Mr. Hsu added.
Navarro stated that the ancient Carroll Building at North Market and East Bay Street would be donated to the College of Charleston. The facility will be turned into a new, cutting-edge business school.
“We’re going to make this new space the entrance or gateway for the Union Pier,” Hsu told the crowd. “It’s important now to have a reminder that we have a school of business operating not just in the gateway of the Union Pier, but in the heartbeat of our city’s marketplace,” said Dan Frezza, CofC’s Chief Advancement Officer and CEO of the Foundation.
The new facility is designed to act as a gateway for both the city and the school, bringing students, businesses, and the community together in one of the city’s most desirable sites.
It will also serve as a major stimulus for public improvements, particularly on Market Street, according to City of Charleston Mayor Cogswell.
“It is probably long overdue. It will thereafter serve as the gateway and set the tone for the renovation of Union Pier. “So, it’s like dominoes,” Cogswell explained.
Officials at the College of Charleston said the extension will assist the school accommodate its roughly 40% enrollment growth over the last four years while also providing extra space for innovation.
“We have seen a phenomenal 40% growth in our students in business and this will allow us to expand, but also would allow us to be in the center of the city where the visibility for the college will be great,” said Vice President Hsu.
Additionally, they want to have the new plant operational within the next ten years. “Our hope is that by the close of this decade, we have a world class facility for a world class school,” Frezza told me.
City and College executives noted that this is only the beginning of the domino effect of Union Pier’s redevelopment and the College of Charleston’s expansion.
