CHARLESTON, S.C. (WCBD) — A new hotel hosted a groundbreaking event in downtown Charleston Thursday afternoon, and development officials said it’s a positive sign of the city’s growth.

ROOST Apartment Hotel, located at 529 King Street, is a luxury extended-stay hotel that both the company and city leaders said provides a new option for Charleston’s long-term visitors.

“This will allow people to stay for a day, for a week, or a month, in a fully furnished apartment that feels like a home,” said David Grasso, president and co-founder of Method Co., the company behind the project.

Leaders involved with Charleston’s development said there is a growing need for long-term visitor housing because of the state of the rental market.

“Creating that variety is always a positive for the community,” said Robert Summerfield, the city’s director for planning, preservation and sustainability.

He said the city created a task force several years ago to regulate hotels, putting hard caps on the number of large, full-service hotels that could be built downtown.

The task force has worked for years to strike a balance between the meeting the needs of a tourism economy and maintaining resident livability.

“One of the things we always have to be mindful of is that balance, and that we aren’t inadvertently creating a space that’s only for tourists,” Summerfield said.

Summerfield said the city is monitoring the impact new developments — like ROOST — have on traffic. He said the city’s public parking garages and new bike share program should help mitigate any issues.

“We also find with the variety of properties that are coming into this space, it does open up options for different people who maybe haven’t previously had the opportunity to share in all that is Charleston,” Summerfield said.

Projects like this hotel are a positive sign of Charleston’s persistent developmental growth, which Summerfield said did not slow down during the pandemic.

“People are still looking to invest in Charleston, build their businesses, build their homes,” Summerfield said. “Right now, we’re not seeing an end of that in sight,”

Grasso said this is the second boutique hotel the company has opened in Charleston, adding that the project creates jobs and tax revenue, and is an amenity to the city. The average length of stay at one of the company’s extended-stay properties is about 30 nights.

“This market is one we’ve been looking at for a long time, we’ve always wanted to do something here,” David said. “It’s a dynamic place. We want to be in dynamic markets. And that’s why we’re coming here.” 

The $61 million, five-story project designed by Morris Adjmi Architects features 50 luxury studio and multi-bedroom units, including amenities like valet-operated parking spaces, a co-working space and a publicly accessible rooftop lounge. For more information, click here.