Jamestown is a real estate and investment company that has previously redeveloped Atlanta’s Ponce City Market, New York’s Chelsea Market, and Brooklyn’s Industry City. It will be teaming up with State Representative William Cogswell and Jay Weaver, who previously expressed interest in purchasing the former Charleston Naval Hospital so they could turn it into hundreds of apartments. The 45-acre Navy Yard project is estimated to bring more than 1.2 million square feet of new office space, residences, shopping, and dining to the nearby Park Circle neighborhood. “This project will improve connectivity and serve as a catalyst for more innovation in the neighborhood,” said Michael Phillips, President of Jamestown. “A strong local business community is emerging in the area, and we look forward to working with neighbors and the city to build something we believe will be truly additive.” “The naval historic district has great bones and a tremendous amount of character,” said William Cogswell. “We are excited to be a part of all the positive things that are happening both in North Charleston and the region as a whole. We couldn’t have a better or more aligned partner than Jamestown, a company that has created huge success with the long-term vision they have brought to their properties across the globe.” The Navy Yard began operations as a dry dock back in 1901 and held a naval presence on the North Charleston waterfront for nearly a century. After being decommissioned in 1996, some of the buildings have been used for various purposes while others have have their conditions decline. “We look forward to working with Jamestown, Jay, and William,” said R. Keith Summey, Mayor of North Charleston. “They are continuing to establish the vision we placed for the Navy Yard once it closed. Historic structures, Page 3 of 3 community rebirth, and a revitalized future in an area that needs attention. Jay and William have a track record in North Charleston, and we know of the great communities Jamestown has created. Good things come to those who wait.” Other plans for the area include new green spaces, a concert hall, and an outdoor events venue. Crews expect to break ground later in 2021, and the project is already in the design phase. “While Navy Yard Charleston will go through extensive renovations, the team has made a commitment to preserve the area’s local character, architectural detail, and history and bring new amenities to the community along the Cooper River,” Jamestown said in a statement.

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