CHARLESTON, SC (WCSC) - After a year of discussion, a developer has abandoned its plans for the Lorelei project.
First announced in May 2016, North American Properties planned to transform Laurel Island, a former landfill now 160 acres of waterfront property in Charleston's upper peninsula, into "Lorelei," an upscale, experiential mixed-use community.
The plan included mixing retail with restaurants, a hotel, meeting space, boat access, single-family homes and apartments as well as biking and hiking trails.
"While the project continues to enjoy the support of the City and the community, the pace of discussions and anticipated timeline for the entitlement process did not align with NAP's timeframe for project completion," the company said in a statement Monday.
"We love Charleston, are so thankful for the engagement from the community in this project and will continue to look at investing here when the right opportunity comes along," NAP managing partner Mark Toro added.