Real Estate Committee report accepted: lease amendment at 3 Lockwood, Hope Center extension, Brittlebank wireless permit, 15-acre purchase approved

The Charleston City Committee on Ways and Means on Jan. 14 accepted the Committee on Real Estate's Dec. 16, 2024 report, which included multiple committee approvals: a revised fourth amendment to the ground lease at 3 Lockwood with Charleston Marine Holdings; an extension of the lease for the Hope Center at 529 Meeting Street through the end of 2026; annual authorization for wireless technology at Brittlebank Park for Verizon; a purchase-and-sale approval of roughly 15 acres in Berkeley County for public-safety facilities; and leases for 108 Meeting Street and 200 Meeting Street to relocate city staff as part of the 75 Calhoun move-out.

The 3 Lockwood ground-lease amendment was revised from an earlier proposal that would have allowed four extensions of five years each. The committee approved revised terms described in the report as four terms of five years, a three-year extension, and two additional five-year extensions until the lease reaches market rate. The committee said the net effect reduced the…