The Impact of Sea-Level Flooding on the Real Estate Development Community in Charleston SC: Results of a ULI Member Survey

Abstract

Climate change is becoming an increasing concern for many communities, particularly coastal communities subject to tidal and sea-level flooding. As a result, shoreline municipalities walk a fine line between protecting their communities and allowing more development. A prime example of this dilemma is the port city of Charleston, South Carolina, USA. Despite being ground zero for sea-level flooding, the city has seen rapid real estate development growth. This paper analyzes a survey conducted with Urban Land Institute (ULI) members in the Charleston region to understand how the real estate community is coping with and combating flooding impacts. Results show that while residential real estate developers are rethinking their development patterns, commercial developers are slow to recognize the threat of climate change impacts. The paper concludes with suggestions for policies and practices to address these threats, strengthen Charleston's commercial real estate, and better prepare the city for a safe, prosperous future.