Criminal Defense Attorney inHardeeville, SC

HARDEEVILLE, S.C. — HIC Land has begun construction on Carolina Station, a $300 million master-planned development in Hardeeville, about 17 miles north of Savannah, Ga. Situated along U.S. Highway 278, the project will span 2,600 acres in the state’s Lowcountry region.

HIC Land, which originally acquired the historic Morgan tract for $36 million, has partnered with homebuilder D.R. Horton for the development of an undisclosed number of single-family homes within the campus. Carolina Station will also feature more than 650 multifamily units and 95 acres of commercial space, including shops, restaurants and service retailers.

D.R. Horton has committed to invest $8 million to improve the intersection at U.S. Highway 278 and John Smith Road as part of the Carolina Station master plan. The construction timeline of the multi-phase development was not released.

FRISCO, TEXAS — Locally based developer JPI has completed Jefferson Railhead and Jefferson Parkhouse, two apartment communities totaling 903 units in Frisco, located north of Dallas. The projects represent the first and second multifamily phases of Frisco Railhead, a $3 billion mixed-use development. Jefferson Railhead offers studio-, one- and two-bedroom units that are now 60 percent occupied. Jefferson Parkhouse offers similar floor plans, as well as three-bedroom units, and is now 17 percent occupied. Amenities at both properties include pools with cabanas and sundecks, fitness centers and coworking lounges with private conference and whisper rooms. Frisco Railhead will ultimately comprise 1,300 multifamily units, a 17-story hotel with condominiums on the top two floors, 36,000 square feet of retail space, a 1.5 million-square-foot office campus and a 5-acre central park.

BALTIMORE — MAG Partners has announced its exit from the master development team of Baltimore Peninsula, a $5.5 billion mixed-use development underway in south Baltimore. The multi-phase, 235-acre development, formerly branded as Port Covington, is led by Sagamore Ventures, a developer founded by Under Armour’s CEO Kevin Plank, as well as Goldman Sachs Urban Investment Group and the City of Baltimore.

MacFarlane Partners has also been a member of the development team since joining alongside MAG Partners in 2022, but the San Francisco-based firm has also left the project, according to the Baltimore Business Journal. The news outlet also reported that MAG Partners will stay involved in several office leases in the works alongside leasing agent Courtenay Jenkins of Cushman & Wakefield.

In its departure statement, MAG Partners says the firm was involved in opening 1.1 million square feet of commercial space at Baltimore Peninsula and stabilizing 450 apartments since joining the development team in May 2022. The Baltimore Business Journal reports that Sagamore Ventures is seeking out development partners for the remaining phases of Baltimore Peninsula.

The developer behind a brand-new residential community in Hardeeville is being sued in Florida for allegedly lowballing buyers on their total monthly costs.

Texas-based D.R. Horton is being sued by five plaintiffs for allegedly giving buyers quotes that were lower than their payments. The plaintiffs allege that D.R. Horton and its mortgage arm, DHI Mortgage (DHIM), knowingly suppressed anticipated property tax estimates, leading to monthly payments that were actually about $1,000 more than initially laid out.

One plaintiff, Frankie Santiago, said he was promised a $2,164.68 monthly payment by the company, but ended up paying $3,136.33 less than a year after closing when a new servicer conducted an escrow analysis. The four other plaintiffs said they were promised a $2,602.47 monthly payment; they paid $2,597.84 for almost two years, but after an escrow analysis that payment increased to $3,439.07.

In the lawsuit, the plaintiffs argued that D.R. Horton and DHIM knowingly misrepresented the actual monthly costs. Through a spokesperson, D.R. Horton said the allegations are untrue.

“D.R. Horton and DHI Mortgage strongly disagree with the claims made in the lawsuit, and we intend to vigorously defend against them,” spokeswoman Jessica L. Hansen said in an emailed statement. “D.R. Horton and DHIM have been, and will continue to be, unwavering in our commitment towards transparency with our customers.”

D.R. Horton bills itself as the largest homebuilder in the U.S., and has a sizable presence in the Lowcountry and the rest of South Carolina. The company is building the new Carolina Station development in Hardeeville, a planned 2,600 acre mixed-use community designed to usher a new wave of buyers into the growing city. It is also one of the contractors in a statewide program designed to build more workforce housing.

The company focuses on starter homes, move-ups, active adult and luxury houses. Homebuilding operations accounted for 92% of the company’s consolidated revenues in 2024; the company has homebuilding operations in Hilton Head, Charleston, Columbia, Myrtle Beach and Greenville/Spartanburg, according to its 2024 annual report.

This is not the first time D.R. Horton has faced legal trouble. In January, the State newspaper reported that about 60 lawsuits were filed against the company in Richland, Lexington and Horry counties, alleging major flaws in D.R. Horton-built homes.

The lawsuit comes at a time when many Americans are concerned about housing costs.

Goldman Sachs analysts found that the U.S. home price-to-income ratio is 4.42, higher than its peak of 4.1 in 2006 during the early 21st century housing boom. The average monthly mortgage payment has gone from less than 20% of a potential buyer’s income before the pandemic to more than 30% since 2022.

Mortgage rates hit a 20-year high in 2022 and have sustained ever since, the financial firm said. The 30-year fixed mortgage rate was 6.22% on Nov. 6, lower than this time last year, but significantly higher than 3.87% ten years ago and 3.11% as recently as December 2021, according to Freddie Mac.

The Federal Reserve lowered interest rates by a quarter of a percentage point in September. Some experts said it could lead to a feeling of financial flexibility among consumers, but mortgage rates and interest rates don’t go hand in hand.

Charleston-based HIC Land, a land investment company and master-planned community developer, is investing $36 million into the next master-planned Lowcountry community.

According to a news release, the community, Carolina Station, will be on 2,600 acres of the historic Morgan Tract in Hardeeville. The development will be along U.S. Highway 278, bordering the Georgia state line.

“This groundbreaking represents more than just the start of construction, it marks the realization of a vision to create a thriving community that blends opportunity and quality of life,” Stefan Hoyer, founder and CEO of HIC Land, said in the release. “Our team has worked closely with city leaders and state partners to ensure Carolina Station complements the exciting infrastructure improvements already transforming the area. Local and national developers pursued this land for more than 25 years without success, so we’re proud to be the team that finally brought it across the finish line.”

HIC Land partnered with D.R. Horton, a national home builder, to build Carolina Station. According to the release, the master-planned community will include houses, commercial space, parks, nature trails and sidewalks.

“This project reflects Hardeeville’s commitment to thoughtful, sustainable growth,” Hardeeville Mayor Harry Williams said in the release. “We need nurses, first responders and teachers — and they need quality starter homes like what D.R. Horton is building. Carolina Station will bring housing, jobs and new opportunities to our community while strengthening the infrastructure that supports our city and region.”

The development will be completed in phases over the next few years contributing to up to 8,500 local jobs, the release said.

“This is an extraordinary opportunity to deliver one of D.R. Horton’s flagship communities,” Brad Brundage, president of D.R. Horton’s Coastal Carolina region, said in the release. “Together with HIC Land, we’re creating a place that residents will be proud to call home for generations.”