Capital Square, a leading sponsor of tax-advantaged real estate investments and a national developer and manager of housing communities, has announced that The Nickel Hotel has been named Charleston's 2026 CoStar Impact Award winner for Commercial Development of the Year by an independent panel of industry professionals.
"The Nickel Hotel reflects our commitment to delivering distinctive, experience-driven development in high-demand markets like Charleston," said Louis Rogers, founder and co-chief executive officer of Capital Square. "We are honored to be recognized by CoStar for a project that blends thoughtful design, historic inspiration and long-term investment value."
Completed in spring 2025, The Nickel Hotel draws inspiration from the ornate ironwork found throughout Charleston — also known as "the Holy City"— including its gates, passageways, historic homes and churches.
The five-story property features 50 units, including two penthouse suites, with full-size kitchens, custom wood vanities, marble countertops and in-unit washers and dryers. Select rooms include arched, floor-to-ceiling windows, while others offer private balconies with double French doors. Amenities include a lush interior courtyard, private guest lounge and the rooftop bar and lounge, Rosemary Rose. Street-level retail space on historic King Street is leased to Greyson Clothiers, a premier lifestyle apparel brand.
Development of The Nickel Hotel was funded by Capital Square's fourth qualified opportunity zone fund, CSRA Opportunity Zone Fund IV, LLC, as well as proceeds from Method Co., the project's co-developer and operator.
As designed under opportunity zone legislation, the development has already delivered significant economic benefits. Construction supported 250 annual jobs and generated $1.6 million in annual tax revenue. The property is also expected to contribute $1.9 million to GDP and $1.2 million in annual labor income beginning in 2025, when the doors opened. Since its launch, the boutique hotel has quickly become a new destination that supports the continued transformation and expansion of Charleston's urban and cultural core.
The CoStar Impact Awards recognize exemplary commercial real estate transactions and projects with significant influence in neighborhoods or submarkets across 129 major markets in the United States, Canada and the United Kingdom. The award celebrates commercial real estate professionals that have brought leadership, innovation and professionalism to their markets, by spotlighting commendable transactions and projects.
Since 2012, Capital Square has completed more than $8.9 billion in transaction volume. Its mixed-use development projects total over 2,000 apartment units with a total development value in excess of $800 million.
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