Driving north through Charleston, South Carolina’s upper peninsula, Katie McKain explains the rationale behind a new initiative that seeks to shape this rapidly developing district, home to several creative and high-tech businesses and some of the city’s hottest commercial real estate. In a city known for its politeness and graciously restored historic homes, it is not surprising that Charleston is approaching its growth strategy with such thoughtful consideration.

“We’re expecting our population to nearly double in the next 20 years,” McKain, a senior planner with Charleston’s city government, says on a tour that kicked off ULI Carolinas’ Second Annual Meeting in early February. “The growth here is on fire. We want to ensure that it happens in a responsible, sustainable way.”

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The Upper Peninsula Initiative taps into the momentum that has been building over the past decade as the Charleston economy has grown more vibrant and diversified. Ranked 20th among U.S. markets to watch in Emerging Trends in Real Estate^® 2015, Charleston still counts tourism, logistics/distribution, and defense/aerospace as its main economic drivers, but it is the technology sector that has captured national attention. Dubbed “Silicon Harbor” by Fast Companymagazine, Charleston has become a hotbed for digital startups with homegrown firms like Blue Acorn, PeopleMatter, andBoomTown! creating high-wage jobs, drawing talent from outside the region, and pumping dollars into the regional economy.

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