CHARLESTON, S.C. (March 14, 2016) — The Cigar Factory, located in downtown Charleston, has been recognized as one of “Preservation’s Best of 2015” by Preservation Action, the National Trust for Historic Preservation and the National Trust Community Investment Corporation. Once a vacant building deeply rooted in the city’s history, the Cigar Factory is now a mixed-use destination for high-end retail, professional offices, culinary destinations and event experiences.
Currently 80 percent leased with more than 25 tenants and strong leasing momentum, the Cigar Factory is recognized as an exemplary Historic Tax Credit project that has helped revitalize downtown Charleston. The award highlights the project as a viable community asset for the 21st century economy and a driver of economic development for the entire state of South Carolina.
“I am honored to receive the Preservation’s Best of 2015 award on behalf of the Cigar Factory,” said William Cogswell, president of WECCO Development. “Built in the 1880’s, we are proud to create a destination and user experience where people can gather, work and enjoy excellent cuisine and retail at a project that preserves Charleston’s rich history.”
Cogswell accepted the award on behalf of the Cigar Factory and his partners at the annual National Historic Preservation Advocacy Week’s Congressional Reception in Washington, D.C., on Wednesday, March 9. Members of the South Carolina congressional delegation, the Congressional Historic Preservation Caucus, Preservation Action members and partners and preservationists from across the nation were invited to recognize the revitalized project.
About Cigar Factory:
Built in 1881, the Cigar Factory served as a textile factory, a cotton mill and then a cigar factory over a period of more than 70 years. During the 1930s, the factory was the largest private employer in Charleston with 1,400 workers generating more than 400,000 cigars daily. The building was added to the National Register of Historic Places in 1980, and Roi-Tan Investments, a group of local investors led by developers William Cogswell and Jay Weaver and Maryland-based real estate investment firm Federal Capital Partners® purchased the Cigar Factory in 2014. Today, the property is a first class, mixed-use building that includes creative work/office space, signature restaurants and event space, high-end retail and abundant parking.