Drew Turner spent 15 years building things at institutional scale — data centers, multifamily programs, higher-ed projects — before coming home to Charleston and asking a simple question: can that same discipline work on smaller infill deals? The answer, it turns out, is yes. But only if you're willing to accept that ground-up development in the Lowcountry is slower, harder, and more expensive than almost anyone expects going in.

Drew is the principal of Ashley Cooper Properties and has managed over $815 million in commercial projects across multiple markets. He joined GRID Charleston to walk through what it actually takes to develop here — from evaluating raw land to navigating entitlement and permitting, managing carry costs, building the right team, and knowing when to walk away from a deal that doesn't pencil.

This episode covers the full development lifecycle through the lens of Drew's first deal: a half-acre infill site that yielded eight townhomes, a $2.5M total project cost, and a full-cycle exit in under two years. He gets specific — land basis as a percentage of project cost, return on cost benchmarks, the team members you cannot skip, and the single biggest mistake first-time developers make that has nothing to do with the vertical construction.

KEY TAKEAWAYS

[04:00] — Drew's background: 10 years in national commercial construction, JLL owner's rep, multifamily developer in the Carolinas, then going independent in 2024

[09:00] — How Drew's first deal came together: half-acre infill, eight townhomes, $500K land basis, $2.5M all-in, full-cycle exit in under two years

[17:00] — How to evaluate a piece of land quickly: land basis as a percentage of project cost, jurisdiction, zoning, density, and road frontage

[22:00] — What infill actually means in Charleston — and what it doesn't

[26:00] — The biggest cost surprises in ground-up development: site conditions, underground unknowns, and how permitting delays turn into financing carry exposure

[33:00] — Return benchmarks: why 20–30% profit on cost is a solid deal, and why 12–15% return on cost beats institutional standards

[38:00] — The essential development Rolodex: surveyor, geotech, civil engineer, structural engineer, architect, attorney, builder, and agent

[43:00] — How to structure a land contract: why getting permits in hand before closing is best practice — and how Drew learned that the hard way

[50:00] — Realistic timelines: one year for entitlement and permitting, one year for construction, one year for sales — plan for all three

[01:01:00] — Deals Drew has said no to: soft spec home markets, wetland-heavy parcels, and deals with unfavorable infrastructure conditions

[01:08:00] — Advice for aspiring developers: get into ULI, meet engineers early, find a strong partner, and build your network before you need it

GUEST BIO

Drew Turner is a Charleston native and the principal of Ashley Cooper Properties. After a decade in national commercial construction and years in owner's rep and consulting roles at JLL, he returned to the Lowcountry to apply institutional-level development discipline to local infill projects. He has managed over $815 million in large-scale commercial projects and now focuses on ground-up residential development in the Charleston market, with a pipeline of townhomes, single-family infill, and mixed-use parcels in various stages of entitlement.

HOST BIO

Paul Kelton is a real estate investor and the founder of GRID Charleston, a monthly investor meetup that is part of a global network of 30,000 members across 30+ communities. He is also a broker at The Matt O'Neill Team, one of Charleston's top real estate brokerages, and the founder of Tide Property Management.