October 22, 2025

Donation of Carroll Building to College of Charleston

Charleston, South Carolina, October 22, 2025

News Summary

Ben Navarro and his family have donated the Carroll Building to the College of Charleston, marking a significant step in the expansion of its business school. Located at a key downtown intersection, the previously vacant building is set to undergo redevelopment, providing state-of-the-art classrooms and collaborative spaces for students. The donation is seen as a transformational gift that will enhance internship opportunities and collaboration within the business program, which has experienced considerable growth in enrollment. College officials express excitement over the potential benefits stemming from this generous gesture.

Charleston, South Carolina – Ben Navarro and his family have donated the long-vacant Carroll Building to the College of Charleston for the expansion of its business school. This significant donation, announced on October 18, 2025, is expected to transform the business school and provide increased opportunities for collaboration and enhanced internship opportunities for students.

The Carroll Building, located at the northeast corner of Market and East Bay streets in downtown Charleston, near the historic City Market, was purchased by Navarro for $11.5 million just last month before the donation. Described as “one of the ugliest buildings in all of downtown” and situated at a “dangerous intersection,” the structure represents a long-standing challenge for the area.

Navarro, the founder of Beemok Holdings, teaches a business course titled “Intentionality” at the College of Charleston. His plans for the Carroll Building include the potential demolition of the non-historic sections for redevelopment, although specific timing for this has not yet been determined. The new development aims to provide state-of-the-art classrooms, collaborative spaces, and direct access to local and global business leaders.

The College of Charleston administration views the donation as a “transformational” gift. Andrew Hsu, the president of the College, indicated that it would allow for the construction of a best-in-class business school. The institution has seen significant growth in its business programs, with enrollment increasing by 39% over the past four years, reaching 2,557 students in 2024.

Paul Schwager, dean of the School of Business, called the donation a “game changer,” highlighting the potential benefits for students and faculty alike. The Carroll Building, which previously housed businesses such as Carroll’s Seafood and features historical architecture dating back to the early 1900s, has long remained vacant. The structure suffered damage from a fire in 2020, and it has been on the market for over six years, including a failed sale in 2019 with an asking price of $22.25 million.

This site is also subject to a preservation easement by the Historic Charleston Foundation, which limits its development potential. Mayor William Cogswell expressed support for the adaptation of the building, emphasizing it as a “great use” for an area in need of infrastructure improvements. The entire location is viewed as a crucial development opportunity for rejuvenating the Union Pier area.

In the near future, the site is expected to become a gateway for both the College of Charleston and the adjacent 67-acre Union Pier Terminal, which Navarro’s business is acquiring for $250 million. Beemok Holdings aims for the building to reflect community values and integrate it seamlessly into the surrounding urban landscape. The Carroll Building’s last significant tenant was the Art Institute of Charleston, which closed its campus in 2018.

Key Details about the Carroll Building Donation

Donor: Ben Navarro and family
Location: Carroll Building, southeast corner of Market and East Bay streets, Charleston, SC
Building Purchase Price: $11.5 million
Date of Donation Announcement: October 18, 2025
Potential Development: Demolition of non-historic sections, new classrooms and collaborative spaces
Enrollment Increase: 39% over the past four years, 2,557 students in 2024
Associated Projects: Acquisition of the 67-acre Union Pier Terminal for $250 million
Previous Tenants: Carroll’s Seafood, last tenant Art Institute of Charleston which closed in 2018

FAQ

Who donated the Carroll Building to the College of Charleston?

Ben Navarro and his family are donating the long-vacant Carroll Building to the College of Charleston for expansion of its business school.

What is the purchase price of the Carroll Building?

Navarro purchased the property for $11.5 million last month prior to the donation.

What will be developed on the site of the Carroll Building?

Specific timing for development has not been determined, but the section of the Carroll Building that is not historically significant may be demolished and redeveloped to create state-of-the-art classrooms, collaborative spaces, and direct access to local and global business leaders.

Why is the donation considered transformative?

The donation is seen as a “transformational” gift by the College of Charleston, providing increased opportunities for collaboration and enhanced internship opportunities.

Key Features of the Carroll Building Donation

Feature	Details
Donor	Ben Navarro and family
Location	Northeast corner of Market and East Bay streets, Charleston, SC
Purchase Price	$11.5 million
Enrollment Growth	39% increase over four years
Development Potential	May include state-of-the-art classrooms and collaborative spaces