October 22, 2025

College of Charleston Receives Major Donation for Business School Expansion

Charleston, South Carolina, October 22, 2025

News Summary

The College of Charleston has announced a significant donation from Beemok, which will help expand its School of Business. The donation allows the College to acquire the Carroll Building, a prime location for developing state-of-the-art classrooms and collaborative spaces. With a remarkable increase in enrollment, the new site will enhance student connectivity to both local and global business leaders. The Carroll Building’s renovations aim to create a best-in-class business school amid plans for future developments in downtown Charleston.

Charleston, South Carolina – The College of Charleston has announced a significant donation from Beemok, the family office of Benjamin and Kelly Navarro, which will aid in the expansion of its School of Business. This transformative gift allows the College to acquire the long-abandoned Carroll Building, prominently located at the intersection of Market Street and East Bay Street, for its business school.

College of Charleston President Andrew T. Hsu expressed gratitude for the Navarro family’s generosity, highlighting that the new site will enable a best-in-class business school that connects students to Charleston’s vibrant business environment. The plans for the Carroll Building include the development of state-of-the-art classrooms and collaborative spaces, as well as robust connections to both local and global business leaders. The business school is anticipated to become a focal point of future developments at Union Pier.

Enrollment in the College of Charleston’s School of Business has seen a remarkable increase of 39% in recent years, with current enrollment reaching 2,557 students in 2024. The Carroll Building, described by Benjamin Navarro as one of the least attractive buildings in downtown Charleston, was previously used to house various institutions, including the now-closed Art Institute of Charleston. Plans may also include demolishing parts of the Carroll Building that lack historical significance to allow for additional redevelopment.

However, the timeline for any redevelopment of the site remains undetermined. City officials, such as Mayor William Cogswell, view this donation and its subsequent development as a beneficial use of the location, which is now set to enhance opportunities for collaboration, internships, and community engagement within a key part of downtown Charleston. The site offers excellent visibility and accessibility for students and the surrounding community.

The Carroll Building is subject to easement restrictions overseen by the Historic Charleston Foundation, which may affect the potential for its redevelopment. The College’s current business school location is on Liberty Street, near the iconic Cistern. With this new donation, the College of Charleston is set to revitalize the Carroll Building and expand its educational offerings in line with the growing demand for business education in the region.

Key Features of the Donation

Donor: Beemok, family office of Benjamin and Kelly Navarro
Building: Carroll Building
Location: Intersection of Market Street and East Bay Street
Current Enrollment: 2,557 students in 2024
Enrollment Increase: 39% over recent years
Future Development: Part of the Union Pier project

FAQs

What has the College of Charleston received from Beemok?

The College of Charleston has received a significant donation of the Carroll Building from Beemok, the family office of Benjamin and Kelly Navarro.

What is the significance of the Carroll Building donation?

The donation allows for the expansion of the College’s School of Business into a prime location, fostering a state-of-the-art educational environment that connects students with local and global business leaders.

What are the plans for the Carroll Building?

Plans for the Carroll Building include developing state-of-the-art classrooms, collaborative spaces, and improving connectivity with the local and global business environment.