Design board OKs bank plans

A bank on Main Street and a former Kmart on Ladson Road will get makeovers.

Summerville's commercial design review board approved plans Thursday for the SunTrust bank building at 741 N. Main St. and a Sears Grand store at 4570 Ladson Road.

The new bank will have more windows than the board would like to see, but the design that was approved will have more traditional elements that the first draft.

The board went with the windows after SouthTrust representatives said letting people look inside the building at night is part of the company's marketing strategy. On the other hand, the final design adds a classical pediment, tapered columns and a more steeply pitched, dark metal roof.

The board also approved a design for a Sears Grand store that will replace the former Kmart on Ladson Road.

The renovation will give the building a red exterior with galvanized roof overhangs in the middle, like an old train depot, with long, rectangular wings extending on either side.

The board required more trees in front to break up the wings.

The project also includes landscaping the parking areas and new signs.

The board also looked at preliminary plans for a medical complex at Cedar and 8th streets and sent them back to the drawing board.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.