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South Carolina's Budget and Control Board approved a sale Wednesday of 317-acre Port of Port Royal site owned by the South Carolina Ports Authority to a subsidiary of Greenville, South Carolina based Furman Company.
An envision of a major waterfront development includes 400 homes, over 250,000 square feet of offices, shops or restaurants, a marina, and a hotel.
Suggested Reading:
Bell, Rudolph. "Greenville Developer Set to Buy Port of Port Royal." The Greenville News. 2014-11-26. Retrieved 2014-11-29. <http://www.greenvilleonline.com/story/money/business/2014/11/26/greenville-developer-set-buy-port-port-royal/19558827/>
Saw/heard on local Beaufort/Port Royal news program that the local officials feel pretty confident that the sale will be finalized by Mid Summer to early fall 2015. But to paraphrase (SP?) that not all the T's are crossed nor the I's dotted.
So Carolina Knight what do you think is going to happen? Is it going to Auction?.... & what'll end up Happening?...It seems like a bad situation but I haven't read all of the News links you posted.
If another potential developer does not step forward to buy the site from the South Carolina State Ports Authority by June, the Division of General Services will auction it. Either way, the State of South Carolina is divesting its interest in the site.
The Town of Port Royal has an opportunity to maximize the site for residential, commercial, professional and lodging uses with the site.
Two bids were submitted for the Port of Port Royal side when the bidding process closed Tuesday, 26. May. A buyer would have to be decided by Tuesday, 30 June, or the site goes to the State of South Carolina to be auctioned.
The next South Carolina State Ports Authority board meeting is Wednesday, 17 June.
Palmetto Alliance Realty Group Approved to Purchase Port of Port Royal
Palmetto Alliance Property Group LLC received unanimous approval from the South Carolina State Ports Authority to purchase the Port of Port Royal site for $15.42 million.
Palmetto Alliance Property Group LLC received unanimous approval from the South Carolina State Ports Authority to purchase the Port of Port Royal site for $15.42 million.
Good....So Far! When might this be approved & If & when that happens: 1) What are they planning to do? ie: Mostly Resedential Homes ... Condos...Apts? 2) When will they start & What could it mean to Port Royal Residents? Lower tax rates or at least less Rate increase, possibly more/bigger businesses near downtown Port Royal etc....Just wondering.
Good....So Far! When might this be approved & If & when that happens: 1) What are they planning to do? ie: Mostly Resedential Homes ... Condos...Apts? 2) When will they start & What could it mean to Port Royal Residents? Lower tax rates or at least less Rate increase, possibly more/bigger businesses near downtown Port Royal etc....Just wondering.
The offer goes before the South Carolina Budget and Control Board for review and approval before the South Carolina State Ports Authority can issue the contract. Palmetto Alliance Realty Group would have 120 days to perform due diligence, then 30 days to close on the property.
The Port of Port Royal site is an opportunity for the Town of Port Royal to be a destination. Ideas should be conjured through public meetings and workshops to develop a site use plan.
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Port of Port Royal Sale Terminated
