Patriots Point to lease 50 acres of waterfront property
MOUNT PLEASANT, S.C. (WCIV) -- The Patriots Point Development Authority is seeking proposals for 50 acres of property along the waterfront of Charleston Harbor.
Officials at Patriots Point said the land can be leased for up to 99 years, and officials are entertaining offers to build hotels, restaurants, retail shops, conference centers, rental offices, institutional and cultural activities, entertainment venues and public access facilities and amenities.
Residential and industrial properties are not permitted, however, due to Mount Pleasant's zoning ordinances.
"Patriots Point is fortunate to own a considerable amount of real estate on Charleston Harbor. As we move forward with plans and restore the historic aircraft carrier USS Yorktown, revenue generated from the long term lease of this acreage will be instrumental in completing restoration. This may cost as much as $80 million," said Mac Burdette, Executive Director of Patriots Point.
"The PPDA Board has been diligent in insuring that only the best plan be selected for the development of our most prized property. Last year the PPDA Board approved a $1 per year lease to the Medal of Honor Museum Foundation for the construction of a $100 million Medal of Honor Museum at Patriots Point."
All proposals must be submitted to the office of SC Budget and Control Board in Columbia by 5 p.m. on July 25.