MYRTLE BEACH, SC (WMBF) - Developers are currently working to obtain funding for a new attraction that could bring a large group of tourists to the Grand Strand in the future.
Realtor Marvin Heyd says the owner of Pan Asian Culture and Entertainment Inc. (PACE) is looking to acquire between $1 and $2 billion in investments in Bank of America and Wells Fargo accounts.
Those investments, PACE owner Ken Choi hopes, will be able to funds more than one project including Asian Wonderland, a cultural attraction that will include a yearly festival of lights.
Possible investors Heyd mentioned include Koin International Company in Korea, Mr. Kwon (GL Enterprises), the South Korean Government, Hyundai Motors, Samsung, and Panasonic among others.
Heyd says the Las Vegas area is also interested in this attraction, as more Asian tourists and Asian Americans are expected to look to the Grand Strand area as a vacation destination in the future.
PACE searched the nation over for possible locations for this destination before looking to Myrtle Beach. Heyd believes the site of the old Myrtle Square Mall would be a great location if Burroughs and Chapin would consider selling it.
The other location they have in mind is behind the Myrtle Beach Convention Center, which is part owned by Burroughs & Chapin and the City and Myrtle Beach.
The developers are not considering the location of Freestyle Music Park. Once funding is in place, the realtor says he'll present offers to Burroughs & Chapin and the City of Myrtle Beach. They hope to have that funding in place in a few weeks.