City of Myrtle Beach authorizes purchase of six more parcels to redevelop downtown

MYRTLE BEACH, S.C. (WMBF) – The city of Myrtle Beach is buying up more pieces of land to help restore the downtown area.

During Tuesday’s city council meeting, councilmembers voted in favor of authorizing the purchase of six parcels of land for the Oceanfront Redevelopment Project.

The parcels of land are located in the following areas:

• 702 North Kings Highway
• 701 – 703 Chester Street (Doyle Apartments)
• 316 7th Avenue North
• 309 8th Avenue North
• 707 Flagg Street
• 709 Flagg Street

The city will acquire the North Kings Highway property for $1,750,000 while the city plans to spend no more than $8.2 million on the five other properties.

It was noted in the brief for one of the resolutions that the tenant at 709 Flagg Street has elected to execute his first refusal to plan to buy the parcel. The resolution states that if he does not close, then the city would ask for authorization to finalize the acquisition of the parcel.

RELATED COVERAGE:

• Myrtle Beach City Council authorizes purchase of more land for Oceanfront Redevelopment Project
• Crews demolish Sea Nymph Motel as part of Oceanfront Redevelopment Project
• Crews begin demolition on former Fountainbleau Inn to make way for redevelopment project

The parcels that the city is buying are located in the Tax Increment Financing (TIF) District and “strategically located for future redevelopment.” The TIF District is an area where new taxes generated are reinvested back into that district.

The goal of the Oceanfront Redevelopment Project is to restore downtown to a prominent commercial district and clean up certain properties.

As part of the project, crews have already demolished the Fountainbleau Inn and the Sea Nymph Motel.

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