Archive for Port Royal

Sep
13

Port of Port Royal Back on the Market

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For the third time since 2006, an attempt by developers to buy the Port of Port Royal property has fallen through. Port Royal Town Council learned Wednesday that the Port Royal Redevelopment Group had been unable to secure financing for the $17-million purchase.

The lengthy process to purchase the land will now start over again. The South Carolina Ports Authority released a statement Wednesday saying it will work with the town to “ensure a quick turnaround and sale.” “The property will be immediately prepared for re-marketing, and an updated appraisal will be performed in view of several positive changes on the site that have occurred over the past two years,” a Ports Authority statement said.

Town Council met in executive session after its regular meeting to discuss the implications of the failed purchase.

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Categories : Beaufort
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