Exclusive: Potential deal in works for lease of multi-million dollar Horry County marine park

Adam Benson
·3 min read

A marine industrial park hugging the Waccamaw River in Horry County’s Bucksport community may have a suitor after years of work by officials to secure long-term investment at the site.

Grand Strand Water and Sewer Authority CEO Christy Everett told The Sun News Aug. 2 board members later this month are likely to to discuss in private a development plan for the nearly 200-acre property, with public talks and a possible vote to follow in September should an offer prove viable.

“We recognize the challenges that we’ve had, but we’re certainly hopeful to create a project that’s going to be beneficial to the community,” Everett said.

In 2013, Grand Strand Water & Sewer began seeking permits to build the industrial park in Bucksport. A public hearing for those permits was held in 2014.

The project won state permits in 2016 and federal permits in 2017.

Upgrades to the marina included dredging 40,000 cubic yards of material from the Waccamaw River; installing lift wells that can lift 100 tons and 300 tons, respectively; constructing a new pier and a new bulkhead for large boats.

Both the Army Corps of Engineers and the S.C. Department of Health and Environmental control have signed off on the venture, granting a 10-year permit for construction and operation in 2017.

Grand Strand Water & Sewer has spent nearly $11 million to date on purchasing the land and building the industrial park infrastructure.

In May, Florida-based Leisure Investment Properties Group developed a bid package for the authority-owned property, setting a July 15 deadline for responses.

Everett said officials received one application, but declined to offer further details citing contractual negotiations.

Leisure Investment Group executives didn’t immediately respond to text messages and phone calls seeking more information, but an executive summary makes clear the project’s scope.

“The GSWSA is looking for a Proposer that has experience in marina and/or campground development, financial capabilities to successfully complete the development, and has a long-term operating business plan,” bid documents state. “ The GSWSA intends to enter into a 25-year lease agreement with the selected Proposer for the redevelopment and operation of the marina.”

The existing property boasts several amenities, including:

  • 21 long-term wet slips

  • 700 feet of linear dockage for transient boaters

  • 10 transient slips

  • 16 full-service RV sites, with 14 more under construction

  • 2-lane public boat ramp

  • A 100-ton travel lift well, with nine floating slips from 40 feet to 70 feet

  • 470 square-foot ships store with patio seating

  • Fuel dock with gas and diesel

  • Captain Buck’s Tiki Bar

  • 55-space vehicle and trailer parking lot.

  • Boardwalk along the Waccamaw River that connects Captain Buck’s with the ships store.

  • Restrooms and showers

  • Volleyball court

  • Water and sewer infrastructure on built areas of the park

  • A two-lane access road that connects to U.S. Highway 701

The county council has also taken an interest in the economic potential of a marine industrial park.

In 2018, members backed a resolution promising to reimburse Grand Strand Water and Sewer Authority, using up to $7.4 million from future industrial park revenues to pay the agency back for up-front infrastructure upgrades.

Sandy Davis, who leads the Myrtle Beach Regional Economic Development Corporation, said her agency will be looped in should the authority move forward with a development proposal.

For a region battered by powerful hurricanes and then a pandemic, recruiting maritime-based investment has been a struggle the past several years.

“That’s definitely been the vision for the property for the past 10 years or better. It would add a new dimension of economic diversity to the county,” Everett said.

In its 2023 marina market forecast, Leisure Investment Group predicted a strong outlook for the industry.

“With financially healthy marinas, increasing occupancy, and strong support for increasing slip/rack rates, we believe the asset class remains a great alternative investment for both private clients and larger, institutional investment companies,” analysts wrote in June.