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176 Concord Street, P.O. Box 22287, Charleston, SC 29413-2287
Contact: Erin Dhand, Manager, Corporate Communications and Community Affairs
Telephone: 843-577-8121 • Fax: 843-577-8127 • e-mail: EDhand@scspa.com


FOR IMMEDIATE RELEASE
12/22/2006

Port Royal Waterfront Offered for Sale

Charleston, SC The South Carolina State Ports Authority today offered for sale more than 50 acres of waterfront property in the Town of Port Royal near Beaufort. The property is zoned for redevelopment in commercial, residential and public uses and the sale could close as soon as June of next year.

The property offer is divided into three distinct areas: Bluff Neighborhood Tract (18.09 acres); Marina Village Tract (2.48 acres); and the Port Village Tract (30 acres). Interested bidders may offer to buy any one or more of the individual tracts and also may offer a single bid for all three parcels combined.

The Bluff Neighborhood Tract runs from Ribaut Road to just above 12th Street. The Marina Village Tract includes Dockside Restaurant and goes from 12th to 10th Streets. The Port Village Tract is the largest parcel, extending from 10th Street to the existing Port of Port Royal marine terminal.

Proposals are due to the Ports Authority by 5 p.m. on March 30. The detailed Request for Proposals (RFP) is divided into two separate parts, a Request for Qualifications and a Request for Bids. Only once proposals are deemed qualified, based on the respondents' experience, financial capabilities and other considerations, will the bids be considered.

The Ports Authority initially posted the RFP on its web site today and will soon begin a local, regional and national advertising campaign to attract potential buyers. To show the site, the Ports Authority will offer four tours to prospective buyers starting in January.

The ultimate buyer or buyers, as well as the Town of Port Royal and the Ports Authority, will benefit from a specific and guided redevelopment. The Town and the Ports Authority spent several months working through extensive planning that resulted in zoning the property as a Planned Unit Development (PUD) and the finalization of a Development Agreement. The RFP includes copies of both documents.

Release of the RFP culminates a long process that began on July 17, 2003. At a public budget meeting, Gov. Mark Sanford supported the concept of redeveloping the Port of Port Royal. This effort was codified in 2004 by the General Assembly under the leadership of Beaufort area legislators.

The Ports Authority began land assessment and initial market survey work later that year and contracted for land planning services in February 2005. Between March and November of this year, the Town and the Ports Authority worked through various issues resulting in the Development Agreement and the PUD.

The RFP is available on-line at:

http://www.scspa.com/business/legal_notices/default_LN.asp?LegalNotice=37