Patriots Point Leases New Waterfront Property

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The Patriots Point Development Authority (PPDA) Board has published a Request for Proposals and Qualifications (RFP) for prospective tenant-developer respondents for approximately 50 acres of highland property in the Mt. Pleasant area owned by PPDA. Some of this available land is waterfront property on the Charleston Harbor.

The proposal is not for land ownership, but the land may be leased for up to 99 years. Hotels, restaurants, retail shops, conference centers, rental offices, institutional and cultural activities, entertainment venues and public access facilities and amenities are all permitted for this RFP. In contrast, family residential units, industrial facilities, and uses not in line with the Town of Mt. Pleasant’s zoning ordinances will not be permitted.

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“Patriots Point is fortunate to own a considerable amount of real estate on Charleston Harbor. As we move forward with plans and restore the historic aircraft carrier USS YORKTOWN, revenue generated from the long term lease of this acreage will be instrumental in completing restoration. This may cost as much as $80 million,” said Mac Burdette, Executive Director of Patriots Point. “The PPDA Board has been diligent in insuring that only the best plan be selected for the development of our most prized property. Last year the PPDA Board approved a $1 per year lease to the Medal of Honor Museum Foundation for the construction of a $100 million Medal of Honor Museum at Patriots Point.”

Specific plans and architectural elements are subject to approval by the Patriots Point Development Authority, as well as listed in the final lease. If potential investors wish to visit the site prior to the deadline for submitting the proposal, it may be scheduled through the South Carolina Budget and Control Board on May 16, 2014. Contact Scott Capell by May 9.

For a list of full requirements for submitting proposals and qualifications of respondents, please view the full RFP on the SC Budget and Control Board’s website. Also, note that rent will be determined by the market value, increases in the Consumer Price Index, and the length of lease.

All proposals must be submitted to the office of SC Budget and Control Board at 1200 Senate Street, Columbia, SC 29201, by July 25, 2014 at 5:00 pm. Any questions regarding this RFP must be to the attention of Scott Capell and not PPDA.

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