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Thread: Developers buy 20,000 acres

  1. #1
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    Default Developers buy 20,000 acres

    Developers purchase sprawling 20,000-acre Palmetto Bluff, Bluffton’s largest property

    BY KACEN BAYLESS
    JUNE 10, 2021 12:39 PM, UPDATED JUNE 10, 2021 12:51 PM

    The 20,000-acre Palmetto Bluff property in Bluffton, known as a celebrity magnet for its luxury resort, changed hands Wednesday.

    A Charleston- and Charlotte-based development company, together with a private equity firm, purchased the 20,000-acre property.

    South Street Partners, the owner of the company that developed Kiawah Island, and Henderson Park Capital Partners, a London-based private equity real estate company, closed on the sprawling property along the banks of the May River, according to a news release and a spokesperson.

    The terms and details of the purchase were not available Thursday, the spokesperson for South Street told The Island Packet and Beaufort Gazette. Montage Palmetto Bluff spokesperson Christine Wrobel did not immediately return a call for comment Thursday.

    The expansive property, surrounded by 32 miles touching the May River, is the town of Bluffton’s largest development agreement. It’s also one of the town’s fastest growing neighborhoods, with 971 new residential building permits approved over the last 10 years.

    The Palmetto Bluff community is also known for its luxury Montage Palmetto Bluff resort. In 2018, Forbes named the resort one of “5 luxury resorts that might just save your marriage.” The resort recently caught national attention for hosting the weddings of pop star Justin Bieber in 2019 and projected No. 1 overall draft pick Trevor Lawrence this year.

    The Palmetto Bluff community is also known for its luxury Montage Palmetto Bluff resort. In 2018, Forbes named the resort one of “5 luxury resorts that might just save your marriage.” The resort recently caught national attention for hosting the weddings of pop star Justin Bieber in 2019 and projected No. 1 overall draft pick Trevor Lawrence this year.

    South Street Partner and Henderson Park plan to construct a second golf club at the property as part of a “comprehensive development plan,” a news release said. The companies will continue work on Anson Village, the fourth neighborhood located within Palmetto Bluff, which will open waterfront access, the release said.

    Crescent Communities, a Charlotte-based development company, purchased Palmetto Bluff in 2000.

    Since then, the property has grown to become the town of Bluffton’s largest tract, with space for 4,000 residential dwelling units and 180 acres of commercial development.

    In April, developers were focused on building the River Road neighborhood — a sprawling community of 330 homes along an inland waterway across from River Road Preserve.

    Tucked away in the gated community, River Road is adjacent to Palmetto Bluff’s two largest neighborhoods — Wilson Village and Moreland Village. The River Road neighborhood is already home to The Lodge, which opened in 2016 with a fitness center, playground, dog park and lounge area.

    The new owners, South Street Partners, own over $1.3 billion in assets under management, according to the release. In 2013, the company acquired Kiawah Partners, the master developer of Kiawah Island.

    https://www.islandpacket.com/news/bu...252023393.html

  2. #2
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    Shame
    Quote Originally Posted by Chessbay View Post
    Literally translated to, "I smell like Scotch and Kodiak".
    "Let us cross over the river, and rest under the shade of the trees"- Gen. Thomas "Stonewall" Jackson

  3. #3
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    Really is.
    Gettin old is for pussies! AND MY NEW TRUE people say like Capt. Tom >>>>>>>>>/
    "Wow, often imitated but never duplicated. No one can do it like the master. My hat is off to you DRDUCK!"

  4. #4
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    Maybe Bluffton can now hire two more cops for their speed trap.


    Sent from my moto z4 using Tapatalk

  5. #5
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    I hate to see this.

  6. #6
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    What am I missing here? One developer sold a partially developed piece of property to another developer?
    Quote Originally Posted by ecu1984 View Post
    Steelin' Ducks is the KRT of suppressors and such.

  7. #7
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    Damn DT missed his opportunity to preserve some more property.

  8. #8
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    Quote Originally Posted by Steelin' Ducks View Post
    What am I missing here? One developer sold a partially developed piece of property to another developer?
    Research Crescent Resources, them and previous owners Duke Energy could make SCANA blush.

    It is what it is, we have been 1st-3rd tier suppliers on many of Crescent projects. We have leased land from them, all properties taken under public domain for hydro power.

  9. #9
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    Growing up in Beaufort, I’m just glad I was able to see and experience Palmetto Bluff before there was the first paved road or new construction home on the place. It was a unicorn.


    Sent from my iPhone using Tapatalk

  10. #10
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    Would you have rather seen BlackRock or another Chinese REIT buy it?

  11. #11
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    You know it will be extremely nice with these guys at least...

  12. #12
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    Quote Originally Posted by Bigtimber2 View Post
    Research Crescent Resources, them and previous owners Duke Energy could make SCANA blush.

    It is what it is, we have been 1st-3rd tier suppliers on many of Crescent projects. We have leased land from them, all properties taken under public domain for hydro power.
    He has a valid point

  13. #13
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    Didn't Crescent paid something like 25million for a track they ended up selling the State for 1/3 of that up on Wateree.
    Quote Originally Posted by walt4dun View Post
    Monsters... Be damned if I'd ever be taken alive by the likes of faggot musslims.
    Quote Originally Posted by 2thDoc View Post
    I am an equal opportunity hater.

  14. #14
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    Greenwood Development actually sold that.. they were trying to turn it into a stupid fancy development.

  15. #15
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    I used to ski the waters in front of the Bluff cause it was always calm..... Now some Yankee will wave at you to slow down.
    I used to catch sheepshead under the Bluff dock, hoping I'd be as good at it as Mr Bill, but never was.
    Now there are several docks and restaurants, spas... I could go on....
    Last edited by Calibogue; 06-12-2021 at 09:55 PM.
    \"I never saw a wild thing feel sorry for itself. A small bird will drop dead frozen from a bough without ever having felt sorry for itself.\" <br />D.H. LAWRENCE

  16. #16
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    And, there is likely 32 total miles of marsh front but only a few on the May.
    \"I never saw a wild thing feel sorry for itself. A small bird will drop dead frozen from a bough without ever having felt sorry for itself.\" <br />D.H. LAWRENCE

  17. #17
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    Yep. She’s all done, Scott.

  18. #18
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    Quote Originally Posted by Calibogue View Post
    I used to ski the waters in front of the Bluff cause it was always calm..... Now some Yankee will wave at you to slow down.
    I used to catch sheepshead under the Bluff dock, hoping I'd be as good at it as Mr Bill, but never was.
    Now there are several docks and restaurants, spas... I could go on....
    Please continue to ski and try to spray them as they attempt to get you to slow down. At the very least, launch some water balloons at them.

  19. #19
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    Quote Originally Posted by Calibogue View Post
    I used to ski the waters in front of the Bluff cause it was always calm..... Now some Yankee will wave at you to slow down.
    I used to catch sheepshead under the Bluff dock, hoping I'd be as good at it as Mr Bill, but never was.
    Now there are several docks and restaurants, spas... I could go on....
    Bill M?

  20. #20
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    I've known him my whole life....
    \"I never saw a wild thing feel sorry for itself. A small bird will drop dead frozen from a bough without ever having felt sorry for itself.\" <br />D.H. LAWRENCE

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