Release Date: October 2, 2012
Stephen G. Riley, ICMA-CM , Town Manager, (843)341-4700, Fax: (843)842-7728
The Town of Hilton Head Island today announced the acquisition of an additional parcel of land from Greenburg King Associates, LLC totaling .364 acres for a total expenditure of $200,000.00. The parcel is located on William Hilton Parkway near Folly Field Road, is adjacent to a portion of the Town's Driessen Family Beach Park property, and has 135 feet of frontage along William Hilton Parkway. The property has a vacant office building, the former site of RBC Real Estate Office. The Town will use proceeds from the Town's 2010 Bond Issue.
The .364 acres is zoned RD, Resort Development District, which would have allowed 2,911 square feet of commercial development, generating 100 PM peak-hour driving trips.
Town Manager Steve Riley stated, "The Town plans on demolishing the vacant, older building, cleaning up the property, and closing an existing curb cut on William Hilton Parkway."
Mayor Drew Laughlin added, "This represents part of the evolution of our land buying program: acquiring an outdated property and cleaning up and improving the safety of a very busy intersection."
Today's acquisition increased the land acquisition program inventory to 136 parcels totaling 1,203.23 acres, with a total expenditure of $162.3 million. Taken together, these parcels have resulted in a reduction of 4.54 million square feet of commercial development, 1,365 motel rooms, 4,597 residential and timeshare units, and the preclusion of 42,396 PM peak-hour driving trips.