Release Date: March 5, 2013
Stephen G. Riley, ICMA-CM , Town Manager, (843)341-4700
The Town of Hilton Head Island today announced the acquisition of three tracts of land totaling 113.22 acres for a total of $5,635,000.00.
Planter's Row Golf Course Tract:
The Town will acquire a large tract of land totaling 102.73 acres from Heritage Golf Group. The property, a large portion of Planter's Row Golf Course (holes 2 through 16), is located on William Hilton Parkway (1,494 feet of frontage) between Dillon Road and Union Cemetery Road. The Town will pay $5,000,000 for this tract of land. The purchase of this property offers a tremendous opportunity to the Town both in the strategic importance this property can play for the future and an outstanding land value. This is the first significant size tract of land the Town has acquired since it bought Honey Horn in the 1990s. Other previous Town purchases of this scale have been the Crossings and Chaplin tracts. This purchase will offer the Town opportunities to meet community needs in the future that can only be addressed by larger tracts of land. The property will be acquired with General Obligation Referendum Bond Proceeds.
"This is an incredible opportunity," Mayor Drew Laughlin declared. “It is the largest single parcel the Town has ever acquired, and it a beautiful piece of property, in the heart of the Island, offering a lot of potential to meet the future needs of the Island.
"I have often said that the Land Acquisition Program is one of the most important efforts the Town has ever undertaken," Mayor Laughlin noted. "I believe that this purchase, over time and with careful and thoughtful planning, will prove to be the crown jewel of our properties."
"We will lease the property back to Heritage Golf Group for a minimum of two years for continued use as a golf course. With the looming expiration of the TIF District, the Town needs to focus its efforts on the Coligny and Chaplin area plans at this time," Town Manager Steve Riley stated. "The important work of planning the future of this new purchase will follow the Coligny & Chaplin planning processes."
Boys and Girls Club Tract/Atlas SC I SPE, LLC:
The Town will acquire 10 acres located off Gumtree Road from Atlas SC I SPE, LLC (an asset holding company for BB&T). The parcel is located behind the current site of Boys and Girls Club and is adjacent to other Town-owned property acquired in 1998 from the Malphrus Family. The Town will pay $250,000 for this parcel, and the 10 acres will be acquired with funds from the Town's Resale of Property Fund.
Steve Riley stated, "This acquisition will provide an opportunity for the Town to partner with the Boys and Club to provide additional recreational facilities for the benefit of both the Club and the community as a whole."
TP Development/Pope Avenue Parcel:
The Town will acquire .49 acres on Pope Avenue from TP Development. The parcel is an undeveloped parcel located adjacent to Heritage Plaza in the Coligny area, and has 100 feet of frontage along Pope Avenue. The Town will pay $385,000 for this parcel using proceeds from Tax Increment Financing.
"This property is important in implementing the Town's plan for the Coligny area," noted Steve Riley.
Today's acquisition pushed the program inventory to 141 parcels totaling 1,317.97 acres, with a total expenditure of $168 million. Taken together, these parcels have resulted in a reduction of 4.56 million square feet of commercial development, 1,365 motel rooms, 4,637 multi-family and timeshare units, and the preclusion of 43,040 PM peak-hour driving trips.