Release Date: March 4, 2014
Stephen G. Riley, CM , Town Manager, (843)341-4700, Fax: (843)342-7728
The Town of Hilton Head Island today announced the acquisition of a an additional parcel of land from Carolina Office Park, LLC n/k/a Glover Real Estate, LLC totaling 5.54 acres for a total expenditure of $1,675,000.00. The Town will use proceeds from Tax Increment Finance account.
The parcel is located along Office Park Road and is adjacent to other Town-owned property. The 5.54 acres is a commercial lot improved with two office buildings known as the Sapelo and Carolina buildings.
Town Manager Steve Riley stated, "This property will provide the Town with additional land necessary for a University of South Carolina Beaufort (USCB) facility in the Office Park Road area. The Town plans to demolish both the Sapelo and Carolina buildings to clear the land for the construction of the USCB project. This contract is contingent upon the Town being able to acquire the other necessary parcels in this area."
Today's acquisition pushed the program inventory to 143 parcels totaling 1,320.32 acres, with a total expenditure of $169.8 million.