Release Date: May 18, 2010
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 two parcels of land from the Matthew and Teena Jones Family, L.L.C. for a total expenditure of $4,000,000.00. The Town will use proceeds from the Town's 2010 Bond.
One parcel is located in the Stoney Community between U. S. 278 and Squire Pope Road, and has 470 linear feet of frontage on William Hilton Parkway and 370 linear feet of frontage on Squire Pope Road. The second parcel is also located in the Stoney Community between U. S. 278 and the marshes of Jarvis Creek and has 480 linear feet of frontage on both William Hilton Parkway along Jarvis Creek. Both parcels are occupied by homes and mobile homes. The Seller has agreed that the property will be vacant prior to the closing of the acquisition.
Town Manager Steve Riley stated that "With its marsh frontage, proximity to other Town-owned land and location on the critical U. S. 278/Squire Pope Road intersection, it is a strategic acquisition. Stoney is an area where our traffic engineers have suggested that land buying can have a very big impact on minimizing future traffic impacts. We will continue to look for opportunities to work with willing landowners."
Mayor Peeples added, "We have been looking at this parcel for some time. We are now better positioned to add an acceleration lane from Squire Pope Road, and even to widen US278 in this segment should that ever become necessary. The Stoney Plan envisioned some type of island entry statement that might be accommodated on this site. This purchase also furthers the Town's goal of restoring property to open space, especially in critical areas such as the marshes of Jarvis Creek."
These two parcels are SMU, Stoney Mixed Use District, which would have allowed 40,529 square feet of commercial development, generating 1,403 PM peak-hour driving trips.
Today's acquisition pushed the program inventory to 137 parcels totaling 1,183.91 acres, with a total expenditure of $156 million. Taken together, these parcels have resulted in a reduction of 4.43 million square feet of commercial development, 1,365 motel rooms, 4,467 residential and timeshare units, and the preclusion of 38,919 PM peak-hour driving trips.