Myrtle Beach City Council has given early approval to a proposed surf park near Broadway at the Beach, advancing a plan that would bring a 5.5-acre artificial lagoon to 21st Avenue.<\/p>\n
Tourism really is our lifeblood at the end of the day,” said Mayor Mark Kruea, in support of the project.<\/p>\n
The council approved the first reading of an ordinance for the proposed $150 million hospitality and tourism development — funded in large part by private equity investment.<\/p>\n
The plan includes $20 million in city incentives, money the city would be willing to pledge toward completion of the project; however, they would only shell that money out once the project reaches 80% completion.<\/p>\n
If the project doesn’t come into existence, we don’t have any money on the hook,” said Kruea.<\/p>\n
A third-party fiscal analysis estimates the development would generate about $3 million in annual revenue for the city of Myrtle Beach, $2.6 million for Horry County and $9 million for the state of South Carolina. The builders are calling it a multi-county business proposal.<\/p>\n
The city-ordered analysis appraised the project to bring in 364,000 annual visitors, cost $50 million in onsite spending, and $12.5 million in additional annual offsite spending.<\/p>\n
While it is a significant investment, the potential returns are great for the community,” said Kruea.<\/p>\n
If ultimately approved, the park is slated to open March 1, 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"Myrtle Beach City Council has given early approval to a proposed surf park near Broadway at the Beach,…\n","protected":false},"author":2,"featured_media":283167,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[128,130,129],"class_list":["post-283166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-reading","tag-reading-city","tag-reading-city-headlines","tag-reading-city-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/283166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=283166"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/283166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/283167"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=283166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=283166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=283166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}