Myrtle Beach City Council approved the first of two readings of an ordinance that would allow changes to public alleyways to accommodate construction of a $90 million Margaritaville resort near Ocean Boulevard and 17th Avenue North.
The second-row hotel would span more than 406,000 square feet and rise 18 stories, including a penthouse. The 296-room resort would feature ballroom and conference space, a restaurant and bar, and an oceanfront pool.
Under the proposal, the city would exchange certain alleyways with the developer and receive fair market value for others.
Council also proposed three additions to the agreement:
Sharing the cost with the developer to improve the Myrtle Beach Boardwalk from Plyler Park to 16th Avenue North
Creating a public parking lot on one of the exchanged properties
Adding public restrooms to a second-row lot, if infrastructure allows
The agreement and proposed additions still require approval on second reading before taking effect. A special-called City Council meeting for that vote is being planned for November.
Developers told City Council they hope to break ground in December, with construction expected to take approximately 24 months. Once operational, the resort is projected to generate more than $20 million in annual economic impact and create local jobs.
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