Land development plan aims to get Patriots Point out of hot water (update: plan moves ahead)

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Update December 20: The Charleston Regional Business Journal has yet another update stating that the board voted 8-1 in favor of selling off pieces of land to developers, rather than offering only long-term leases as it has in the past.

Update December 17: In an effort to generate much needed revenue, the Patriots Point board has decided to move ahead and consider allowing residential development on parts of the 367 acres of undeveloped land along the Cooper River. The Post and Courier has the update; read it here.

Update August 18: The Post and Courier has updated their original post and attached an illustrated concept for the Patriots Point harborfront; see it here.

First reporting: A team of consultants working with the Patriots Point Naval and Maritime Museum have unveiled a vision for turning the 360 acres into a mixed-use community.

Patriots Point has been struggling to stay afloat after borrowing $9.2 million from the state last year in an effort to save the aging warship the USS Laffey. Without adequate funding to return the ship to Patriots Point, they're shelling out a cool $11,250 per month to keep it docked in North Charleston.

To make ends meet, the idea unveiled today focuses on selling and leasing portions of the land surrounding the museum to pull in a solid revenue. According to the Charleston Regional Business Journal:

The master plan calls for 2,000 to 3,000 residential units, a waterfront hotel that’s more upscale than those now in Mount Pleasant, office development, retail space in a “town center” style, parking garages, public access to the waterfront, and a gridded street network.

Jump over to the article in the Charleston Regional Business Journal for the breaking news.

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