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Well
Worth
theWait
Bennett Hospitalit y and
patriots point
P
atriots Pointwas in search of
a large and steady stream of income to
save its main attraction. Local developer
Michael Bennett was looking for another
place in or near his native Charleston
to build “beautiful buildings.” A lease
agreement that is expected to be
approved by the South Carolina
State Fiscal Accountability Authority sometime before the
end of this year will cover the needs of both.
Under the terms of the 99-year agreement, Bennett
Hospitality will lease 50 acres of land at Patriots Point.
Though the final plans require the approval of the
Patriots Point board of directors and the town of Mount
Pleasant, Bennett said he plans to build and operate
hotels, restaurants, office buildings, retail space and an
amphitheater on a “grand lawn.” He said the entire project
will cost in the neighborhood of $300 million.
By Brian Sherman
mPBm
www.mPBusinessmag.com|
www.mountPleasantmagazine.com|
www.readmPm.com