Property Listing No Longer Available for Sale

I-95 & Hwy 17, Hardeeville, SC

Land for Sale - $4,400,000 - 220 acres


Property Info

CIMLS#961692
Location
  I-95 & Hwy 17
  Hardeeville SC 29927
UpdatedFebruary 16th, 2018
TypeLand
Price$4,400,000
Land220 acres

Property Description

Gateway Crossing is a 220-acre mixed-use development in Hardeeville, South Carolina. The property is located at exit 5 of I-95 and bordered by Highway 17 to Savannah and Main Street/Route 46 to Bluffton and Hilton Head. The project is fully entitled, and has strong community support. Wetland permits are active and valid through 2019. The project is virtually shovel-ready.

The property is fully entitled for 704 single family homes, 435 multifamily units, and 412,350 square feet of commercial zoning in the 2003 PUD. The housing is exempt from current impact fees of $6,500 per door because the PUD was approved before imposition of fees; commercial development fees also are reduced. The wetlands have been delineated, and active USACE permits are valid through 2019.

Gateway Crossing is planned to be a walkable community offering a variety of affordably-priced housing products, from multifamily rentals to single family homes for sale, with recreation facilities, business/internet center, parks and paths, and over 80 acres of lakes and open space. When built out, Gateway Crossing would include a grocery, bank, pharmacy, hardware/homeware store, health center, restaurants, local retailers, small businesses, and a Continuing Care Retirement Center or Nursing Home.

The project has tax benefits and financing options. The City of Hardeeville supports Tax Increment Financing (TIF) for construction of infrastructure and reimbursement of development costs. The commercial development would qualify for New Market Tax Credits. A portion of the housing could be tax credit units.

Gateway Crossing has conducted the requisite studies, prepared the plans, and obtained necessary approvals.

Plans


Financials