Los Angeles actor joins effort to buy Port of Port Royal
A Los Angeles-based actor and producer hopes he can make a go of developing the former Port of Port Royal.
Matt Battaglia, who co-produced the movie "Brothers" and most recently appeared in several episodes of the second season of the HBO show "True Detective," is also a real estate investor.
He is a member of Palmetto Alliance Property Group LLC, which is under contract to buy the port site for $15.42 million.
Battaglia said the developers plan homes, apartments, condos and stores on the 317-acre property, a little more than 50 of those acres are on high ground and buildable.
They also plan to make full use of the 225-slip marina allowed under the planned unit development, he said.
Battaglia said he visited Port Royal from Los Angeles about a month ago, walked the waterfront at sunset and has thought about buying a second home here.
"There's so much right there, given what's available with regards to development opportunities," said Battaglia "I just think this could be a little slice of heaven."
Palmetto Alliance representatives have met with Port Royal town manager Van Willis twice since the S.C. State Ports Authority accepted the group's offer last month.
Willis said the potential buyers have 120 days for due diligence, which lasts through October, with closing in November. The sale must close by the end of the year or the property will be transferred to the state's General Services Division to be auctioned, per state law passed last year.
"They have a tight window for due diligence, so we have a lot to do in a very short period of time," Willis said in an email last week.
Developer Steve McNair, a Charlotte resident who works out of Columbia, registered the Palmetto Alliance name June 8, according to state records. McNair talked with Willis last week on a conference call, and his brother, Larry, has met with town officials while assisting the group.
Attempts to reach Steve McNair last week through his attorney, Ken Ormand, were unsuccessful.
Ormand declined comment on the property group and terms of the contract. Ormand registered Palmetto Alliance Property Group on June 15, state records show, two days before the Ports Authority board voted to accept the offer.
The development agreement between the town and the Ports Authority allows for a maximum of 425 homes and 250,000 square feet of commercial space. The agreement also calls for the developer to improve two of the town's parks and transfer them to the town, and for the drystack marina facility to be removed.
Amendments to the development agreement would require Town Council approval. Changes to the planned unit development would have to be reviewed by the Metropolitan Planning Commission and approved by council.
A tax increment financing district is in place to pay for capital improvements related to the development, including roads, sidewalks, stormwater, parks and a waterfront promenade. Such districts allow municipalities to use property taxes to spur revitalization in blighted areas.
The sale requires approval by the S.C. Budget and Control Board. Ports Authority spokeswoman Erin Dhand said a date hasn't been set for the board's review.
Willis said the town has become "more and more cautiously optimistic" with each contract. Recent history, though, has included only disappointment for those wanting to see the area developed.
Four different developers have tried unsuccessfully to buy the property for residential and commercial development since 2006. The most recent attempt, from the Furman Co., fell through in April.
"I'm very optimistic about what we can get accomplished to get this to closing, given the days we have left and the people we have spoken to," Battaglia said. "...We have a plan, and we're trying to see which exact route to go."
Follow reporter Stephen Fastenau at twitter.com/IPBG_Stephen.
This story was originally published July 2, 2015 at 6:26 PM with the headline "Los Angeles actor joins effort to buy Port of Port Royal."