Real Estate News

Former Adventure Inn site to become $80M Hilton-brand timeshare

A Myrtle Beach developer plans to spend $80 million to turn the former Adventure Inn site into Hilton-brand timeshares.

Strand Capital Group will develop the 7-acre beachfront property on Hilton Head Island. It will be the Hilton brand's and Strand's first timeshare development on the island.

The South Forest Beach resort will feature two six-story buildings with a total of 125 two-bedroom units, according to plans submitted to the town last month. The companies behind the project and their construction schedule were announced this week.

Strand Capital bills itself as "the premier timeshare real estate development firm along the Carolina Coast." It has developed nearly 20 high-rise beachfront resorts in Myrtle Beach, according to its website.

Principal partner Patrick Lowe said the Hilton hotel chain's interest in the property is what brought his company to the island.

"They are expanding their brand presence in the Carolinas," he said. "I think they've always been interested in Hilton Head."

Hilton Grand Vacations, a division of Hilton Worldwide, will be responsible for sales, marketing and management of the resort, according to a news release.

A spokeswoman for the company said a name for the resort likely will be released this spring.

Hilton plans to begin selling timeshares in April, the release said.

Plans for the resort show an administration building, two pools, an outdoor bar and grill, fitness and business centers, a lawn with live oaks, and boardwalks that lead to the ocean.

Construction should start this spring and be completed in two phases.

The first phase includes the resort amenities and the building next to the Carolina Beach Club. It is expected to be finished by summer 2016, the release said.

The second phase includes the building next to Ocean Dunes Villas. No completion date was provided in the release.

The height of the buildings will rival the tallest oceanfront structures on Hilton Head.

Buildings at Sea Crest Villas, and Omni and Sonesta hotels also are 75 feet tall, or about six stories. That's the maximum height the town allows for beachfront properties, according to land-management ordinance official Teri Lewis.

The Adventure Inn, which was built in 1963 and demolished in 2008, was an island landmark and one of Hilton Head's three original hotels.

Follow reporter Dan Burley at twitter.com/IPBG_Dan.

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