Palmetto Bay Marina owners give timeline for rebuilding after Hurricane Matthew

Palmetto Bay Marina on Hilton Head Island was destroyed by Hurricane Matthew in October, and little movement to replace the boat docks has been seen since.

The marina’s owners, though, say this is about to change.

Work on installing the docks could start in the fall, said Aaron Wernli, co-owner of The Pelorus Group, which owns the marina.

“We are wrapping up design ... and engineering with the new dock builders as we speak,” Wernli said via email. “They will start building them as soon as they are finished with that process.”

The Pelorus Group also owns Melrose Resort on Daufuskie Island and recently declared bankruptcy.

A U.S. Securities and Exchange Commission investigation is also looking into allegations that The Pelorus Group is connected to a “Ponzi-like scheme,” an accusation that The Pelorus Group has denied through its lawyers.

The Pelorus Group purchased the marina for $10.5 million in March 2016, according to deed records. It purchased the marina from Cross Island Associates, owned by Doug James.

James was found dead from an apparent suicide last month. At the time of his death, he was the defendant in numerous ongoing legal battles, many involving the marina property.

This story was originally published June 7, 2017 at 2:00 PM with the headline "Palmetto Bay Marina owners give timeline for rebuilding after Hurricane Matthew."