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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