Cash News
Empty lots and buildings in the Market Common neighborhood in Myrtle Beach might be getting a makeover.
A building that was declared abandoned by Myrtle Beach City Council in 2022 on Shine Avenue could one day be home to an indoor pickle ball court.
But first, the owners are looking to pass a city council ordinance that would allow them to move forward with securing abandoned tax credits for the redevelopment project.
South Carolina is currently the only state in the country to offer abandoned building tax credits to developers.
Last week, South Carolina Governor Henry McMaster signed a new bill into law that extends the use of the Abandoned Buildings Tax Credit through 2035 and increased the maximum tax credit per year from $500,000 to $700,000, a release from his office said.
“Tax credits and tax cuts are among the most effective economic development tools we have as a state,” McMaster said in a press release. “By providing this tax credit, we encourage developers, business owners, and entrepreneurs to breathe new life into once-neglected properties. This will have a ripple effect in the areas around them, preserving our history, creating new jobs, and helping to bring even more pride to our communities.”
Walking around the 1051 Shine Avenue property now, there’s overgrown flora and fauna, with weeds emerging from cracked asphalt in the parking lot.
There’s a sign out front for a commercial real estate agent saying the space is available. The phone number listed underneath the advertisement has been disconnected, and is no longer in service.
Across the street is the home of the Pittsburgh Institute of Aeronautics and to the left of the structure is a small office park style building that’s home to counseling services, a beauty salon and an insurance salesman.
The building was first declared abandoned by city council two years ago.
In order to move forward with the project, Myrtle Beach’s assistant city manager, Brian Tucker, said at the most recent city council meeting that the council would need to pass an amended version of the ordinance, Resolution R2024-20, that included the taxpayer for the project.
“Everything else still remains the same,” he said.
The resolution states that the applicant would have two opportunities to take advantage of the tax credit: through a property tax credit or an income tax credit.
At the meeting, Tucker said the abandoned building’s next door neighbor, Tidal Creek Brew House, is affiliated with the applicant of this new project.
“They want to have a pickle ball facility here,” he said. “They’re still working through the preliminary plans.”
The resolution for the tax credits passed unanimously at Tuesday’s city council meeting with no questions or discussion from city officials, elected council members or the public.
This vote came after the council moved plans for a dog park bar to the next round.
The same tax credits are also currently being utilized by the City of Myrtle Beach to build a new theater downtown.