Georgetown, S.C. – Residents gathered at the Winyah Auditorium on Sept. 24 as River Development Equities’ principal, Warren Waters, addressed the status of the ambitious waterfront redevelopment that hinges on two historic sites: the former International Paper mill and the adjacent Liberty steel mill.
Paper mill sale stays on track
River Development Equities, a New Jersey‑based developer, announced in March that it would acquire more than 2,500 acres of International Paper land, including the 1937‑era paper mill that closed at the end of 2024, eliminating 674 jobs. The agreement, signed but undisclosed in price, also includes interest in the county’s 46‑acre port parcel.
Waters reiterated the company’s intent to attract manufacturing, assembly and technology employers to the site, promising regular public meetings, a community advisory council, and partnerships with local workforce groups. He also noted plans to locate the company’s South Carolina headquarters on the property.
Steel mill deal falls apart
In mid‑September, Liberty Steel announced that the sale of its 66‑acre steel mill site to River Development had been cancelled. Liberty cited a demand for an additional $5 million to extend the contract deadline, a sum the developer refused. State Rep. Lee Hewitt (R‑Murrells Inlet) explained that River Development sought a contract extension because the city had not yet approved its plans, while Liberty needed to close quickly to meet a July settlement with Santee Cooper requiring a $1.1 million payment by Oct. 30.
Liberty also faces a pending lawsuit from a Connecticut gas supplier for over $10 million in unpaid bills and a claim of nearly $1.6 million from a demolition contractor, adding pressure to secure a new buyer before the Oct. 30 deadline.
Implications for the waterfront vision
The original vision paired the paper mill site with a waterfront “Harbor Walk” of bars, restaurants and shops on the former steel mill grounds. With the steel mill deal now in jeopardy, the larger redevelopment loses a key component, though the paper mill portion remains active.
County planning officials noted that the paper mill site is heavily industrially zoned, meaning any non‑industrial use would require rezoning and a detailed conceptual plan—both still pending. The lack of a finalized plan underscores that the March announcement was a statement of intent rather than an approved project.
Local leaders’ reactions
County Council Chairman Clint Elliott called the paper mill purchase “the most significant urban redevelopment we’ll see in our lifetime.” Georgetown Mayor Jay Doyle said the city has assembled a small group of developers with adjacent inner‑harbor properties to ensure the projects fit together.
However, both officials acknowledged that without the steel mill component, the overall waterfront plan faces uncertainty. Waters described the situation as “the project is in jeopardy,” emphasizing the need for a new buyer for the steel mill site who can meet Liberty’s deadline.
What’s next?
The county’s planning director warned that any new buyer would have to “reset the clock” on environmental assessments already underway, potentially delaying progress further.
River Development’s spokesperson, Luke Byars, a Republican political consultant, said the company remains committed to the paper mill site and will continue to engage the community through the promised advisory council.
Stakeholders and residents are encouraged to attend upcoming public meetings to stay informed about the evolving redevelopment effort and to voice concerns about zoning, environmental cleanup and job creation.
Original reporting: MyrtleBeachSC News — read the source article.
