Developer to buy former Georgetown, SC, paper mill. What comes next?

A former Georgetown paper mill is set to take on new life after a New Jersey-based developer agreed to buy the property.

International Paper Company shut down its pulp mill in 2024, laying off nearly 700 employees. This year, the company moved to lay off 126 more employees and close its Georgetown container plant.

“International Paper closed its pulp mill in 2024, and has recently announced it will close the Georgetown container plant. International Paper’s Georgetown, SC facility has been a valuable part of the company for a number of years,” a company spokesperson said. “We will assist employees and customers through this transition.”

Now, the paper mill could be revitalized after New Jersey real estate company River Development Equities announced plans to acquire the South Carolina property.

With more than four decades of experience in redevelopment, River Development Equities primarily works in the northeast but lists one South Carolina project for a municipal complex in Hardeeville. In addition to specialty industrial properties, the developer has completed residential and mixed-use projects.

What River Development Equities envisions for the property

According to a release, the company envisions redeveloping the former paper mill into one such mixed-use development to match Georgetown’s historic district. The project will incorporate commercial, hospitality, industrial and residential uses, but it’s unclear what, specifically, is planned.

Although potential employment numbers haven’t been announced, River Development Equities anticipates the project will bring in new businesses and create employment opportunities in the Georgetown area.

In addition to partnering with local businesses and organizations, the company promised to listen to locals with regular public meetings and a community advisory council.