To be or not to be? Fate of Superblock properties comes down to this

The City of Myrtle Beach is deciding whether to purchase three Superblock properties to make room for a new performing arts center and classroom space for Coastal Carolina University.

The idea was first proposed in January after CCU representatives expressed interest in the properties — 807, 809 and 811 U.S. 501. The Superblock has been subject to a number of potential projects, including a children’s museum and library.

On Tuesday, city council members will decide if they want to spend $1 million to purchase the properties and another $5.6 million to remodel the buildings — putting city officials in the landlord’s seat.

In the first five years, CCU will not be required to pay rent. After Year 5, the college will pay $95,000 per year.

If they move forward with the purchase, the city will take out a $5.1 million loan to pay for the properties, and use $500,000 from an amended Santee Cooper franchise agreement

The Myrtle Beach Downtown Redevelopment Corporation will contribute about $1 million to aid in the purchase and remodel of the buildings.

If city council votes to purchase the properties, the DRC will make its decision Wednesday. Then the CCU Board of Trustees will make the final vote on Thursday on whether or not to enter into a partnership with the city and move their theater from 79th Avenue closer into the heart of Myrtle Beach.

If the vote moves forward, the city will be responsible for repairing the buildings, fixing any issues with mechanical systems and repairing the roof, if necessary.

The city will be able to host 30 productions at the performing arts center per year, as long as times do not conflict with CCU performance.

Tuesday’s city council meeting will start at 9 a.m. in council chambers in the Oak Street police station. Council will move to the Myrtle Beach Sports Center to talk about the Superblock properties and to meet with the city’s downtown consultants.

Megan Tomasic, 843-626-0343, @MeganTomasic

This story was originally published November 12, 2018 at 12:24 PM.