Why is Myrtle Beach buying property from the mayor’s investment company?
A real estate deal between a private company owned by the mayor and the city could yield a $650,000 transaction involving taxpayer funds.
A resolution for the City of Myrtle Beach to buy back the Jackson Street land from BJ Investments is on the city council’s agenda for their June 10 meeting.
Bethune’s online bio for Community Playmaker states that she “owns BJ Investments, a property investment, development and rental company.”
According to Horry County Land Records, in February 2017 BJ Investment LP,purchased land for $5 from the City of Myrtle Beach on Jackson Street. On that same date, land records show that the city purchased property from BJ Investment LP on 9th Avenue N also for $5.
When reached by phone on Monday morning, Bethune said she was on her way to a meeting at the time about this specific resolution and did not have time to answer questions.
Messages for council members who served on city council in 2017 at the time of the original property swap, Mike Lowder and Mike Chestnut, were also left on Monday.
According to the resolution, the city would purchase the land for an appraised value of $650,000 from BJ Investment. That land would then be utilized for storm water retention for the city’s future Arts and Innovation District. The closing will occur on or before December 31, 2026.
Land records also show that the 1.45-acre Jackson Street property’s taxable value is $222,870. A screenshot of that data point was included in the city’s resolution for Tuesday’s meeting under “Exhibit A.”
The resolution states that “at least” $500,000 of the sale would be donated by the owner to a “qualifying non-profit” for the city’s downtown theater project.
The nonprofit was not named in the resolution. City leaders including Assistant City Manager Brian Tucker, Chief Financial Officer Michelle Shumpert and City Manager Fox Simons run the Downtown Redevelopment Corporation, a nonprofit that helped secure almost $5 million in state and federal tax credits for the downtown theater project.
The 300-seat theater is expected to cost over $22 million and will be operated by Coastal Carolina University once it’s completed.
The university will use the new theater for performances for at least 150 days, have it for third-party uses for 100 days and allow the city to use it for 30 nights each year.
This story was originally published June 9, 2025 at 2:32 PM.
