It has been almost three years since we had any positive news on the status of Daufuskie Island, well about two weeks ago we received some great news. Both Melrose and Bloody Point were sold out of bankruptcy court. So what does that mean? J. T. Bramlette of the Pelorus Group of Salt Lake City bought Melrose for $13 million dollars in late May, also Brian McCarthy, a Bloody Point resident bought Bloody Point and it's golf course.
Bramlette, "We're going to revitalize this entire project," a reference to the newly acquired Melrose property. His vision includes restoring and updating the Melrose Inn, a project that could take at least a year. Once completed, he would bring in a big name hotel to manage the property; he mentioned the Ritz-Carlton or Rosewood in a recent interview conducted by the Island Packet, other projects include developing an outdoor amphitheater, a village market and move the pool from Easter Beach to closer proximity to the Inn. They also plan on repairing the sea wall on the 18th green on the Melrose golf course and re-nourishing the beach along the Atlantic Ocean. So what is happening now at Melrose? Landscapers are all over the property like ants on an ant hill trying to bring the property back to it's Low-country beauty, they also are planning to re-open Jack's restaurant at the Melrose Club House, and engineers and architects are inspecting the Inn. Bramlette recently hired a general manager with over 25 years experience to oversee his investment, moving from Myrtle Beach.
Bloody Point's new owner Brian McCarthy has suggested it his plan to re-open the Bloody Point golf course and has already started to cut the grass and make the notable repairs to the course. Other than that, he has not released any more information as of yet. My guess, he is in talks with Bramlette, it only makes sense that they both work together.
What else is happening on Daufuskie Island? Construction projects such as rehabilitation projects started a few months ago, most notably a cottage in Easter Beach that will be added to our Ocean Front Residence Club. The target date for it's completion is sometime early August. Transportation still needs to be solved, the Federal government is working on a program to subsidize the ferry system. It looks like the first leg of this will begin in at the Westin Resort in Savannah to begin a daily service to Dafuaskie Island sometime in September. Our company is currenlty providing transportation for our clients in a private boat that make the trip in about 35 minutes from Salty Fare, the other option is a ferry running out of Broad Creek Marina on Hilton Head.
Are there real estate deals? Yes, there are. Land is currently not one of them unless you pay cash or secure owner financing. The banks are just lending on vacant lots and if they do they are requiring up to 50 per cent down. If you are interested in a home, there is financing available.
I will be visiting Daufuskie, sometime in the next two weeks and I will be giving you all an updated report on the progress. If you have any questions, please contact me.