Sale of old port property falls through 3rd time

PORT ROYAL, S.C. (AP) _ An attempt to sell 52 acres of land owned by the South Carolina Sate Ports Authority in Port Royal has fallen through again. It’s the third time in six years developers have tried to buy and redevelop the property. The Port Royal Town Council learned Wednesday that, after several extensions, the Port Royal Redevelopment Group was unable to secure financing for the $17 million purchase. The process of selling the property will begin again. The Ports Authority says it will work with the town to ensure a quick turnaround and sale. An updated appraisal of the property will also be made. The Ports Authority operated the small port from 1958 through 2004 when it decided to sell the property. Two earlier development deals also fell through.