Twin Point Capital, Highgate and South Street Partners (collectively, the “Development Partners”) today confirmed a joint venture to create a category-defining surf resort destination at Broadway at the Beach, one of the nation’s highest-traffic entertainment centers.
Planned for a 28-acre site at the corner of Highway 17 and 21st Avenue North, the project envisions a large-format Wavegarden Cove surf lagoon as its centerpiece, complemented by a hotel, premium surf cabins, a lazy river, beach, swimming pools, and a diverse mix of food and beverage experiences. As one of the country’s leading hotel operators, Highgate will operate the hotel, with the Development Partners collectively responsible for all other operational activities across the resort.
Designed to immerse guests in a lush, tropical environment, the resort will redefine Myrtle Beach’s nationally recognized identity as “The Beach” and deliver an unrivaled surf and leisure destination for experience-seeking families and visitors of all ages and abilities.
The project will have the broadest set of amenities of any surf park in the world, welcoming surfers and non-surfers into an immersive tropical environment.
Set within one of America’s most successful tourism ecosystems, the resort will establish a breakthrough model that delivers a multi-venue experience, where water features sit alongside multiple eateries, rooftop bars and restaurants. With Myrtle Beach’s favorable year-round climate and Broadway at the Beach’s proven visitor base, the project is poised to become an iconic city attraction and a generator of new visitors and economic activity.
Wavegarden’s market-leading surf park technology will anchor the diversified resort providing locals and visitors with a state-of-the-art leisure facility.
Myrtle Beach Mayor Brenda Bethune shared her enthusiasm for this milestone:
“This is a pivotal moment for Myrtle Beach. We’re delighted to welcome nationally recognized partners to deliver this city-defining project. Surf parks are still an emerging concept, and to see a resort of this caliber proposed for Broadway at the Beach speaks volumes about the strength and potential of our market. This is going to be an elevated experience for residents and visitors alike.”
Chad Carlson, Chief Financial Officer of Burroughs & Chapin, the owner of Broadway at the Beach, added:
“We’re excited to bring this world-class surf resort to Broadway with trusted institutional partners. The scale and amenity offering will be unlike anything in the country, enhancing our guest experience and strengthening our position as one of America’s premier entertainment destinations.”
Built to engage both Myrtle Beach residents and visitors, the destination aims to secure global brand partnerships and host programming ranging from after-school surf and youth camps to corporate retreats and events.
The Development Partners have committed to funding the equity for the as-yet-unnamed project. Progression to development remains subject to securing attractive debt financing terms, which are now being explored. Surf resort developments are complex and final delivery of the project is not assured until debt financing, entitlements, permits, third-party agreements, and construction all align.
The resort will have direct access from Highway 17 and 21st Ave N, where its food, bar and retail offerings will be accessible from both outside and inside the resort.
