Burroughs and Chapin were the actual founders of Myrtle Beach.
The firm literally laid the foundation and the streets for the city.
So, it came as a surprise to many locals when the now real estate investment trust chose to invest $5.1 million in downtown Charleston as opposed to Myrtle Beach.
The company owns the land at the former Myrtle Beach pavilion. It remains undeveloped.
Myrtle Beach-based real estate investment firm Burroughs & Chapin recently bought the buildings at 346-348 King St. as well as the property at 377 King for $5.1 million
Walter Whetsell is the campaign manager for both U.S. Congressman Tom Rice and Myrtle Beach Mayor Brenda Bethune.
In the last few days, mailers and videos have been released by the Whetsell team touting the mayor’s success in re-developing the town.
However, when the former corporate parent of Myrtle Beach chooses to invest in Charleston, questions are certain to be asked.
As a business concern, most believe that the Charleston investment has much more upside for Burroughs and Chapin than any possible investment in the Myrtle Beach area at this current time.