AG 1998 09 21 - Laserfiche WebLink

Home Browse Search

D0mmant player ~roadway at ~e 8eac~ ~//t~ ~' t . :~ NAS~R~ Sp~Po~" ~ea~er ~ The 21st Ave. ~ By LEAH BETH WARD Stair Writer ~'m'i.e eE~CH -- The Carolinas are ~ull of company tow'ns -- Winston-Salem and Re~nolds To- bacco, Karmapolis and Fieldcrest Cannon, Harts,,Aile, S.C., and Son- oco --but there are none quite like Myrlle Beach. Mos~ trad/tional company towns have dlversilied beyond the tr~ of their birth, but M~Je Beach is becoming ever more elosely shaped by Burroughs & Chapin Co. Inc. the land company that opened up Hony County to tour- ism. Ten years or so ago, Burroughs & ChapLn v,-as mostly a land-lease company content to coilecl rent from hotels and other commercial operators on its ~ holdings -- about 27,000 ac~es -- in H0rry County. But five years ago, under new president and CEO Douglas Wen- del, the corporate str~te~' began to shi~t. Today, Burroughs & Chapin is a developer of ~nusemeot and entertainment complexes, malls, residential and commercial build- ings, upscale, ~ted communities and ch~rnpionsh/p golf courses. The company doesn't release s~les or profits, but V/endel s~id "development activity" has in- creased 40 percent in four yea~. "V~nen you're on the operational side, you can control th/rigs," said Wendel, who became the firs~ non- family member to he~d the pri~.te business when he was named The '"new" Burrough~ & Chapin is pursuing its projects at a time of chan~g IxHitical leadersh/p in Myrtle Beach, brought about parl by the slow decline ef the city's downtow~ core. The former mayer was first elected to City Council in 1959. '~Ve ' re just now beginning to matw from a beach and seafood town to c new identity, and we're all a little sensitive about it. DOUGLAS WT. NDEL 0URROUGH$ & CHAP~N F~ESIDEN? AND CEO dudes three new members much change on any bo-: takes time for dungs to down," McBride said. Wendel is certainly no to polifi,m:. He ',vas director for 10 yea.rs, a top aide to f U.S. Rep. John Jeru'erte. County administrator an;: manager of Noah Myrtle Regarding the shifting Myrtle Beach, he said: lng for things to congeal cally/' But p<)lit/cal uncerraJm3, stop.pad Burroughs & ChapLr moving quickly on sever-a2 projects. Last week, the cch opened the nation's first Speedp~k next ~o its 35~ Broadway at the Beach inla: tertainmem complex. New mayor Mark McBride, 34, , ....................................................... presides over a council that in- P~o. se seeBF..ACH//:m~ ¸:r/y Franklin Gotham Bur- foul,s and Benjamin G~ens Collins start a company w~th interests as diverse as turl:~n- tine. t~mber, farm credit, consumer gco~s and Burroughs & Collins Co. runs the first raiN~y through the swamps of Horry County to the beaches of the Grand Strand. The Pavilion bath house and the Sea- side Inn, the first oceanfront hotel, open. 'New Town" by t~e Simeon Chapin, son of Inspired by the am- Company dona sea bacomes a a wealthy Chicago met- marie wax myrtle - land for churCr popular',racation chant, joins the Bur- bush, Burrouglns' beach access. spot. with beach- rou~s family to create w~dow, "Mis.s lic schcols. front lots selling for Myrtle ~each Farms AOdie," renames hospitals $25, Co. Their comDmed New Town 'MyrtJe 320-acre land holdings dominate Beach.' Beach State the Grand Strand.