Broadstreet Inc. has continued its growth in the Carolinas by providing private equity backing to the first state-of-the-art Crystal Lagoons amenity in South Carolina through Broadstreet’s exclusive funding relationship with Blue Lagoon Development LLC, whose principals are Ford Elliott and Josh Howard.
The first project is expected to be in Columbia, with more to follow across the state.
“We continue to work exclusively with Broadstreet as our valued private equity institution, which has allowed us to continue to undertake exciting development projects and continue our massive footprint of projects in the Carolinas,” said Ford Elliot, chief executive officer of Contender Development and Blue Lagoon Development, LLC.
Through a patented concept and technology that allows developers to build and maintain crystalline lagoons of unlimited size at very low cost, Crystal Lagoons technology has the ability to create an idyllic beach lifestyle anywhere in the world.
“Imagine living near a beautiful, crystal-clear water lagoon surrounded by white sandy beaches without actually having to travel to the beach,” said David Feingold, chief executive officer of Broadstreet, Inc.
“We are excited to bring this innovative amenity to South Carolina.”
Broadstreet and its development partners plan to locate the first lagoon in Columbia, near a residential housing development.
Many of the other similar projects around the United States offer more than just sunbathing and swimming, with the opportunity for shopping, entertainment, restaurants and hotels around the lagoon. The team has the option to develop three of these lagoon projects within the state.
Crystal Lagoons amenities are sustainable and eco-friendly using a minimum number of additives and energy.
They use up to 100 times fewer chemicals and only consume 2 percent of the energy needed by a conventional swimming pool.
Additionally, the lagoons can use any type of water and are only filled once, and they operate in a closed circuit. By bringing beach life, water sports, and entertainment close to home, Crystal Lagoons amenities also lower the human impact on biodiversity and reduce CO2 emissions associated with car and plane travel to natural beach destinations.
It is a U.S.-based company with locations around the world and was recognized as the Champion of Champions in the 2022 Green World Awards for winning the carbon reduction category, beating 200 winners across all other categories including climate change, water and energy efficiency, and innovation.