South Carolina leveraged $990.3 million in federal highway and bridge formula funds in FY 2022 to help jumpstart 372 new improvement projects in communities across the state during the first year of the Infrastructure Investment and Jobs Act (IIJA), a review of U.S. Treasury Department data through September 30 shows.

“A key takeaway from the Treasury data is that the bipartisan infrastructure law is working in year-one as intended, with state transportation departments disbursing funds and projects breaking ground,” said American Road & Transportation Builders Association (ARTBA) Chief Economist Dr. Alison Premo Black, who prepared the report.

“The economic and quality of life benefits of the infrastructure law will become even more apparent as funding continues in coming years,” adds ARTBA Chair Paula Hammond, a WSP USA senior vice president.

“The beneficiaries of these long-term investments will be the American traveling public in their communities.”

President Joe Biden signed the IIJA into law Nov. 15, 2021. Nearly 90 percent of IIJA's highway funds are dispersed by existing formula to states, with the remainder distributed through discretionary grant awards and other allocated programs. 

Nationally, over 29,000 IIJA projects were launched through the end of September. The five largest projects supported by formula funds in South Carolina are:

• Phase 1 of the Carolina Crossroads I-20/26/126 Corridor Improvement Project: $145.5 million
• I-20/I-26 Interchange and the Corridor Along I-26 from US 378 to US 176 and I-20 from Saluda River to Broad River: $90.0 million
• Phase 2 of the Carolina Crossroads I-20/26/126 Corridor Improvement Project: $83.8 million
• Widening of I-26 and Enhanced Pedestrian Facilities from Mile Marker 85 to 101 in Newberry, Richland & Lexington Counties: $68.1 million
• Reconstruct the Pavement Structure of I-26 Eastbound and Westbound from MM 149-172: $50.0 million.

MB National, LLC has purchased a majority interest in Monterey Bay Suites located on the north end of Myrtle Beach. The purchase was the latest addition to the MB National portfolio, which recently included the opening of a $79 Million Oceanfront Marriott Springhill Suites/Courtyard dual brand.

Monterey Bay is an oceanfront Myrtle Beach resort, offering luxurious suites with full and partial ocean views. Monterey Bay is just a few steps away from one of the most scenic stretches of beach on the East coast and close to water parks, shopping, restaurants and attractions.

All guests enjoy complimentary hot breakfast and a diverse range of amenities including an indoor/outdoor pool, indoor lazy river and hot tub. It also boasts a rooftop pool and hot tub with views facing Myrtle Beach. 

MB National has selected Brittain Resorts & Hotels as the onsite management company. Brittain Resorts & Hotels will assume all management responsibilities including revenue management, strategic operations, homeowner services, food and beverage, human resources, information technology, sales and marketing services.

“Monterey Bay's exciting amenities and prime location makes it a welcome addition to our hospitality family,” said Patrick Norton, vice president of sales and marketing of Brittain Resorts & Hotels.

“We look forward to implementing our service philosophies and best practices as we get to know our new team members, guests and homeowners.”

MB National LLC's roots go back to 1971, when The Myrtle Beach National Company was formed by a group of hoteliers.

Over the past 50+ years, the company has built or acquired multiple golf courses, hotels and condo properties. MBN's portfolio partnerships include two vacation rental companies -- Beach Vacations and Lachicotte -- as well as The Breakers Resort, The Strand, Litchfield Beach & Golf Resort, and seven Starbucks locations.

MBN's most recent development was the construction of a $79 Million Oceanfront Marriott Springhill Suites/Courtyard dual brand, which opened in spring of 2022 in Myrtle Beach.

Avison Young’s Chris Fraser, CCIM, principal and managing director of the firm’s Greenville office, announced that it represented Charter Consultants, LLC in the $3.1 million acquisition of an industrial property located at 1360 Truby Drive in Haw River, North Carolina.

The 27,084-square-foot trailer maintenance and storage facility is under a long-term lease agreement to American Trailer Rental Group (ATRG).

Charter Consultants, LLC, the buyer, was represented by Gary Lyons, principal, CCIM, SIOR, who is based in Avison Young’s Greenville office. The seller was Burton & Burton, LLC, and financing was provided by Summit Credit Union.

“It was a pleasure working with Charter Consultants, and specifically Norman George, on this transaction,” said Lyons.

“The property is extraordinarily well-located for the business segment it serves.  I believe this investment will serve Charter Consultants well into the future.”

The property is occupied by ATRG, a regional provider of trailer rental and transportation services for a diverse range of industries including warehousing, distribution, transportation, logistics, manufacturing, retail, and construction. ATRG has grown from two locations, and approximately 5,400 units in 2017 to nearly 30 locations in the U.S. and Canada with more than 30,000 units.

“Avison Young provided valuable insight, and guidance, throughout the transaction,” said Norman George, principal, of Charter Consultants.

“Gary’s understanding of the changing market conditions and the motivations behind my timeline was critical to a successful transaction. We would have been challenged to complete this transaction without his steady hand.”

The Meeting Street Scholarship Fund, a nonprofit helping high-achieving students with financial need pay for college, announced the expansion of the scholarship to Barnwell County thanks to the generosity of a group of anonymous donors.

The expansion to Barnwell County is projected to impact more than 60 high school seniors in the next five years, awarding each recipient up to $40,000 in total college scholarships. The estimated scholarship awards will exceed $2.4 million, and there is no limit to the number of recipients who can earn the Meeting Street Scholarship.

The scholarship is now available in 10 counties, including six with the highest poverty rates in South Carolina: Barnwell, Charleston, Clarendon, Darlington, Dillon, Florence, Lee, Marion, Marlboro, and Williamsburg.

The fund provided over $3 million to 276 students in its first two years. With the addition of Barnwell County, the Meeting Street Scholarship Fund projects it will award more than 200 scholarships annually.

“With this act of exceptional generosity, we are now able to expand the eligibility of the Meeting Street Scholarship Fund to deserving students in Barnwell County,” said Ben Navarro, founder of the fund.

“Students who have worked hard to earn acceptance to our state’s best colleges should not be held back by daunting college costs. Expanding opportunity is our mission, and we are excited to follow these incredible students as they achieve their dreams.” 

The Meeting Street Scholarship Fund was based on a simple principle: to make college accessible for hardworking, qualified students from under-resourced families who want to attend one of South Carolina’s best colleges. The scholarship is intended to bridge the gap between college tuition costs and what a student can reasonably afford by granting up to $40,000 for up to four years per recipient.

With no limit to the number of scholarships granted, every student who completes the simple online application and meets the fund’s eligibility criteria will receive the scholarship.

In its first year, the Meeting Street Scholarship Fund awarded scholarships to 94 Charleston County students for the 2021-2022 school year.

For the 2022-2023 school year, with the support of the Darla Moore Foundation, students from eight counties in the Pee Dee region became eligible for the scholarship, almost doubling the number of new scholarship recipients for the 2022-2023 school year

Inspired by the Meeting Street Scholarship Fund’s work in Charleston County and the Pee Dee region, a group of philanthropists decided to fund the scholarship in Barnwell County. Only 49 percent of Barnwell County high school graduates from the Class of 2022 are currently enrolled in a two or four-year college.

The online application is now open and available at www.meetingstreetscholarshipfund.org, and the website also explains the eligibility criteria. Applicants will be notified of their eligibility within one week of each monthly submission deadline.