According to the studies, building a scaled-down version of the Daniel Island proposal would be the quickest way for the port to expand. The authority has not endorsed any of the three potential expansion sites and will continue to analyze the three options.

At its latest monthly meeting, the authority's board agreed that each of the three sites has positives and negatives. According to the study, construction of a port terminal would take about seven years on Daniel Island or in Jasper County and about 10 years at the former naval base, which could be heavily contaminated.

The authority has estimated the port will run out of capacity within the next six to eight years. Shipping volume has risen about 16% during the past year. State and local officials believe a port expansion is necessary for South Carolina to continue attracting foreign investment and tapping export markets. The Port of Charleston is the country's fourth-busiest container port.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.