MYRTLE BEACH, SC – This year, for GlobeSt.com's ADAPT awards, we considered a wide array of commercial projects throughout the county. The 2019 winner of best commercial project repurpose is Waikiki Village Motel in Myrtle Beach, SC. We will be honoring the project at our awards ceremony in Baltimore on September 16^th. As markets transform and desires change, the once-thriving, family-run Waikiki Village Motel saw a significant downturn as an unsustainable model in today's climate. The ownership team, refusing to let this motel become an irrelevant thing of the past, and instead viewed the situation as an opportunity for growth, aiming to turn the motel into a vacation gem once again. Responsible for dozens of historic renovations in South Carolina, the owners teamed up with GBX Group LLC as investors and Tim McLendon, a well-known designer in the Southeast, to repurpose the Myrtle Beach motel, while protecting its 1960s modern charm. With many recent tear-downs and high-rise condominium replacements, GBX Group LLC was able to bring in initial equity contributions to start the overdue project. Leveraging previous knowledge of historic properties, the firm was also able to obtain several tax-related incentives in renovating the property, such as tax abatement and tax credits. Purchased in December 2017, the motel honored reservations throughout April 2018, while constructing a redesign plan. Renovations were made to the 49 motel rooms, pool, cabana, lobby and courtyard over the next six months, with the hotel reopening in October of 2018. The team was able to implement mid-century modern designs, which was a new concept to the Myrtle Beach market.

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➤➤ Join your colleagues at the GlobeSt.com ADAPT: Opportunity Zones awards September 16th in Baltimore, MD, where we put a spotlight on the achievements of those who have had a hand in locating adaptive reuse solutions across the country. At the same time it is also focusing on Opportunity Zones and the potential they offer - for both adaptive reuse and new construction. Click here to register and view the agenda.

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Following the National Parks Service historic guidelines, the development team saw challenges in executing modernizations and restorations to the motel rooms, not surprising considering the property had not been renovated in more than 30 years. As the motel building was mainly comprised of cinderblock, the team creatively directed redesigns and carried-out plans while preserving historic elements. Ratings on various travel sites exhibit the project's success and ensure a continued life for the motel. Engagement and bookings this past spring significantly surpassed expectations, increasing asset income three-times since the renovation. Upon completion, the teams received overwhelming response from the city, community and clients, obtaining various awards and recognitions including the Historic Renovation Award from the county. The transformation has even altered the mentality of the local government, as the city's mayor currently looks to implement a historic district in the area, aiming to preserve history and spur the continued growth.