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The Associated Press, February 25, 2015
MYRTLE BEACH, S.C. (AP) — A new 20-story high-rise oceanfront hotel is planned on the south end of Myrtle Beach - the first major development in the area since before the Great Recession.
Local media outlets report the 240-room Bayshore Hotel will have its own waterpark and cost more than $50 million. It will be built on a vacant site in an area of south Ocean Boulevard that hasn't seen any new development in decades.
It is also the first project under a new city incentive program to spur redevelopment in areas where development has stagnated.
That program includes a rebate of up to $1 million in permit and other development fees. City Manager John Pedersen says it reimburses developers money the city would not have had without the construction project.
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