Demolition on the Inlet Square Mall could start soon. Here’s what we know

A massive re-development project for one of the most significant properties on the Grand Strand could soon start the plan’s first step.

Demolition of the Inlet Square Mall could begin as early as June 2024, according to David Harner, vice president of Paramount Development Corporation. Harner added that all mall properties except Belk and former J.C. Penney and KMart locations will get demolished.

J.C. Penney’s Inlet Square Mall location closed in March 2015, and KMart shuttered in April 2024.

Indeed, the Paramount Development-controlled company that owns much of the former mall site—Inlet Square Investments LLC—received a demolition permit from Horry County for a portion of the building May 16, 2024, according to Horry County Land Records.

The plot of land approved for demolition is more than 33 acres large, and construction equipment was at the property site as of May 20, 2024.

The demolition makes way for Paramount Development’s planned re-invigoration of the property, which has sat mostly empty in recent years while its previous owners dealt with controversy regarding unpaid bills.

Furthermore, Paramount Development’s proposal intends to convert the property from a 500,000-square-foot entity to a 250,000 one. According to Paramount Development’s proposal, future development could include multi-family parcels, retail, a hotel, and other spaces. The multi-family area would be about 13.5 acres and feature a pool, clubhouse and dog park. Paramount Development’s proposal estimated project completion around 2025.

Harner said Paramount Development is negotiating with potential hotel brands and future tenants for some of its anchor properties. While nothing was signed, Harner said he expected the lots to be leased by early summer 2024.

Harner also said that the property needed approval from Horry County before work on the multi-family residential component of the plan could start.

Horry County Council already approved a proposal to make the project a joint industrial and business park between Horry and Georgetown County on the third reading Jan. 16, 2024.

In an October 2023 interview with The Sun News, Paramount Development Corporation Real Estate Manager K. Neal Bowers said that the company had worked on re-developing the Inlet Square Mall site since at least 2020.

“We hope to make it awesome again,” he said then.

Harner added that the project is part of a growing shift away from large, enclosed shopping centers like malls and toward mixed-use developments.

“The market has just changed,” He said.

Paramount Development purchased the mall in February 2023 for six million dollars, according to Horry County Land Records.