The Lexington Town Council has taken initial steps to approve a destination resort community on Lake Murray. The proposed development includes a regional conference center, marina, hotels, retail space, restaurants, single-family homes, townhomes and condos.
According to the Town of Lexington, the 93.53 acre property proposed for the development is currently known as Smallwood Cove, located off Beekeeper Court and North Lake Drive. Private developers are expected to invest more than $733 million into the project. There will be 5 acres of land donated to the Town of Lexington to build the regional conference center on the property.
“One of Town Council’s goals set forth in the original Vision Plan created in 2012 was to create an iconic presence on Lake Murray and with this project we accomplish that,” said Mayor Steve MacDougall. “This is going to create a one of a kind destination on the lake and I want to thank everyone involved in getting things to this point. To say we are excited would be an understatement."
The project is a public/private economic development partnership intended to create destination tourism for Lexington County and provide access to premier lake front property. The Town of Lexington says it will generate substantial tax revenue and economic benefits for the state and local community once completed, including the creation of at least 400 tourism industry jobs.
Construction is expected to begin in about two years, and is expected to take 15 years to complete. The Regional Conference Center, which to date the Town has received $6 million to build from the state, is projected to be completed in 2028.
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