Incomplete luxury condos on Ocean Blvd.
by Luxury.net
Luxury hotels and condominiums, which are located in Ocean Boulevard in Myrtle Beach, used to attract millions of people and it is a great source of earning money. But shockingly, one project is half-built and has been an eyesore for nearly six years now.
The story seemed interesting. The Bali Bay Condominiums started the project nearly six years ago. It was a grand design that spared no expense. But during construction, the economy tanked and accounts ran dry. Now the condo has become an odd one.
Bruce Boulineau, who is the Director of Construction Services for Myrtle Beach, has proclaimed that, “The owner, moneywise, I think had to stop construction to try to salvage his losses.” Bruce also added, “He held onto it as long as he could and the bank foreclosed on the property.”
According to the sources, the initial building permit was issued in 2005 and nobody is sure when work stopped. The Bali Bay project was supposed to be developed at 701 South Ocean Boulevard as 12 luxury condos. Four of the condos were oceanfront; the other eight had ocean views. Each condo was going to be grand; the smallest at 3,000 sq. ft., would have seven bedrooms. The oceanfront penthouse suite, at 4,600 sq. ft, boasted eight bedrooms and six and a half bathrooms. Boulineau opined that the unfinished project is the biggest one he’s seen in the city. But for some weird reason, the project is still incomplete now and it has become just an eyesore.
Boulineau also said that, “This is the first one we’ve had in Myrtle Beach this size. We’ve had smaller ones that didn’t make it all the way through but this is the largest one we’ve had this size.” He later opined that the city has no authority to force the owner to do anything with the building.
