NORTH MYRTLE BEACH, S.C. (WBTW) -- A long-anticipated Margaritaville concept planned for North Myrtle Beach has cleared a major financial milestone, a Dallas-based firm said Monday.

“North Myrtle Beach presents a unique opportunity to capture tourism demand as it has limited high-quality hotel accommodations, making this an ideal location for a Compass by Margaritaville property,” Brian Mitchell, vice president of HALL Structured Finance, said in statement announcing a $68.5 million construction loan for the project.

Compass by Margaritaville announced in 2023 plans to bring their Jimmy Buffett-themed brand onto the Grand Strand with locations in Myrtle Beach and North Myrtle Beach.

Groundbreaking on the 1717 S. Ocean Blvd. venture was expected to start sometime this year. The property

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