Monday a judge signed off on a deal settling the dispute over the old Naval Hospital. The deal will cost tax payers $33 million dollars.
Essentially the settlement forces Charleston County to buy the 24-acre site from Chicora Life Center after the county pulled out of its agreement to lease three floors of the building that’s been under a $28 million dollar renovation.
The site was supposed to be a community center, but the project failed when construction costs soared.
The county pulled out of its lease agreement saying the project was taking too long and it was doomed.
The judge told the parties the settlement is in the best interest of everyone involved, including tax payers, so the costly legal battle doesn’t continue.
Now the county must make a plan for what to do with the building.
There will be a hearing later this month to determine how the settlement money will be divided among creditors who haven’t been paid for their involvement with the project.
The 400,000 square foot project was announced in 2014. The hope was that Charleston County residents wouldn’t have to make multiple stops for numerous services. The space was to include a medical office, meeting, retail and public space.