Melrose's Suitor Show His Hand at 07/22/2022 meeting
Tim Pritcher, CEO of Whitestone, the current potential buyer of Melrose, conducted a meeting primarily for residents of the Historic District two nights ago. He showed how he would re organize the parking lot at Melrose Dock which he said was essential for him to own and control, in order for him to close on Melrose. During questions he said he knew the President of 6th Sense, but he admitted that no branded Resort company was guaranteed if he closed on Melrose as an investor. So rumors about 6th Sense actually buying the property appear to have been speculation or smoke and mirrors. If he closes on Melrose, and cannot attract a Resort company to build and operate a Resort, he will be free to develop it as he sees fit. He did not propose any Planned Urban Development (PUD) plan, and it appears that he hopes to step into the old Melrose Resorts shoes, despite his stating that the Inn at Melrose lacked enough scale to be profitable. So what is he planning if he cannot sell part of the property to a Resort Company? We do not know.
Mr. Pritcher acted as an agent for Redfish, the current owner or TTEE of Melrose., with interim rights to the property pending its sale. He said he had raised the rent for businesses who have rented on a month to month basis in the commercial areas at Melrose. In June, he began charging Haig Point $10,000.00 per month for use of the Melrose equestrian asset which HP has maintained, improved the barns and fences, and saved the small clubhouse. This charge is unsustainable He also began charging $10,000.00 per month for the use of Melrose dock for the Daufuskie Island Ferry County services to Beaufort County..
Thus Mr. Pritcher has revealed his hand. He wants a hammerlock on the Melrose Dock and he wants profits. If he does close, it remains to be seen how much good his ownership will benefit our Island and residents. There is no guarantee that any Branded Resort will restore Melrose if Whitestone closes on the property. lf Beaufort County condemns the Melrose Dock so that it can serve all residents of DI and the public, Whitestone wants out. But out of what??? Whitestone's holding Haig Point and DI vendors hostage to mandated rent increases may predict the future, if the County does not control and open the dock on a fair basis or all.