Mount Pleasant Town Council Approves Republic Tract Settlement Agreement
Mount Pleasant Town Council voted to approve a settlement agreement, resolving a legal dispute over the 185-acre Republic Tract along S.C. Highway 41 and the Wando River. The deal preserves approximately 129 acres of the waterfront property as a passive public park while restricting residential development on the remainder of the land to 95 single-family homes.
The property, situated behind the Rivertowne Country Club neighborhood, was previously owned by the five children of former Republic Contracting President James Deierlein. In March, Highland Resources purchased the tract for $37.5 million. The town, Mount Pleasant Waterworks, and the Deierlein family had been locked in mediation for over a year following a 2023 lawsuit, Mayor Will Haynie stated. The family claimed in the litigation that the town’s requirement for annexation to receive water and sewer service caused a potential $41 million sale to fall through.
Property Acquisition and Development Restrictions
Under the terms of the approved agreement, Mount Pleasant will purchase about 129 acres of the tract for $28.5 million. This land includes more than two miles of Wando River waterfront and will be permanently protected through a deed restriction, a conservation easement, or both. The remaining 56.25 acres will be annexed into town boundaries and limited to a maximum of 95 single-family homes.
Town officials emphasized that the settlement substantially reduces the property’s residential density compared to what was previously permitted. Had the land stayed within unincorporated Charleston County and secured the sewer utility access sought through the legal action, its maximum housing capacity could have reached 1,600 units. Councilwoman Kathryn Whitaker said the settlement is a victory. “We really had to negotiate away from that idea of the 1,600 (homes),” Whitaker said. Pointing out the scale of the scaling back, Councilman Daniel Brownstein highlighted that the deal cuts possible construction by roughly 95% relative to county development potential, or by 65% to 70% compared to town-level development limits.
Infrastructure Plans and Future Closing Timeline
The town and the property’s developer, Highland Resources, will share the cost of constructing a public access road from Highway 41 that will serve both the new park and the residential neighborhood. Mayor Pro Tem Howard Chapman said the access road is a joint venture designed to handle traffic for both zones. The $28.5 million land purchase remains subject to a 90-day due diligence period and other closing requirements, with the transaction potentially closing as soon as next April. Chapman said the town’s due diligence process will run through the end of the year. Additional details regarding park planning and public access will be released by town officials as the acquisition process moves forward.