Georgetown, South Carolina

A contract to sell Georgetown, South Carolina's shuttered Liberty Steel mill has been canceled, threatening a broader plan to redevelop the city's industrial waterfront. Liberty Steel confirmed the deal with New Jersey-based River Development Equities fell through, though it says it remains in talks with other potential buyers. The agreement mattered because River Development also plans to redevelop the nearby former International Paper site, and officials had hoped the two properties, along with the county port, could anchor a unified revitalization effort.

According to state Rep. Lee Hewitt, the deal broke down after Liberty pushed to close before River Development's redevelopment plans could get city approval. River Development's Warren Waters called the project "in jeopardy" but said his firm's plans for the paper mill site are still moving forward. His vision for the steel mill site included shops, restaurants, a hotel and an amphitheater. Local leaders, including Georgetown Mayor Jay Doyle, expressed disappointment but said they expect another buyer to eventually emerge. Waters is scheduled to address the situation at a public meeting on Sept. 24.