Columbia and other S.C. cities could soon see the development of large lagoons for recreation and swimming through a new funding relationship between Greenville-based private equity firm Broadstreet Inc. and Blue Lagoon Development LLC.
The private equity backing will go toward bringing the first state-of-the-art Crystal Lagoons amenity to Columbia, according to a press release. Crystal Lagoons technology allows developers to build and maintain crystalline lagoons of unlimited size at low cost, creating a beach-like environment.
The principals of Blue Lagoons are Ford Elliott and Josh Howard.
“Imagine living near a beautiful, crystal-clear water lagoon surrounded by white sandy beaches without actually having to travel to the beach,” David Feingold, CEO of Broadstreet Inc., said in the release. “We are excited to bring this innovative amenity to South Carolina.”
Broadstreet has achieved approximately $3 billion in transactions and employs more than 600 people, according to the release.
Broadstreet and its development partners plan to locate the first lagoon in Columbia near an undisclosed residential housing development. Similar projects around the country offer more than just sunbathing and swimming, with the opportunity for shopping, entertainment, restaurants and hotels located around the lagoon.
The land the Columbia lagoon will be locatedon has been pre-approved for commercial construction and zoning has already been approved, but no specific location information is available at this time, a spokesperson for Broadstreet Inc. said Tuesday afternoon. The site should be finalized by the end of this year, with construction starting at the beginning of 2023 and completed by the end of 2023.
The team has the option to develop three lagoon projects in the state.
Crystal Lagoons amenities are sustainable and eco-friendly, using a minimum amount of additives and energy. They use up to 100 times fewer chemicals and only consume 2% of the energy needed by a conventional swimming pool, according to the release. Additionally, the lagoons can use any type of water, are only filled once and operate in a closed circuit.
“The options are endless to make this a destination everyone can enjoy,” said Joseph Baldassarra, president of Broadstreet Inc. “It’s a tremendous opportunity to be a part of something very special.”
Crystal Lagoons, based in the U.S., has offices in five continents with a portfolio of more than 2,000 patents in 190 countries, according to its website. In 2022, the company won the carbon reduction category at the Green World Awards.