GEORGETOWN, S.C. (From news reports) - The International Paper Company announced an agreement with a New Jersey-based real estate developer, paving the way for the future of the old paper mill.

The site was an economic engine for Georgetown, providing jobs for hundreds of residents. Since the closure, its future has been a topic of debate with residents and leaders both wanting it to serve the community and bring an economic boost back to the area. However, leaders are still waiting to hear more about the sale, but said it could revive the former industrial properties.

"Obviously, the paper mill operated there as an industrial use for quite some time and closed relatively recently, but we haven't seen any new plans. There's not too much I can say about the new buyer," Holly Richardson, director of planning and code enforcement for Georgetown County, said.

According to River Development Equities, it plans to revitalize the paper mill and several surrounding properties, including the former Liberty Steel Mill, into a mixed-use space. It would have hospitality, residential, industrial, and commercial uses.

"I've actually been in touch with the developer. We've put together a small group of developers that all have properties surrounding the inner harbor and make sure whatever we do has continuity," Jay Doyle, mayor of Georgetown, said.

The developer described their commitment to working with the city's residents, leaders, and local businesses. They aim to create a space that will prioritize jobs for people in the area and respect the character of Georgetown's historical district. However, the county is responsible for the zoning of the former paper mill, and has not seen any formal plans yet.

"The existing zoning is industrial; it's a heavily industrial site. So any plans, based on what I've seen, any zoning beyond industrial would need some rezoning of some sort," Richardson said. "A new conceptual plan to be reviewed by the county, but we haven't seen anything like that yet."

Overall, leaders said this will move this part of the city forward in an effort to revitalize their former industrial sites.

"It's progress. We want to get all those places cleaned up, knocked down, and rebuilt. Get them back online as soon as possible," the mayor said.