New partnership to bring lagoon-style recreation areas to SC.

• Position: South Carolina

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 lagoons 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...