A new mixed-use development, named The Preserve, is set to break ground this summer in North Myrtle Beach. The $250 million project will bring 800 new homes and a 10,000-square-foot commercial and retail space to the area, promising a significant boost to the local economy and community.
Key Takeaways
- Project Name: The Preserve
- Location: Between Highway 22 and Carolina Bays Parkway, just off Water Tower Road
- Investment: $250 million
- Residential Units: 370 luxury apartments, 207 built-to-rent homes, and 227 paired villa lots
- Commercial Space: 10,000 square feet
- Construction Start: Expected in 60 days
- Rental Prices: Estimated around $2,000 per month
Project Overview
The Preserve will feature a mix of 370 luxury apartments, 207 built-to-rent homes, and 227 paired villa lots. The residential units will include one, two, and three-bedroom options, catering to a variety of family sizes and preferences. The development aims to provide a unique quality of life for its residents, focusing on creating a strong sense of community.
Commercial and Retail Space
In addition to the residential units, The Preserve will include a 10,000-square-foot commercial and retail space. This area is expected to attract a variety of businesses, including quick-service restaurants, coffee shops, convenience stores, drugstores, and banks. The commercial space will serve both the residents of The Preserve and the broader North Myrtle Beach community.
Environmental Considerations
The development will be situated on a 110-acre lot that includes some wetlands. Developers plan to protect these natural areas and incorporate them into the overall design. The project will feature stormwater retention areas, ponds, and lakes, and will use reclaimed water for irrigation, contributing positively to the environment.
Community Impact
Jeff Klotz, CEO of Klotz Group, emphasized the collaborative effort with city leaders since 2021 to bring this project to fruition. The development is expected to enhance the quality of life for residents by providing a real sense of community, especially for those new to the area. The project is also anticipated to boost the local economy by attracting new businesses and residents.
Timeline and Pricing
Construction is likely to begin in approximately 60 days. While rental prices have not been finalized, they are expected to be around $2,000 per month. The development aims to offer a range of housing options to meet different needs and budgets.
Conclusion
The Preserve is set to be a transformative project for North Myrtle Beach, offering a blend of residential and commercial spaces that promise to enrich the community. With its focus on quality of life and environmental sustainability, The Preserve is poised to become a sought-after destination for both residents and businesses.