Retail news | New live-work community planned in Myrtle Beach

Retail

HORRY COUNTY

Center in works

Summit Shores, a new live-work community, is planned on about 26 acres off U.S. 17 Bypass between Harrelson Boulevard and Farrow Parkway, near the Lauderdale Bay development.

The developer, Apex Homes, Inc. plans to build about 600,000 square feet of commercial and retail space and as many as 150 apartments or condos.

Max & Erma's restaurant and El Maison del Cuba, a Cuban restaurant, have already signed on to be anchors in some of the larger retail space that is being built, said Alice Ziriada, the broker in charge for Apex Homes.

Construction has started on the project, and the first businesses and housing should be completed by the spring, Ziriada said.

Some of the buildings will be similar to those at The Market Common in Myrtle Beach, with stores on the ground level and residences above them.

The company chose the live-work concept because businesses and residents like mixed use communities, Ziriada said.

CHARLESTON

Shoppers shaky

Consumers continue to be very bargain-driven and are holding back on spending, according to the latest survey from Charleston-based America's Research Group.

The survey found 74.3 percent of shoppers say they watch for more sale ads by their favorite stores. That is up from 72.4 percent in a survey conducted in May and 67.5 percent in March. It also found that more than half of consumers (52.2 percent) said they only shop when there is a really big deal being advertised. This is up from May (45.5 percent) and March (48.9 percent).

And when asked to describe themselves, 27.1 percent of consumers said that because of bills and debt, they have cut back on spending, up from 24.8 percent in May.

"Consumers are still very reluctant to revert to old buying habits or to shop with any enthusiasm," said consumer trend expert C. Britt Beemer, founder and CEO of America's Research Group.