Exclusive: Little River apartment complex to cost about $70 million
An under-construction apartment complex in the North Myrtle Beach area is part of a larger planned development project.
The Parkway Apartments at 10600 Highway 90 is a 360-unit complex with three playgrounds, two pools and other amenities.
Completing the complex will cost around $70 million, Dennis Euliss said, who is part of the group behind the Parkway Apartments and a builder/investor with the D.H. Euliss Builders LLC.
“I’m very familiar with Myrtle Beach... watched the growth, and actually when we picked that lot up, there really wasn’t a lot of multifamily growth,” Euliss said in an interview with The Sun News. “Just thought that location was really good off of (Carolina Bays Parkway), definitely for people to avoid (U.S. Highway) 17.”
Euliss projected Parkway Apartments expects to begin leasing units around Feb. 2024 and complete the entire project by the end of that year. He added Apartment Dynamics, a property management company from High Point, NC. will oversee the location.
He also mentioned the proximity to the new North Myrtle Beach Park & Sports Complex.
“That’s one of the nicest parks that I’ve been in, and I’ve been all over the place,” Euliss said.
Parkway Apartments is one of two projects in the works. Euliss added that the same ownership group wants to build a commercial development, but plans are still being finalized.
Euliss did say building a road is part of the project, which he estimated would be roughly 1500 feet. He added the street infrastructure will cost about $1.5 million.
The project involves two plots of land at 10560 Highway 90 and 10616 Highway 90 on both sides of Parkway Apartments. The plots are owned by Park Village Development, LLC, which Euliss said is part of the project and about 10 acres large combined. There combined market value is about $1.1 million.
William R McGonigal Jr., registered agent of Park Village Development, LLC, did not return a request for comment.
