Almost $400k for an apartment in Myrtle Beach? Here’s what we know about the new complex
A new development that will be similar in style to the Market Common concept on a smaller scale has plans to come to the northern part of Myrtle Beach.
The project, which developers from Nations Homes II have named Dunes Marketplace, will consist of retail and offices on the first floor with apartments on the second, third and fourth floors.
The average cost to live in one of them? It’s just under $400,000.
The development will sit on a current empty lot across the street from Pine Lakes Tavern and Lets Dance Studio on the intersection of North Kings Highway and 52nd Avenue N.
Current plans show that the proposed Dunes Marketplace development will include 18 apartments, 105 parking spaces, two restaurants, two offices, a retail space and a salon.
The site will include six two-bedroom apartments and 12 three-bedroom apartments, according to the documents discussed at Tuesday’s Myrtle Beach Planning Commission Workshop.
This second phase of Ocean Village follows the construction of 33 homes on Ocean Boulevard across the street from the Dunes Village Resort.
A large wall with plenty of landscaping will be built in between the existing homes and the Dunes Marketplace to help reduce potential noise issues, Nations Homes II President and Founder Jeff Skelley said at the workshop.
“This has been planned from the onset to be something similar to an individual Market Common building, but a little bit more contemporary looking,” he said at Tuesday’s meeting noting that he doesn’t want any of the retail spaces under the residents to be open late at night.
As of Tuesday, Skelley said out of the six available retail spaces three have been reserved. One by an attorney for their offices, another for a mortgage company’s offices and the third by a smoothie and acai bowl place.
Some of the Ocean Village homes that will abut this new development sold as recently as this past spring, according to Horry County property records.
Zillow listings are already active online for the apartments as part of the new development, with prices ranging from $353,900 for a two-bedroom, two-bathroom unit to $470,625 for a three-bedroom, three-bathroom unit.
On Monday, Sept. 30, the developer in charge of the project Kevin Surdyke said his calculations now show that the average cost per unit is $382,000.
He said that price could change, but barring drastic construction cost changes, that number is accurate.
A previous number cited by Skelley at the planning commission workshop was about a hundred thousand dollars more than Surdyke’s recent average estimate.
Some concerns were raised about how those Ocean Village homeowners might feel about this new development by Myrtle Beach planning commissioners. In response, Skelley said they all were aware about these plans when they purchased their homes.
“They knew all along what was going to go there,” he said.
He said they’ve sent out postcards with renderings of the new retail/office/apartment center to homeowners in the Ocean Village community prior to bringing the development to commissioners.
Thus far, Skelley said he heard back from two people interested in purchasing new units in the complex, and hasn’t heard anything negative so far.
If all of the permitting requests are approved, Skelley told commissioners he hopes to break ground on the development in Spring 2025 with construction taking approximately 18 months to complete.
Editor’s Note: This story was updated on Monday, Sept. 30, 2024 at 12:47 p.m. to reflect the cost of the new units according to developers.
This story was originally published September 23, 2024 at 5:00 AM.
