Developers paid $14 million for a Conway shopping center. Here’s what you need to know
A large shopping center in the Conway area will be re-developed, and construction is expected to start soon.
Rise Partners bought the Coastal Centre property at 1610 Church St. in Conway and intends to re-develop it. The firm announced the purchase in a LinkedIn post.
Rise Partners is a commercial real estate firm focusing on commercial real estate and the development and re-development of properties. The company focuses on high-growth areas like the Grand Strand in the southeast United States.
Indeed, the firm has also invested in other South Carolina shopping centers and mixed-use projects in Rock Hill and Easley. According to Horry County Land Records, RP Coastal Centre LLC bought the parcels that make up the property for $14 million.
In an interview with The Sun News on Oct. 30, 2024, Rise Partners Partner Greg Wilson said that the firm was looking to bring in new national tenants to the shopping center, although he could not say who. Wilson added that the firm hopes to start construction on the project in 2025 and complete it sometime in 2026.
“We’re super excited about it,” Wilson said. “Conway is growing and needs better options in the market.”
Wilson added that the center would remain retail-focused, and no residential component would be part of the project. The Coastal Centre falls within Conway city limits.
City of Conway Public Information Officer June Wood wrote in an email to The Sun News that the city hadn’t received any plans from the developers for the Coastal Centre.
It’s not the only shopping center along the Grand Strand undergoing re-development. Construction and demolition on the Inlet Square Mall in Murrells Inlet started in October 2024, with rubble piling up.
The site plan includes converting the enclosed shopping mall with several distinct retail components, potentially including a residential component. Hobby Lobby and Home2 Suites have already been announced as tenants for the property.
