Market Common district booms with development

Market Common district booms with development

MYRTLE BEACH, SC (WMBF) - Real estate is booming in Myrtle Beach, especially in Market Common, according to several developers.

Emmens Preserve is one place homes are currently going up and developers plan to add more.

There are several developers expanding in the Market Common District but the company spearheading this specific growth is Lennar Homes.

The area sales manager, Bob Peiffer, oversees all the company's homes in the Myrtle Beach Market, which is more than 650 home sites. He said the next step is to build 35 homes at Emmens Preserve, along nearly nine acres at the dead end of Berkshire Avenue.

Peiffer said right now, they're clearing the property, and these homes should be built by June. A community clubhouse will also be done in the spring.

Peiffer called The Market Common the "hot spot of the Grand Strand," saying, in the past five years, it's been pegged for a lot of commercial and residential development, which he expects to continue.

He said houses in this area are an easy sell, about 90 percent of the homes sell as soon as they're built.

One buyer, Bob Eller, retiring from Pennsylvania, said he was sold on fishing, boating, the taxes and of course, the growth.

"I feel a little more secure in the areas because some developments don't make it and this one seems to be well on its way," said Eller. "Market Common is so beautiful. I think its a big attraction, and its a good addition to Myrtle Beach."

New homes here in Emmens Preserve is only one small piece of the growth Myrtle Beach is seeing. A big question for many: are these homes actually selling at the same rate they're being built?

Despite the struggle for home sales, nationwide, the developers say, that's not the case in Myrtle Beach.

A Sales Agent with Dock Street said October and November were slow months but sales are really picking up. In December, Dock Street sold nine houses. As the company opens up its more than 80 homes at Sweetgrass West, in the area of the Market Common, those houses are already selling.

Dock Street sales representative Ryan Foster said this is just a small indication of 2014.

"Last year was huge for us, we sold a little over 60 houses last year, we expect to do more than that this year," said Foster. "It seems like people's confidence are back and the money is coming back in the stock market. They're able to sell their homes where they're at now and pick up and move."

The City of Myrtle Beach did its latest rough count of housing units in May. This includes either existing homes or those allowed by code in the area. The results show a potential of nearly 5,500 houses on the former Air force Base.

This is all part of an even bigger picture for the Grand Strand.

According to the Coastal Carolina Association of Realtors, in the past year, home sales in the Coastal Carolina region were up 4.5 percent overall, with a 20 percent growth in single family homes, in Myrtle Beach alone.

Local sales representatives say the reasons behind this growth is a no brainer.

"The biggest sell for the Market Common is the amenities it has and the biggest sell for Myrtle Beach is the affordability," said Foster..

With this growth, comes the need for more and better roads.

Coventry Boulevard is the road that, when fully open, will allow you to completely avoid the backgate. The road was originally set to already see traffic, but those plans were pushed back due to weather delays.

When all is said and done, Coventry Boulevard will be the road to get you from US-17 bypass, by south strand hospital, to Farrow Parkway.

Each day, more than 43,000 cars pass by this intersection at the bypass. This heavy traffic is why this road is needed.

Right now, the road ends in Emmens Preserve, but it eventually be the link towards the Market Common.

The goal in building this road is to help ease the traffic in this booming area.

While the city couldn't confirm specifically when the road will be officially open, we were previously told, it would be the beginning of January.

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