Oct
30

Grand Strand Apartment Market Finds New Players

By
October 29, 2008

Jessica Foster – The Sun News

New apartment complexes are sprouting up across the Grand Strand, driving up vacancy rates but bringing incentives to snag renters in a competitive market.

Several new complexes are in the works: Spartanburg-based Johnson Development Associates Inc. has applied for a permit to build The Haven at Carolina Forest, a 312-unit development next to The Farm neighborhood, said Horry County principal planner David Schwerd. Another complex, 288-unit Alexan Withers Preserve, is being built on the former Myrtle Beach Air Force Base and is scheduled to open to renters in the spring.

The hot spots for growth are along U.S 501 and just south of Myrtle Beach, according to Jenny Shelden with Real Data Apartment Market Research, a Charlotte, N.C.-based company that surveys apartment markets in the Southeast’s major metro areas.

Last year, apartment options on the Grand Strand grew at the fastest pace in five years, Shelden wrote in an e-mail.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.myrtlebeachonline.com/business/story/648106.html
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