New York-based multifamily real estate investment and development company Hudson Capital Properties is entering the active adult housing market with The Retreat at Coastal Grand in Myrtle Beach, SC.
Construction began the week of Nov. 11.
“We are excited to enter the active adult housing market because we see a great opportunity to appeal to seniors as they seek to balance their active lifestyle and evolving economic and healthcare requirements,” Hudson Capital Properties Chief Investment Officer Robert B. Cohen, II said in a statement. “The Retreat at Coastal Grand will afford us the opportunity to dynamically meet these needs.”
Myrtle Beach has low taxes and a relatively low cost of living as well as warm weather, making it an increasingly popular retirement destination, he added.
“We are thrilled to leverage our expertise as we expand into the active adult housing market,” Cohen said. “The opportunities that exist in the Southeast are substantial, as more people retire to this region, and we look forward to providing them with exceptional housing.”
The high-end community, designed for residents aged 55 or more years, will have 194 one- and two-bedroom residences.
Hudson Capital Properties is partnering with GHK Cape Fear Development in Wilmington, NC, and C&S Commercial Properties in Fayetteville, NC, to develop the property. Amenities will include a pool, pickleball, ponds, walking trails, bocce courts, a community garden and shade pavilions. A clubhouse will offer fitness and aerobics rooms, a demonstration kitchen, social area, multipurpose room, theater and arts and crafts rooms.
