Multifamily investment and development firm Hudson Capital Properties (HCP) has begun construction on its first active adult living project with The Retreat at Coastal Grand in Myrtle Beach, South Carolina. The high-end community, designed for 55-and-older residents, will consist of 194 one-and two-bedroom residences.
HCP is partnering with GHK Cape Fear Development in Wilmington, North Carolina and C&S Commercial Properties in Fayetteville, North Carolina to develop The Retreat at Coastal Grand.
“With the combination of low taxes, reduced cost of living and warm weather, Myrtle Beach is becoming a popular and prime retirement destination,” said Robert B. Cohen, II, chief investment officer of New York-based HCP. “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.”
The Retreat at Coastal Grand will feature resort-like amenities, including a pool, pickleball, ponds, walking trails, bocce courts, a community garden and shade pavilions. The clubhouse will offer fitness and aerobics rooms, a demonstration kitchen, social area, multipurpose room, theater, and arts and crafts rooms.
