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Deals & Dealmakers

Sands Companies Generates Significant Leasing Activity at Myrtle Beach Build-to-Rent Projects 

Sands Companies, a full-service, vertically integrated multifamily development and construction firm, continues to experience intense demand for its innovative build-to-rent concept in the firm’s home base of Myrtle Beach. For instance, the Sands-developed 253-unit Seaglass Cottage Apartment Homes in North Myrtle Beach is now stabilized, while the firm’s Swells Cottage Apartment Homes in Murrells Inlet is rapidly filling up with residents. 

The award-winning Seaglass Cottages, located on the Intracoastal Waterway in the Barefoot Resort neighborhood of North Myrtle Beach, is now more than 95% occupied. The detached, horizontal cottage-style apartment home community is redefining the build-to-rent genre, with groups of homes built into “muses” and each having its own outdoor amenity to enjoy from a courtyard garden, fire pit or lawn games. Interior features include top-of-the-line kitchen finishes such as granite countertops, white cabinets, and stainless-steel appliances, luxury vinyl wood-look plank flooring, walk-in closets, large and bright living spaces and architectural touches like tray ceilings throughout the homes. 

Following the success of Seaglass Cottages, Sands is now developing the 92-unit second phase of the project. That phase will include 92 one and two-story cottages consisting of two and three-bedroom units ranging from 924 to 1,633 square feet. The project is expected to be completed in the winter of 2024. 

Sands and Seaglass Cottages were honored by national publication Multi-Housing News with a 2022 Excellence Award in the “Best Development & Design: Single-Family Rental” category. 

Swells Cottages is more than 70% leased and 60% occupied. Located at 1501 Flatwood St., Swells Cottages is a 221-unit project with a mix of one and two-story cottage homes ranging from one to three bedrooms and 672 to 1,293 square feet. Each spacious one and two-story detached cottage features a front porch framed in Southern charm, with exteriors painted in a palette of beach-inspired shades and the interiors feature standout, high-end finishes. 

The community is less than a mile from the beach and includes a rich amenity package such as a pool with a sun shelf and a clubhouse with a screened-in porch and fireplace, fitness center with fitness mirrors, fire pit, and a residential lounge complete with a bistro and kitchen area, shuffleboard and games. 

“The activity at these two Myrtle Beach developments has been tremendous,” said Sands President Joe Morrison. “The leasing velocity is proof of concept for our trendsetting model, and demand for our remaining inventory is extremely strong. We will keep pursuing opportunities to bring our build-to-rent product to the Myrtle Beach area.” 

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