Assignment
The property was formerly part of the Myrtle Beach Air Force Base and was given to the City of Myrtle Beach, which then resold the property to a private investment group. Anthony & Co. was selected by the investment group to develop the property.

Objective
AACRE developed Seagate Village into an 800-unit multi-family condominium community on 267 acres off Highway 17 in Myrtle Beach, South Carolina, south of the Central Business District.

Opportunities/Challenges
The project was the largest single residential property in South Carolina. How to manage the massive rehabilitation and sales process properly was a challenge that we met. In less than two years the project was over fifty percent sold.

Results
The project was scheduled to be sold in five phases over seven years. The project is nearly 60% complete and over two years ahead of schedule. AACRE secured the financing for the project and providing construction management, and is managing project sales. Sales will total $85 million.