MYRTLE BEACH, SC (MAY 03, 2017) - LStar Ventures announced plans for a highly sought after Intracoastal Waterway (ICW) tract within Grande Dunes to be developed in partnership with active adult, lifestyle builder Del Webb. This 637 homesite, 55+ neighborhood, is part of the planned expansion along the ICW. Del Webb will be building 524 single-family homes. Additionally, LStar Ventures will develop 113 waterfront and custom lots. The first phase of the neighborhood is expected to launch in February 2018 with Del Webb’s grand opening.
This highly desirable tract is located along the ICW at the intersection of Highway 17 North and 62nd Avenue North. The 126-slip Grande Dunes Marina, Grande Dunes Marketplace and Grand Strand Medical Center are all within one mile. Residents will be within walking distance of the Claire Chapin Epps Family YMCA and off leash 3.3-acre dog park.
LStar Ventures executives say the partnership with Del Webb represents a key step in fulfilling their vision for Grande Dunes. “Bringing the innovation and appeal of the Del Webb lifestyle into the thriving Grande Dunes master plan vision makes this a perfect fit for both companies,” said Steven Vining, Managing Partner/General Counsel, LStar Ventures.
The companies cited demographic trends pointing to continuing growth in the Myrtle Beach area as key factors that led to the decision to develop the tract as an age-restricted neighborhood.
Charlie Tipton, Coastal Carolinas Division President of PulteGroup, which builds under the Del Webb brand, championed the partnership. “Grande Dunes is a resort destination community providing its residents with first-class amenities and a quality of life that is second to none in the Myrtle Beach market. The attractive location is a major draw for baby boomers who want a retirement location with an exceptional quality of life and endless activities," Tipton said.
Del Webb’s amenity center for this neighborhood will feature a 15,000-square-foot lifestyle building with indoor and outdoor pools, fitness rooms, tennis, bocce and pickleball courts. Residents will have access to the existing amenities as well as miles of walking trails, tennis club, two golf courses and marina. To deliver the Del Webb lifestyle, a full-time lifestyle director will help plan activities, outings, organize new clubs and more.
“When we looked for development options for this valuable property, Del Webb emerged as one of the best possible partners,” said Hampton Pitts, Chief Operating Officer of LStar Ventures. “The reputation Del Webb brings for innovation, quality and lifestyle creativity makes this an extraordinary destination for future homeowners.”
LStar Ventures’ announcement comes as the company finalizes development plans for a new Marina Village that will include transforming the ICW frontage that adjoins this tract as well as a waterfront trail experience that will provide even more pedestrian links for Grande Dunes and the overall Myrtle Beach community. The company also anticipates the addition of these homes to spur more commercial and retail development on property it owns along Hwy 17 at the front of this community.
About Grande Dunes
Grande Dunes is a 2,200-acre master-planned community located in Myrtle Beach, SC. At full build-out, Grande Dunes will have approximately 5,000 single-family homes, villas, homesites and 2 million square feet of retail and commercial properties. This exceptional community stretches from the Atlantic Ocean to west of the Intracoastal Waterway, and from Water Tower Road to Grissom Parkway.
Adding to the value of the community are a range of private and public club amenities, including the private Members Club and golf course, the 25,000 square foot Ocean Club and pool complex on the Atlantic Ocean and the Grande Dunes Tennis Center. Located on the Intracoastal Waterway is the 126-slip Marina at Grande Dunes and the popular Anchor Café. At the southern edge of the community is the Claire Chapin Epps Family YMCA.
About LStar Ventures
Since our inception in 2007, LStar Ventures has built more than 65 beautiful, financially successful, and environmentally sensitive communities in 12 states. We are a privately held real estate development firm that owns many of the finest master-planned communities in the country. We take pride in our financial strength, as we maintain little to no debt on any of our real estate assets. This unique approach ensures we can confidently and successfully execute our development strategies over very long periods of time and through varying economic cycles. For more information, please visit http://www.LVNT.com
About Del Webb
Del Webb is a national brand of PulteGroup, Inc. (NYSE: PHM). Del Webb is the pioneer in active adult communities and America’s leading builder of new homes targeted to pre-retirement and retiring boomers. Del Webb builds consumer-inspired homes and communities for active adults ages 55+ who want to continue to explore, grow and learn, socially, physically and intellectually as they look forward to retirement.
