Grand Strand Palmetto Pulse, August

SPOTLIGHT

AmeriCraft Homes and M Group Companies Secure $60 Million in Construction Financing for Margaritaville Vacation Residences Myrtle Beach

AmeriCraft Homes and M Group Companies, co-developers, closed on a $60 million construction loan from DLP Capital for Margaritaville Vacation Residences Myrtle Beach, a 271-unit, resort-style residential community in Arcadian Shores. Following the loan closing, vertical construction commenced on June 1, 2026. Building 1, 2, and all resort amenities are expected to be completed by late 2027. To date, the community is 25 percent sold, attracting buyers from across the East Coast seeking laid-back coastal living. Prices start from the high $300,000s.

DROUGHT LOANS

Horry County Businesses Affected by Drought Eligible for Disaster Loans

The U.S. Small Business Administration (SBA) announced the availability of low-interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in the Carolinas to offset economic losses caused by a drought beginning on April 28. The disaster declaration covers the South Carolina counties of Dillon and Horry. The SBA’s Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to this disaster.

BANKING MERGER

Coastal Carolina Bancshares, Inc. and Beacon Holding Company, Inc. Jointly Announce a Merger of Equals to Create a Premier South Carolina Banking Franchise

Coastal Carolina Bancshares, Inc., the parent company of Coastal Carolina National Bank, and Beacon Holding Company, Inc., the parent company of Beacon Community Bank, have joined, creating the third-largest publicly traded community bank holding company headquartered in South Carolina. The Merger of Equals transaction creates a Charleston-headquartered bank holding company with approximately $2.2 billion in consolidated assets. The holding company will remain Coastal Carolina Bancshares, Inc. and continue trading under the ticker symbol CCNB. The combined bank, after the system conversion expected in early 2027, will be rebranded as Beacon Bank, N.A. and will be headquartered in Myrtle Beach.

AWARDS

HelloNation Article Highlights Conway as a Finalist for the National Civic League's 2026 All-America City Award

The All-America City Award recognizes communities that strengthen local democracy through collaboration, civic engagement, innovation, and inclusion. The HelloNation article notes that Conway's resilience efforts emphasized shared ownership rather than top-down decision-making. Business owners, environmental groups, schools, and neighborhood residents all contributed to planning discussions involving river health, emergency communication, and infrastructure priorities. The article explains that Conway expanded its Riverwalk, improved drainage and pedestrian infrastructure, and implemented resilience projects tied directly to public communication and community participation.

RECOGNITION

Myrtle Beach Named No. 5 Best Small City in America

Myrtle Beach has once again earned national recognition as one of America's most desirable places to live and visit, ranking No. 5 among the nation's Best Small Cities in the newly released 2026 America's Best Cities Report by Resonance Consultancy. The Myrtle Beach metropolitan area also ranked No. 55 overall among all 393 metropolitan areas evaluated across the United States. Myrtle Beach ranked among the top small cities of Savannah, Boulder, Asheville, and Ann Arbor, while ranking No. 2 for lovability and No. 7 for livability.

HEALTHCARE LEADERSHIP

Jay Hinesley Named CEO of Tidelands Health as MUSC Partnership Advances

Tidelands Health and the Medical University Hospital Authority (MUHA) announced that they have named Jay Hinesley as chief executive officer at Tidelands Health. Hinesley, who assumed the new role on July 1, previously served as CEO of MUSC Health's Pee Dee Division, a position he had held since 2021.

In that role, he provided executive leadership for MUSC Health Florence Medical Center, Black River Medical Center, Marion Medical Center, and the Leatherman Behavioral Care Pavilion.

Current MUSC Health Pee Dee Division chief operating officer Jason Cox became interim chief executive officer. The transition reflects the continued collaboration between MUSC and Tidelands Health as the organizations work together to enhance care delivery and improve health outcomes for the communities they serve.