According to a report by WBTW News 13, the project is being designed to provide housing for international students in light of the region’s seasonal housing shortages, which directly impact its tourism-driven economy.
Located on Mr. Joe White Avenue, the development’s first building is expected to be completed by April 2025.
When fully completed, the facility will consist of five buildings that can house up to 1,572 international students. The initial phase will include two buildings with 360 beds each.
According to the report, international students play a crucial role in Myrtle Beach’s economy – particularly in the tourism sector, where they make up roughly 4% of the workforce each year.
These students typically take on key roles in hotels, restaurants and tourist attractions, especially during the peak and off-peak seasons.
However, a shortage of affordable housing has created challenges for students and employers.
In an interview with the television station, Mark Lazarus, president of Lazarus Entertainment Group, hailed the project as being huge for the city’s economy and dismissed any concerns about its significance.
These students fill a void, particularly at the front and back ends of the season when we need them the most
Mark Lazarus, Lazarus Entertainment Group
“There’s a misconception out there that this takes the place of local workers. Absolutely not. These students fill a void, particularly at the front and back ends of the season when we need them the most,” stated Lazarus.
He also stressed the importance of reliable housing for international students, noting that his company has already secured accommodation for those arriving in 2025.
The new housing complex also aims to foster a sense of community among international students.
Each building will feature four-person rooms equipped with bunk beds, private bathrooms, and kitchenettes.
Common areas will include kitchens, laundry facilities, recreational spaces, and high-speed internet to meet students’ social and academic needs.
The safety and security of the residents are top priorities for the developers.
The property will be fully fenced, with RFID access control for buildings and units.
On-site staff will be available around the clock, and live video monitoring will cover shared spaces and hallways.
According to Lazarus, authorities will restrict visitors’ access to ensure the students’ safety.
Local leaders and developers believe that the new housing project will provide significant economic benefits, making it easier for international students to settle in Myrtle Beach.
With a more reliable housing supply, more students may be drawn to the area, boosting the workforce during the peak tourist seasons.
“These students help keep the wheels of our economy turning,” Lazarus remarked.
“Without them, businesses might have to cut back on services or limit hours. They support the local workforce and contribute to the local economy through their spending.”
The development’s central location on Mr. Joe White Avenue is also a key advantage, according to the report, putting students near many of Myrtle Beach’s major attractions, including Broadway at the Beach.
Additionally, students will have access to bike paths, public transportation, and rideshare services, making it easy to travel to work or enjoy the beach.
With the students coming from all over the world, Lazarus stated that he wants to make them “feel welcome here and create a community where they feel safe, secure, and supported in their professional and personal lives”.
International students remain an integral part of the educational and economical landscape of the US.
The latest Open Doors 2024 Report, released last week, revealed that international students have reached a record high of 1.1 million at US colleges and universities in 2023-24.
Moreover, recent research from NAFSA and JB International found that international students contributed $43.8bn to the US economy during the 2023/24 academic year and supported more than 378,000 jobs.