Lodestone Design and Development
Mount Pleasant, South Carolina
By Bill Farley
"Lodestone is concentrating much of its efforts on Dye Estates at Barefoot Resort, where Smith has several half-acre lots ready for development. They offer a host of attractions, including golf..."
When Greg Smith developed his first property five years ago - commercial space topped by three condos in the shadow of Chicago's legendary Wrigley Field - he didn't envision leaving the shores of Lake Michigan for the Carolina coast.
Smith, who turned to the construction business after a career in investment banking, had heard about Myrtle Beach and decided to check out the opportunities there. He immediately put down an option on a piece of land for his own personal home on the Grand Strand.
At first he wasn't sure he wanted to get into the building business in South Carolina, but he soon realized the steady stream of tourists to the Grand Strand meant that rental properties were the wave of the future. He and his partner chose the new-construction end of the business.
"It made sense to build rather than buying at the top of the market," he says. "That way we would be able to keep some units for our own inventory. We were building for ourselves as well as for the general public."
Smith and his partner at Ocean Breeze Development have concentrated their energies in North Myrtle Beach, where they have developed an upscale 16-unit condominium complex at Windy Hill, with spacious accommodations and top-of-the-line amenities. Its units range from a three-bedroom, 1,700-square-foot configuration selling at around $500,000 to a five-bedroom, 2,500-square-foot layout at around $750,000.
Smith also owns Lodestone Design and Development, a name that harks back to the early magnetic compasses that helped seafarers cross the vast oceans. Lodestone's specialty is helping to create homes with the finest amenities for coastal living, including such special features as outdoor summer kitchens with grills, wet bars and fireplace in order to optimize both the functionality and the enjoyment of customers' homes.
"I want Lodestone to be the client's guide to navigate the complex building process," he explains.
One private residence Lodestone developed belongs to Leo and Carol Dagostin in the gated Leather Leaf community at Barefoot Resort and Golf. The four-bedroom, four-and-a-half bath home on the 17th fairway is a dream come true for the Dagostins.
The home includes a screened porch with grill, wet bar, fireplace and refrigerator, a second story bonus room comopening to a spacious deck and an enclosed courtyard with a fountain.As Carol Dagostin put it, "It's a great home. And Greg has been a delight to deal with from start to finish."
Lodestone is concentrating much of its efforts on Dye Estates at Barefoot Resort, where Smith has several half-acre lots ready for development. They offer a host of attractions, including golf, the spectacular tower pool at the Marina and an ocean-front beach club. In fact, Smith is building his own home at Dye Estates.
Smith traded the Chicago Cubs for the Myrtle Beach Pelicans to become one of the most respected developers on the Grand Strand, and many savvy buyers on the Carolina coast are glad he did.