Upscale rental cottages are headed to growing NC town close to Myrtle Beach. What to know.

An Alabama-based builder has begun work on a $40 million luxury cottage development in Calabash, N.C., with plans to construct 158 high end rental units in the coming months.

The venture dubbed Heartsease at Calabash features single level floor plans, one and two-bedroom duplex and two and three-bedroom cottages ranging from 1,198 to 1,485 square feet.

“During site design for both developments, the primary vision has been to unite these private cottages within a dynamic neighborhood experience including pond and park views, expansive green spaces, miles of contiguous walkways, and club-level pool, fitness and pickleball facilities,” developers said in a press release.

No information was immediately available on cost, but the average rent for a 970-square foot apartment in Calabash is $1,560 according to RentCafe.com - nearly the same as Myrtle Beach.

Capstone Building Corp. is constructing the project on behalf of EYC Companies, whose portfolio includes upscale apartment complexes throughout the south.

Located about 40 miles from Myrtle Beach, Calabash has seen its population jump by more than 200 percent since 2000, according to Census data.