There were events all day to celebrate the grand opening.
The rain did put a bit of a damper on things, but it didn't stop hundreds of people from coming out for the ribbon cutting ceremony.
Market Common is marketed as a place for sophisticated dining, stylish shopping and urban living but city officials believe it'll be much more than that.
The ribbon was cut, the crowd cheered and now everyone is ready to shop, work and live at the beautiful Market Common in Myrtle Beach.
"It's a great thing for Myrtle Beach and the Grand Strand and as a matter of fact, it's a great thing for the whole state of South Carolina, because this is probably the nicest project in a long time," said Myrtle Beach Mayor John Rhodes.
The president of McCaffery Interests, the developer of Market Common, has seen the project grow from a blue print, to a reality.
"First they're on a piece of paper, then they grow and then you see how people love them. That's what makes you excited. I mean, it's not about you know, 'oh my god, isn't this marvelous.' It's looking at the people and seeing how excited they are," said Dan McCaffery with McCaffrey Interests.
Costing $600 million, and taking up about 120 acres, Governor Mark Sanford said the magnitude of the project was what brought him out today.
"It's further anchoring our place in the world, in being a great destination for people all around the world," Governor Mark Sanford said.
City officials can't help but to look forward to what the new urban village will bring to the area and said it's a sign of good things to come for the local economy.
"Is gonna be a turning point for the Grand Strand economy. The national economy isn't helping, but the Grand Strand is poised for some exciting things to come," said Brad Dean President of the Myrtle Beach Chamber of Commerce.
"It's gonna be the hottest spot there is in the state, I'm telling you right now," Mayor John Rhodes said.
In addition to the shopping village, the area also boasts 30 million dollars of new infrastructure, including 29 acres of lakes, several parks, and four miles of new roads.
Officials are already talking about the next phase of the Market Common project.
There'll be more shops on the west end of the village, soon to come.