Lot 3, A Planned 306 Unit Apartment Site
Listing was updated at: 04/19/2019
Property Overview
Price/Rent PSF $ 4,437,000.00
Asset Type Land
Trade Type Sale
Acres Available 25.00
Date Available 04/19/2019
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Description

Location
Pine Lakes Pkwy, north of Palm Coast Parkway. Site is adjacent to Pine Lake Apartments.

Sale
Lot 3 is a 25+/- acre planned multifamily development site in Palm Coast, FL tentatively named Palm Coast Apartments. The site is located on Pine Lakes Parkway approximately 0.5 miles north of Palm Coast Parkway, which is the primary east/west road in Palm Coast. The property has an enviable location near the major shopping centers, restaurants and recreation of the area. It offers quick access to both I-95 and US 1 and is just 4.5 miles from the beach.

The 25+/- acre site has been designed and planned for 306 garden-style apartment units. Charlan Brock & Associates of Orlando is the project architect and has created a plan with the ideal mix of unit types and sizes. The project consists of 14 two, three and four-story buildings along with a clubhouse and other desirable amenities. It offers 106 one-bedroom, 170 two-bedroom and 30 three-bedroom units. Parking is ample with 556 provided spaces (including 76 enclosed garages).

Flagler County was named the FASTEST GROWING COUNTY IN THE ENTIRE US in 2006 and continues to bring in new residents, business, shopping and entertainment during this recovery. The current population is over 110,000 residents and there are only 1, 147 apartments in the entire county to service these residents. There exists a HUGE DEMAND for additional apartments in Flagler County! Only two market-rate, garden-style apartment projects have been developed in the last 20 years (one of which is a converted condo). Both of these apartment complexes are at full occupancy and have waiting lists that are many months long. This Lot 3 multifamily site represents a tremendous opportunity to fill that void.

SVN Alliance has been retained as the exclusive listing agent to market and sell this exciting development site. Interested parties are encouraged to contact us to further discuss the property in detail. The site can be delivered as-is for you to complete with your development team or fully entitled. Seller financing and/or JV opportunities will also be considered.

Location