PALM COAST, FL – January 25, 2018 – Bunnell, in a welcome move reported by FlaglerLive, has approved a 240-unit apartment complex. The 10-building compound will be sited on 40 acres located on the north side of SR 100 between Palm Pointe Condominiums and the SR 100 entrance to Grand Reserve in Bunnell. It will be called Shadetree at Bunnell and be developed by Tampa-based Framework Group.
The Bunnell Planning Board approved a height increase from the allowed 35-foot limit to 42 feet, which permits a third floor on each structure. The units will range from 760 to 1,350 SF. Rents will average about $1,300 per month, according to the FlaglerLive report.
Housing affordability has become an issue in Flagler County with escalating home prices driving up housing costs to both homeowners and renters. Both Palm Coast and Flagler County codes require a minimum single-family home size of at least 1,200 SF with a two-car garage. These limits combined with restrictions on height and density for multi-family structures have discouraged the kind of housing diversity needed to support a socially balanced population.
Fifty years after its inception, we continue to expand on ITT’s original plan for Palm Coast. This has led to counterproductive sprawl with limited housing options beyond the area’s typical 3 to four bedroom, two to three bathroom home with a two-car garage.
Although the projected market rate rental at Shadetree is not necessarily “affordable” for many, it should act as a wakeup call to Flagler County and Palm Coast, neither of which have issued a permit to construct any new multi-family structures since Palm Coast Landing Senior Apartment (62+) was permitted in November 2014.
Toby Tobin: REALTOR®, SRES®
I am a REALTOR® licensed by the State of Florida and Seniors Real Estate Specialist, SRES®, with Grand Living Realty, now helping fellow aged 50+ buyers and sellers achieve improved outcomes in real estate transactions by integrating them with other age-related decisions/plans through my broad network of respected service providers; financial, wills, trusts, probate, insurance, healthcare, home services, recreation, lifestyle, estate planning, and adult living facilities.
Take advantage of my "Been there. Done that." experience, typically at no additional cost to you. Call me at (386) 931-7124 or email me at Toby@GoToby.com.