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PALM COAST, FL – June 8, 2018 – Based in Charlotte, N.C., SunBelt Land Management, is betting big that Flagler County’s future is bright. The company recently closed on the purchase of acreage on either side of John Anderson Highway once marketed by Bobby Ginn/Lubert-Adler (Ginn-LA) as The Gardens at Hammock Beach. The $11,500.000 sale closed May 24.
SunBelt has a long history in Flagler County beginning with the development beginning in 2001 of Palm Coast Plantation, a private, gated Intracoastal Waterway community on Colbert Lane. SunBelt’s latest purchase reaffirms the company’s commitment to Flagler County where it has three other large projects in various stages of planning or development. SunBelt manager, Ken Belshe says, “We are a large, well-established regional developer. We could have chosen any place in the southeast to invest our money. We chose Flagler County.” SunBelt has purchased nearly 3,000 acres in the county within the past ten months.
GARDENS AT HAMMOCK BEACH PARCELS
The Gardens at Hammock Beach was master planned and approved for 453 residential units and 230,694 square feet of commercial space. Its 2,000 acres straddles John Anderson and is bordered on the east by the Intracoastal Waterway and on the west by Bulow Creek. It was to feature a Fred Couples Signature Golf Course plus:
Homesites were available from about $500,000. Unlike previous Ginn sales launches that famously sold out in one weekend, the Gardens launch yielded only 14 lots sales. The bubble had burst, and the project was put on indefinite hold. To make the property more marketable to other developers, Lubert-Adler reacquired the 14 lots and vacated the plats, creating a clean slate for potential developer/buyers. Enter SunBelt.
SunBelt’s plans for the new acquisition are still formative, but Belshe indicates that the yet unnamed development will not include a golf course; a lesson learned in the wild west days of 15 years ago.
Launched in February at an invitation-only event, Marina del Palma is the first of the four local SunBelt projects to reach the market. It’s master-planned as a private, gated 109-acre nautical community where each homesite has a slip in the private boathouse and membership in the private marina club. Direct unobstructed access to the ICW is only a few minutes away.
The 154 residential lots are currently being sold (several sales have already closed) and the marina is under construction. A later phase will include 461 multi-family units that will have their own amenities; to not conflict with the homeowners’ marina club. Frontage on Colbert Lane is reserved for 45,738 square feet of commercial space. Marina del Palma website
MARINA DEL PALMA SITE MAP
This 182-acre multi-use project is located between Colbert Lane and Roberts Road. A Master Planned Development order was recently issued that entitles SunBelt to develop a maximum of 1,5000 residential units and 422,288 square feet of commercial space. The property was acquired in October 2017.
COLBERT PRESERVE - ROBERTS POINTE SITE MAP
Last August, Sunbelt acquired 790 acres of land within the Palm Coast Park Development of Regional Impact (DRI) which straddles US 1 from Hargrove Grade to Old Kings Road. The acquired property is on the west side of US 1 and immediately north of Hargrove Grade. This property is entitled for 400 single-family and 400 multi-family units.
Toby Tobin: REALTOR®, SRES®
I am a REALTOR® licensed by the State of Florida and Seniors Real Estate Specialist, SRES®, with Grand Living Realty, where 'The GoToby Team' helps fellow aged 50+ buyers and sellers achieve improved outcomes in real estate transactions by integrating real estate decisions 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.
Be sure to listen to my radio show, Real Estate Matters, every Saturday morning right after the 11:00 A.M. news break on WNZF News Radio (1550 AM or 94.9 FM). Download the Flagler Radio App from the App Store so you can hear Real Estate Matters anywhere in the world.