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PALM COAST, FL – August 19, 2020 – Four production builders have taken a stake in the first phase of Sawmill Creek, the first residential development in Palm Coast Park to go vertical. Phase 1 is approved for 259 single-family homes. Palm Coast Park is a large Development of Regional Impact (DRI) situated on both sides of US Route 1 between Hargrove Grade to Old Kings Rd N.
SAWMILL CREEK NORTH ENTRANCE
The 4,700-acre Palm Coast Park DRI was approved in 2004. Sawmill Creek was the first residential community within the DRI to be announced in 2007 when Lowe Destination Development purchased the property for phase one of Sawmill Creek from Allete Properties for $13,055,000. Sawmill Creek was originally envisioned for 1,469 housing units, commercial space, and a Jim Furyk signature golf course to be developed in phases.
SAWMILL CREEK SOUTH ENTRANCE
Other than the two dueling sidewalks to nowhere on either side of Route 1, the DRI remained stagnant until Douglas Properties and Development took over the management and disposition of both Palm Coast Park and sister DRI, Town Center, from Palm Cost Holdings. Since then, all the Palm Coast Park residential entitled property, and most of the commercial entitlements have been sold or are under contract. The current Sawmill Creek developer, Palm Coast Florida Holdings, purchased the property in 2017 for $5,300,000. The new developer's plan will contain approximately 2,000 homes and townhomes upon buildout.
Recent builder transactions:
Several models and specs are under construction at the site west of Route 1 and north of Matanzas Woods Pkwy. The developer has completed the planning and approval process for phase 2 which is approved for 493 mone sites. Site development work is underway.
SAWMILL CREEK MAP (WEST OF US 1 (red) - MATANZAS WOODS IS ON THE RIGHT)
Toby Tobin: REALTOR®
I'm a licensed Florida REALTOR® affiliated with Grand Living Realty in Palm Coast, Fla. As a real estate consultant to developers/builders, homebuyers, and sellers, and as a journalist, I have years of experience and a treasure trove of relevant data and local institutional knowledge.
Call me at (386) 931-7124 or email me at Toby@GoToby.com.
Listen to my radio show, Real Estate Matters, every Saturday morning right after the 11:00 A.M. news break on WNZF News Radio at 1550 AM or 94.9 FM. Download the Flagler Radio App from the App Store so you can hear Real Estate Matters from anywhere in the world.