Developing Developments in Palm Coast and Flagler County Housing Market

Signs of an emerging residential real estate market continue to become apparent.

Palm Coast, FL – December 20, 2012 – If you’ve traveled A1A through Beverly Beach lately, you may have noticed that Sunset Inlet is coming out of the ground again. The property, which fronts A1A and extends to the Intracoastal Waterway, is about 2.5 miles north of Flagler Beach. It was purchased in October from Sunset Inlet LLC by D.R. Horton for $1,500,000. Sunset Inlet LLC acquired the property via Peoples First Community Bank in 2011. People’s First acquired it via a deed in lieu from Shelter Cove Investment Group LLC in 2008.

D.R. Horton affiliate, Emerald Homes, will be the developer with Jim Cullis acting as Development Manager. Grand Haven Realty, also owned by Cullis, has an exclusive agreement to manage sales and marketing for the community. Each of the 31 new homes will have its own private dock in a protected inlet off the Waterway.

Emerald Homes plans to have the new Sunset Inlet model home and sales center open for people to tour by the 2013 summer season. The homes being designed will range from 1,800 to 2,900 square feet with prices anticipated to start in the $300s.

The Conservatory, a 340 lot golf community, originally conceived and developed by Bobby Ginn, is showing signs of new life. For years, the beautiful Tom Watson-designed golf course has been surrounded by four builder models, one private dwelling and 335 vacant lots.

On behalf of Lubert-Adler, Bobby’s former financial partner, Front Door Communities and Luxury Team of Florida Real Estate Group announced a repositioning of the community in June, selling house/lot packages starting in the low to mid $300s. Their efforts are paying off. Building permits for two new homes have been issued respectively to Gold Coast Home Builders and Charles Rinek Construction. Bellagio Custom Homes, Seagate’s luxury home division, will be next.

Hidden Lakes, developed just as the real estate bubble burst, is humming with business today. Led by builders D.R. Horton and Paytas Homes, construction of several new homes can be seen in the first of three phases. When built out, Hidden Lakes will have 354 homes. Hidden Lakes is on Old Kings Road near the "back entrance" to Town Center and Lehigh Valley Trail.

As mentioned in my previous news item, the Eagle Lake development in the southern part of Flagler County on Old Kings Road (between Old Kings and I95) has traded hands. Phase one of the development was designed for 111 building sites.

And the good news continues. Phase I of Tidelands, once known as Village at Palm Coast, is seeing renewed home construction. About one third of the 152 single-family homesites already had homes. The Homeowners Association recently approved plans submitted for three new homes in the gated community, where many homesites front the Intracoastal Waterway or a salt water canal. One new home is already under construction.

As noted in the GoToby.com July Newsletter, Beach Haven, near Marineland on A1A, is being remarketed by CBV Homes with construction underway.