Palm Coast and Flagler County Real Estate Tidbits: August 5, 2014

Local real estate news bits include an $875 million mortgage, Palm Harbor Shopping Center with a new name, Chick fil A, Palm Coast Landing Apartments, Grand Landings and Publix

Palm Coast, FL – August 5, 2014 – Real estate marches on in Flagler County and Palm Coast on several fronts. Here are a few highlights:

Palm Harbor Shopping Center
The site plan for the phased demolition and reconstruction of Palm Coast’s first shopping center has been submitted to the city for review. The project has a new name; “Island Walk at Palm Coast.”

Chick fil A
A resubmit of the site plan for a Chick fil A restaurant on the northwest corner of Palm Coast Pkwy and Boulder Rock is under review.

Humongous mortgage
Florida East Coast Railway LLC, operator of the rail line that makes its north/south passage through the county west of US 1 recorded a $875,000,000 mortgage. The grantee is Wells Fargo Bank National Association. The mortgage document is 211 pages long. I wonder what the monthly payments are. [site plan]

Palm Coast Landings Apartments
CPG Construction has been issued a commercial site development permit ($597,000) for a new apartment complex behind Target. Building permits ($4,165,795) have been applied for. When built out, the complex will have 61 apartments in two three-story structures and 12 units in six separate buildings in townhouse configurations.

Publix
Publix Super Markets purchased the Beach Village shopping center anchored by a Publix store for $10,850,000 from Red Palm Coast LLC. Red Palm will maintain ownership of the five remaining outparcels.

The Hammock at Palm Harbor
A modified site plan has been submitted for a new condominium building at The Hammock at Palm Harbor (southwest corner of Palm Harbor Pkwy and Club House Drive. The new plan deviates only slightly from the existing plan, providing a two car garage for each unit instead of the current one car garage configuration. The first floor unit will be reduced in size to accommodate the additional garage space. The other six 2,501 SF luxury units will remain the same.

Grand Landings
Texas-based JTL Grand Landings has purchased the remaining Grand Landing development, located off Seminal Woods Pkwy south of the Flagler Airport from Citation Boulevard Investments LLC for $3,349,000. JTL also bought nine individual Grand Landing building lots from ML Carter Development Corp. for $315,000. Both Citation and Carter share the same Orlando address. When announced in November 2006 by the now bankrupt Landmar Group, Grand Landing was to include an 11-court tennis center and a fly-in community.