Palm Coast Holdings Updates Commercial Realtors® on Town Center Status
After 10 years of planning, permitting, and site development, progress is now evident.
April 17, 2008 – Palm Coast, FL – Dave Lusby, V.P. of Palm Coast Holdings, the developer of Town Center, updated the Commercial Committee of the Flagler County Board of Realtors® at their monthly meeting yesterday. Although some developers have slowed plans due to the economic downturn, this will still be a significant year for construction in Town Center at Palm Coast, FL.
Developing something the magnitude of Town Center from raw land takes time. In fact, Palm Coast Holdings began the project 10 years ago. Since, it has gone through many steps:
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Gained approval for a DRI (Development of Regional Impact)
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Created a PUD (Planned Unit Development), and to rezone the land and entitle certain uses for the newly platted parcels
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Created a CRA (Community Redevelopment Area) to enable the additional taxes generated within the CRA to be used there
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Created a CDD (Community Development District) which owns and is responsible for the common areas within Town Center
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Jumped permitting hurdles with the City of Palm Coast, the Army Corps of Engineers, and St. Johns Water Management District
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Developed the site
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Installed the infrastructure (water, sewer, power, etc.)
Town Center continues to be a work in process. Lusby estimated that it could take another 15 years to build out, but here’s an update on where the development stands at this point.
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The Publix Plaza on Belle Terre is complete except for a few out parcels where banks plan to build.
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The Landings at Town Center (big box retailers), anchored by SuperTarget is well underway. Target plans its grand opening to coincide with the opening of other stores (PetsMart, TJ-Max, Ross, Michaels, and Books a Million) in late July. Construction of a McDonalds restaurant has begun on an out parcel.
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Construction of the 14 screen Epic Theater is near. They have paid their impact fees and a building permit is expected soon. The theater complex will also include 17,000 square feet of retail/restaurant space. The Epic Theater will be within the Town Center core. Its facade is designed to replicate that of the old Athens theater in Deland.
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Permits for City Center, a 3-story mixed-use structure located within the Town Center core are expected in May. The 50,000 square foot building, developed by Michael Chiumento, will house Chiumento’s law firm and Palm Coast Holdings on the third floor. 16,000 square feet of office space will be available on the second floor. The first floor will be retail and high-end restaurants. -
Construction has begun on Union Plaza, a 27,200 square foot building designed for general office and medical related businesses.
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Construction of the Hilton Gardens Inn is well underway.
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Construction has also started on a 130 unit independent living facility next to Union Plaza. The units will be rented on a monthly basis.
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Palm Coast Medical, the large doctor owned and occupied structure west of the hospital is complete and being occupied.
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Brookhaven, a village of ranch condominiums with an amenity center has 17 units completed and ready to occupy. (see related story).
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Construction should begin within months on a new Charter School within Town Center.
The City of Palm Coast is evaluating options to enable a new city hall to be built within the Town Center core sooner rather than later. They do not want to replicate the Flagler County government complex. They are taking a close look at a down-sized city hall with room only for officials and staff that are needed at the central location. Others would be located in less costly structures outside Town Center (for instance, water department near the water plant).
Lusby relayed some good news unrelated to Town Center. Construction is expected to begin soon on Beach Village, the new Publix anchored shopping plaza at SR 100 and Roberts Road in Flagler Beach. Publix also notified Palm Coast Holdings that they plan to proceed with another new plaza on the northeast corner of US1 and Matanzas Woods Pkwy. Construction at that location, part of Palm Coast Park, another Palm Coast Holdings development, may commence even before the Flagler Beach plaza is completed.
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