Palm Coast New Stores Update
Economic uncertainties have put several projects on hold.
Palm Coast, Florida – December 19, 2008 – Palm Coast, Florida now enjoys many new stores, restaurants, and hotels than just a few years ago. The increase was spurred by the phenomenal growth in the residential sector from 2001 to 2005. Now, with the home market bouncing along at the bottom, the commercial market is showing strains. Stores and restaurants looking to open in Palm Coast are either backing away from or delaying plans.
Restaurants
Although several readers have asked about rumors of a new restaurant coming to town, I’m unaware of any that have definitive plans.
Hotels
Days Inn’s final site plan was recently approved by the Planning and Land Development Regulation Board (PLDRB). The 60,000 square foot 4-story hotel with 199 rooms will be built at Exit 89 next to (north of) Home Depot. (Aerial view) (Planned elevation)
Stores
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ABC Liquors is working with City staff to gain approval for a store on the northeast corner of Palm Coast Parkway and Old Kings Road. A unique architecture has resolved store design issues. The main remaining issue is storm water management.
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Wal-Mart has pushed the planned opening for their new SuperCenter on Old Kings Road from 2009 to 2010.
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Best Buy and Dollar Tree will not be moving to Palm Coast soon. Unable to get commitments from the two stores, the developer has postponed construction of phase II of the Town Center Landings project which would have contained the two stores.
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Epic Theater postponed the planned commencement of construction of the 14 screen movie theater in Town Center until spring ’09.
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Although site development work is progressing, construction of Matanzas Pointe, the commercial development on the northeast corner of Matanzas Woods Pkwy and US 1 is delayed. At one point, Publix planned to build a store there, but their purchase of the Belle Terre Albertson’s caused them to reconsider.
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Kohl’s plans to open by March.
Commercial
New construction totaling about $20 million at the Palm Coast Data property on Commerce Blvd. should begin in the February/March time frame.
movie theater
It is very unfortunate that Epic has moved up their construction date until Spring 2009. We really need a movie theater in this community – more than we need another Wal Mart.
What about Kohls?
Toby, I still can’t figure out what Kohls plans to do with such a large store. Even if city growth had continued as it did through 2005, I’m not convinced it would have had enough business to justify its presence in "uptown" Palm Coast. Now with the economic downturn, competition from three Bealls stores and a new Belks, I can’t see an enormous Kohls doing well, even with a rebound in the economy. But greater minds than mine did the planning so I hope it works out well for the city in the long term.
Reply to H Gordon
I suspect Kohl’s is looking well beyond the current economic situation. Although economists only recently declared that we are in a recession, they believe the recession started over a year ago. Since recessions typically last only 18 months, we are approaching the end (although we won’t know it until several months afterward). Flagler County has nearly 100,000 people, enough to support a store of Kohl’s size. They will be drawing from shoppers who are currently going to Daytona, St. Augustine, or south Jacksonville.