Palm Coast Park Mixed-Use Development Progress

Long in the planning and permitting stages, progress on Palm Coast Holding’s next mega project becomes more visible.

Palm Coast, Florida – December 11, 2008 – Several GoToby.com readers have asked about the construction activity along US 1 at Matanzas Parkway. Like the walkway with wooden overpasses which now snakes along US 1, the site development work is part of Palm Coast Park. Palm Coast Park is a multi-use Development of Regional Impact (DRI). Essentially following both sides of US1 from just north of Palm Coast Parkway to Old Kings Road, it combines residential, commercial and industrial components, much as does Town Center, another of Palm Coast Holdings’ developments.
 
The final plat for Matanzas Pointe (aerial map) at the north east corner of US 1 and Matanzas Parkway was granted by the City of Palm Coast at their October 21st meeting, clearing the way for site development work. The site plan for Matanzas Pointe incorporates six separate parcels:
  • Parcel 1 – 1.64 acres
  • Parcel 2 – 1.145 acres
  • Parcel 3 – 1.187 acres
  • Parcel 4 – 1.257 acres
  • Parcel 5 – 14.383 acres
  • Parcel 6 – 18.96 acres
The property is zoned commercial. It will be an upscale commercial center. I know this because of the "e" at the end of Pointe. It was recently expected that Matanzas Pointe would be the location of Flagler County’s next Publix anchored shopping center. Publix’s purchase of the Albertson’s store on Belle Terre makes this less certain. The southeast corner of US 1 and Matanzas Woods Pkwy is also zoned commercial.
 
The site work and road construction on the west side of US 1 are also part of Palm Coast Park. The property fronting US 1 is zoned commercial while the property to the west is zoned industrial. No detailed plans have been announced for this property.
 
To the north, along the west side of US 1, Sawmill Creek will be developed. While construction has been delayed by market conditions, the developer is moving forward with planning and marketing. The final product will be a residential golfing community surrounding a Jim Furyke designed golf course. It will also contain a commercial component for retail, restaurants, and offices. The immediate future of a LandMar developed residential community on the east side of US 1 and adjoining the Matanzas golf course (currently closed) is less certain.
 
The entire project encompasses 4,700 acres. The development order has entitled:
  • 3,600 Residential units (1,469 granted to the Sawmill Creek PUD)
  • 800,000 square feet of office space
  • 1,500,000 square feet of retail commercial space
  • 800,000 square feet of industrial space
  • 100,000 square feet of institutional space (school)
For further details about Palm Coast Park including a video tour, click here.
2 replies
  1. Lou M.
    Lou M. says:

    More of the same.

    The supply of real estate just keeps growing.

    Does anybody spend just one second to think where the demand will be coming from?

    Over supply of real estate is depressing the current real estate prices in Flagler county!

    Who will be paying the price for this over supply? Yes, you and me.

    I am disgusted with this brainless develop at price philosophy!

    We must learn to balance the supply and demand scale.

  2. George Edward Chuddy
    George Edward Chuddy says:

    More of the same ‘B’

    Yes, Lou M. The Size of real estate indeed just keeps growing. Perhaps it can be succinctly said this way from the ‘Florida Public Offering Statement’ filed and effective July 30, 1971: ‘…Palm Coast is the first development of the Company. The Company plans to develop 20,000 acres in Palm Coast at present and may develop substantial additional acreage of contiguous lands held within the ITT system. …’ Part 1, page 3 LANG USE: ‘…The property is being offered for use as residential homesites. Certain areas of the property have been set aside for multi family use, and these have been so noted in the Covenants and Restrictions recorded in Flagler County…’ Remember the city of palm coast Business Enterprise is merely 68,000 whereas the Gargantuan Palm Coast is 100,000+ Acres and that is a lot of annexation – …’squaring off the boundaries…’ ( from the city of palm coast Business Enterprise 5 year FLUM plan ). and a long way still to go Lou. Perhaps there is something in the 5 year plan since that is part of Growth – so Hang in there Guy!
    Happy Holidays Everyone,
    Regards,
    George Edward Chuddy
    https://palmcoastcorehomes.tripod.com
    chuddy@bestnetpc.com

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