|Call for Offers||2022-02-15|
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Flagler Village (the “Property” or “Site”), a ±109.50-acre residential development land site located in the city of Palm Coast, Florida, located between Jacksonville and Daytona Beach along Florida’s Atlantic coast. The Property has site-plan approval for 227 detached single-family homes sitting on 50’ x 120’ lots, making this a rare opportunity to acquire a near shovel-ready tract that allows for a purpose-built residential community of scale within one of the country’s hottest housing markets.
Flagler Village’s individual platting offers a developer flexibility to design the community as either a build-to-rent or build-for-sale development. Located within a 3-minute drive of the Town Center at Palm Coast, a 1,557-acre mixed-use development which is the heart of Downtown Palm Coast and within a 10-minute drive to Flagler Beach, Flagler Village is amenitized by a plethora of retail, dining and outdoor activities offering a fantastic quality of life. Additionally, the Site lies in between two of the most prominent highway systems on the east coast of the United States, I-95 and U.S Route 1, providing the Property with extraordinary connectivity.
AdventHealth , Flagler Health+ and UNF MedNexus, all located within a quick 5-minute drive from the Site, announced major plans to develop a $145 million hospital, another major hospital, and a state-of-the-art medical education complex, which will bring thousands of jobs to the market and position Palm Coast as an innovation hub for high-income med-tech jobs. Continuing the trend of economic expansion and job growth, Boston Whaler recently opened a 225,000 square-foot plant in 2021 within a short drive of the Site which will create 400 new jobs.
The Property’s strategic location within the booming Daytona Beach MSA, coupled with record institutional demand for SFR communities in Florida, position Flagler Village as a one-of-a-kind development opportunity in the fastest growing state in the country.
- Near Shovel-Ready: Project is site-plan approved for 227 detached single-family homes, making it tailor-made to fit the increasingly growing demand for low-density living.
- Fast-Growth Location: Located in the rapidly growing city of Palm Coast, which has grown more than 24% since 2010, nearly 300% faster than the U.S national average.
- Access & Connectivity: Close proximity to major highways including I-95 and U.S Route 1, offering superb connectivity to Jacksonville, Daytona, St. Augustine and Orlando.
- Healthcare & Education Innovation Hub: Palm Coast’s strong healthcare and education backbone has resulted in tremendous business growth of 11.2% since 2019, over $200M in new medical-oriented development projects, and thousands of new high income jobs - a trend that is expected to accelerate as the market continues to grow.
- Great Amenities Nearby: Located 10-minutes from Flagler Beach, and 3-minutes from Town Center at Palm Coast, home to Publix, Wal-Mart, Target and a plethora of dining and retail options - Flagler Village offers a lifestyle-driven location that serves as the perfect home for both young families and retired couples.
- Record Institutional Capital Chasing SFR: More than $40 Billion raised by institutional investors targeting SFR/BTR assets nationally, is driving aggressive competition and pricing for new-construction purpose-built SFR communities.