Source: The St. Joe Company
WATERSOUND, FL - The St. Joe Company and HomeCorp announce the construction of an additional 120 apartment homes at Pier Park Crossings in Panama City Beach, Florida. These apartment homes are currently under construction and once complete will bring the total number of units in Pier Park Crossings to 360.
In June of 2018, St. Joe and HomeCorp began the construction of the first phase of apartment homes at Pier Park Crossings located on North Pier Park Drive adjacent to Frank Brown Park. Plans for the initial phase called for 240 apartment homes. Currently, 192 of these units are complete and nearly 100% leased. Plans call for the remaining units to be completed in December.
“Demand for high quality apartment homes at Pier Park Crossings has been extremely strong since we announced the first phase of the project,” said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. “We decided to commence construction on a second phase while the initial 240 units are being finished in order to keep up with the demand.”
Pier Park Crossings offers one, two and three bedroom units featuring nine-foot ceilings, screened balconies, a washer/dryer and granite countertops. Community amenities include a zero-entry saltwater swimming pool, 24-hour health and fitness center, a theater room and children’s playground. Included in the plans for the second phase of construction are an additional zero-entry saltwater swimming pool and an amenity center.
“The response that we’ve seen at Pier Park Crossings from prospective tenants has been very positive,” said Herbert Scheuer, Principal of HomeCorp. “Given the demand for high quality apartment homes in Panama City Beach, now is the right time to begin construction on these additional 120 units as leasing activity continues to be very strong.”
Site work on the second phase is currently underway. Plans call for these apartment homes to be available for lease in late 2020.