SweetBay is a major project expected to significantly boost recovery efforts for Florida’s northwest region devastated by Hurricane Michael less than a year ago
Panama City, Fla. (July 23, 2019) – SVN will be leading the marketing efforts for the development of the SweetBay Town Center in Panama City. SweetBay is one of the largest urban infill projects currently underway in Florida. Community leaders are expecting it to significantly boost recovery efforts for the state’s northwest region battered by Hurricane Michael, which made landfall last October as a Category 5.
The St. Andrew Bay Land Co., part of HomeFed Corp., developed the concept for the SweetBay Town Center a few years before the hurricane struck. With 3,200 residential units approved for building, the 700 acres will be the core of the existing SweetBay Planned Development Community built on the site of the old Panama City Regional Airport. Many of the homes have already been sold during the initial phase. A 300-unit Class A apartment project is also planned.
SweetBay’s amenities include five miles of bay access to residents, a planned marina village, nature trails, an initial pool and sports court, and the University Academy – Florida’s top-ranking free K-8 public charter school in 2018.
SVN experts in land, marina, retail and multi-family from around the state have commenced marketing efforts to bring the project to fruition. Leading the team of five SVN offices involved in the effort is SVN Lotus.
“This is such a remarkable community and we’re delighted to be involved in this effort,” said Ashley Bloom, SVN Lotus managing director. “It’s a gem on the shoreline, a wonderful place for families to raise children. With the bay access, there’s a host of recreational activities available. People can access the Town Center easily, via golf carts – its good living.”
The SweetBay Town Center project has created much-needed excitement and support from the Bay County Economic Development Alliance, Destination Panama City, elected officials, businesses, community leaders and citizens.
“SweetBay is a vital part of Panama City’s rebuilding effort, which is more than just a restoration: We’re growing our economy and community to become the premier city in the Panhandle,” said Mark McQueen, city manager, Panama City. He added that the effort will include the addition of multi-family housing, boutique retail shops, restaurants, coffee shops, gyms, a grocery store and more.
“We plan to attract commercial industries, such as retail, hospitality, aviation, maritime, manufacturing,” he said. “These are all desperately needed for Panama City to thrive.”
“We’re so looking forward to the continued development of this community and working with the people at SVN,” said Jacob Fish, director of development, St. Andrew Bay Land Company. “SweetBay is one of the Florida Panhandle’s premier spots to live, and we’re encouraged to see all the plans in store for this community. The future here is exciting.”
SVN, a commercial real estate brokerage firm headquartered in Boston, is one of the industry’s most recognized and powerful brands based on the annual Lipsey Top Brand Survey and Commercial Property Executive Magazine. With more than 200 locations in 500 markets, SVN Commercial Real Estate Advisors provide sales, leasing and property management services to clients worldwide. The Florida team consists of more than 100 advisors serving locations across the state. For more information on SVN Florida, visitwww.svnflorida.com.