Agreements signed to bring national retailers, restaurants and movie theater to Palm Coast

PALM COAST - A night out with dinner and a movie, all within walking distance in the new downtown area of Palm Coast? Design plans are taking shape with developers announcing this week two agreements that will bring national retailers, entertainment and restaurants to the Town Center at Palm Coast.

Palm Coast Holdings Inc., developer of the Town Center at Palm Coast, signed an agreement with Developers Realty Corporation to develop restaurants and retail stores at two Town Center sites - the urban core area and the “Power Center” site, a 50-plus acre site on the corner of Belle Terre Parkway and State Road 100.

Developers Realty, a 47-year-old West Hartford, CT company, owns and operates 30 successful shopping centers in 10 different states, and is currently developing three new centers in Florida, according to Joe Baranowski, president and COO.

He said the company specializes in developing similar “lifestyle centers” with pedestrian friendly walkways, leisure space, convenient access and ample parking. “The Town Center at Palm Coast has all of the elements that both retailers and residents are looking for.”

“We are very excited about it,” he said. ”With the fast growth in Flagler County, combined with the many components the Town Center offers - government facilities, along with commercial and office space, plus residential - this is an amazing project.”

And, he added, “it will bring jobs to the area, strengthen the City's tax base, and provide the shopping and entertainment local residents have been demanding."

Developers Realty will bring both medium and large size national retailers along with national restaurant franchises to the Power Center , as well as new businesses on the multiple out parcels, according to Dave Lusby, Palm Coast Holdings Vice President, Commercial Land Sales.

Lusby said fine restaurants and retail stores are also planned for the urban core - the downtown area - where seven projects, including a boutique hotel and a spa, have already entered the design stage.

Lusby also announced an agreement this week with Epic Theatres, Inc., a privately held motion picture theatre operator based in DeLand, FL that will work with Developers Realty to bring a state-of-the-art movie theater to the downtown area.

The theater, according to Frank DeMarsh, Epic Theatres president, will feature 14 screens with stadium style seating and Dolby Digital sound. The design criteria for the theater facility will be specific for the Town Center project, blending in with the unique character of the downtown area, he said.

“We’re expanding significantly in Florida,” he said. “And we are very excited about the Palm Coast project.”

Along with the new theater in Palm Coast, Epic Theatres' projects currently under development include a trio of 16 screeners in St. Augustine, Deltona and the Orlando suburb of Clermont. In addition to its Sunshine State projects, Epic is currently constructing a 12-plex in Hendersonville, NC. All of the Epic developments are slated to anchor major mixed-use projects in their respective markets.

Developers Realty is also working with Epic Theatres on the Deltona shopping complex, according to Baranowski. And, along with other new centers, the company has started New Town, a project in Williamsburg, VA that includes fine restaurants combined with premier specialty shops and a stadium style theater, similar to the Town Center at Palm Coast.

“With all of these projects we team up with local professionals - engineers, real estate consultants and others that know the area,” Baranowski said. “Matching the characteristics of each marketplace results in an exciting blend of national, regional and local merchants,” he added. “It’s a combined effort.”

Baranowski said Town Center at Palm Coast with more than three million square feet of commercial space puts this project into a different category than most of the others his company has worked on. But, he said, “we are ready and plan to hit the ground running with signs going up on the properties this month and plans formalized during the latter part of this year.”

“There is a tremendous amount of interest in the development. All roads lead to Town Center. It is the ideal location geographically - in close proximity to Flagler Beach and Bunnell, as well as I-95. And, with traffic improvements along Belle Terre, S.R. 100 and Seminole Woods Parkway either completed or underway, it will be easily accessible to both residents and visitors.”

Palm Coast Holdings, is a subsidiary of ALLETE Inc., a Minnesota corporation.