Branch Properties, LLC, an Atlanta-based, privately held, real estate investment firm, launches the redevelopment of Palm Harbor with the start of Phase I construction. The $40.8 million development plan is set to transform the 28.7-acre lot into a high-quality shopping experience to be known as Island Walk. Once completed in 2016, the new retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the City’s original core.
“Island Walk is the catalyst that will re-infuse this corridor with the energy originally ignited in the ‘70s,” explains Nick Telesca, president, Branch Properties, LLC. “Once completed, Island Walk will once again be a popular destination with household names in retail – many that are not currently in the market – and casual dining.”
Construction is slated to begin early November with the demolition of the buildings to the west of the existing Publix Super Markets and the eastern portion of the central shops. Phase I of Island Walk, which includes the majority of small shop tenants, is expected to be completed Spring 2015 followed by Phase II with Publix and additional small shop space by Fall 2015. The final phase to the east of the new Publix is expected to be complete by mid 2016. Continue reading