PANAMA CITY BEACH, Fla. - St. Joe Company and a housing company called HomeCorp broke ground for a new apartment complex called 'Pier Park Crossings.'
The new complex is located just behind Frank Brown Park, across from Palmetto Trace on North Pier Park Drive.
The $37 million project will have 10 buildings that are three stories tall and have 24 units each once complete.
Construction is being divided into two phases with 240 units in the first phase, and 120 in the second.
"We think there is a demand for rental housing for apartment projects, particularly in close proximity to Pier Park. The Pier Park area has a lot of jobs and there's not a lot of housing options in terms of rental housing, so we thought the market was just right for this project at this location," St. Joe Company President, Jorge Gonzalez, said.
The apartment complex is expected to be open by early 2019.
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