Project Delivers Workforce Housing Through Collaboration With the City of St. Augustine
ST AUGUSTINE, Fla. – Corner Lot is proud to announce the completion of Flagler Crossing Phase II, a 180-unit multifamily community located along the San Sebastian River within the St. Augustine city limits. The project is anticipated to receive its final Certificate of Occupancy by the end of December, marking a major milestone in the continued expansion of attainable and workforce housing in one of Florida’s most historic and fastest-growing communities.
Building on the success of Flagler Crossing Phase I, the second phase adds six three-story garden-style buildings and 213,564 square feet of residential space, as well as access to the community’s shared amenities, including a resort-style pool, state-of-the-art fitness center, staffed leasing office, walking trails, garages, and connectivity to the San Sebastian River.
With a development cost of $42 million, Flagler Crossing Phase II continues Corner Lot’s commitment to expanding quality housing options for working families. At least 50 units in the community will be designated for households earning between 85% and 120% of the area median income (AMI), a workforce housing component made possible through strong collaboration with the City of St. Augustine. This designation aligns with reporting from regional sources highlighting the community’s affordability commitments.
“Completing Flagler Crossing Phase II is an exciting step forward for both our team and the St. Augustine community,” said George Leone, Chief Operating Officer at Corner Lot. “This project reflects our long-standing commitment to delivering high-quality, attainable housing while partnering closely with the City to meet the needs of the local workforce. We are incredibly proud of our team, our contractors, and our financial partners who helped bring this vision to life.”
Through the partnership with the City, Flagler Crossing continues to serve as a model for public-private collaboration to address regional housing challenges.
“Corner Lot has been a strong partner in supporting the City’s goal of increasing workforce housing, and Flagler Crossing Phase II is a great example of what can be achieved when the private and public sectors work together,” said Billy Zeits, Executive Vice President of Government Affairs. “These units will help ensure that St. Augustine’s essential workers — the people who keep our community running every day — have access to high-quality homes they can afford.”
Flagler Crossing Phase II is the fourth Corner Lot multifamily community funded by First Coast Real Estate Partners, with debt financing provided by Trustmark Bank, marking their fourth collaboration with Corner Lot. The project team includes Summit Contracting Group, Inc. as the general contractor, Group 4 Design as the architect, and Gulfstream Engineering as the civil engineer.
With Phase II now complete, all 510 units across both phases are planned to be marketed for sale as an attractive opportunity for investors seeking stable multifamily assets in a high-growth market.
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About Corner Lot
Corner Lot is a Jacksonville-based real estate development firm specializing in residential, commercial, and mixed-use communities. With a focus on purposeful planning and partnerships, Corner Lot is dedicated to creating spaces that enhance the way people live, work, and connect throughout the Southeast. Learn more at: www.cornerlotdevelopment.com