Real estate developers St. Joe Co. and HomeCorp agreed to construct an additional 120 apartment homes at Pier Park Crossings in Panama City Beach, Fla., adding up to 360 units at the site.
The initial phase of the planned 240 apartment homes is under construction, with 192 units completed so far and nearly 100%-leased. The remainder are expected to be completed in December.
Site work on the second phase is underway, and the apartment homes will be ready for lease in late 2020.
The Pier Park Crossings site, on North Pier Park Drive, offers one-, two- and three-bedroom apartment homes, and community amenities including a swimming pool and a theater room.