917 11th Avenue West

Apr 22

Written By Madison Capital Group

$5,500,000

917 11th Avenue West, Palmetto, FL 34221

Lot Size: 10,000 SF

Building Size: 5,190 SF

Zoning: R5

Unit Mix: 7 (1BR), 1 (2BR)

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MCG Realty Advisors is proud to exclusively present – Heartland Grove. Offering one of the most unique opportunities to purchase a completely entitled and approved multifamily development project in the heart of the expanding City of Palmetto, Florida.

Located several blocks from the historic Riverfront and downtown districts, this dynamic project will comprise a total of 204 units across four stories including surface parking with private garages.

The premier Class-A project is situated on an expansive 10.81-acre lot and will offer a range of unit types including studios, one-bedroom, two- bedroom, and three-bedroom units. Amenities include expansive pool with state-of-the-art clubhouse and gym.

The project’s premier location in the historical city of Palmetto provides a fully walkable lifestyle with close proximity to the quaint downtown and historically significant architecture and landmarks. Easy access to the bustling riverfront and crystal blue beaches along the Gulf of Mexico offers a truly wonderful coastal lifestyle.

The property has also secured very favorable Tax Increment Funding (TIF) in the amount of up to $10,000,000, providing a unique development opportunity because of the ability to get in at a lower basis than future competitive projects. TIF is a special funding tool available to local municipalities that spurs economic development within the City of Palmetto Community Redevelopment Areas.