In 2018, the Community Redevelopment Agency reevaluated Palm Coast's Town Center, located in the Community Redevelopment Area (CRA). The area has been largely infrastructure-ready for several years, yet, the vision for Town Center had never fully been realized. In over a ten year period, Town Center had only reached a 17% developed threshold at the beginning of 2018. Yet, with a fresh look at the area and new approach, the Agency made developing Town Center a high priority.
Through research and analysis, the Agency found that an Innovation District would not only be a great fit for growing Town Center, but also would be economically, socially, and culturally viable for the future for Palm Coast. As defined by the Brookings Institute, an Innovation District, "facilitates the creation and commercialization of new ideas and support for economies by growing jobs in ways that leverage their distinct economic attributes." For Palm Coast, we plan to build on the Innovation District vision by leveraging proximity, density, authenticity and fostering it to become an experiential-living hub where our residents can live, work and play.
The Innovation District is centrally-located in the urban core of Town Center. To kick start forward-thinking residential and non-residential developments within this area, it has been designated as an Opportunity Zone and a part of the Innovation Kick Start Program.
Innovation Kick Start Program
The Innovation Kick Start Program was created to encourage new development projects and business in the defined Innovation District, an area located in Palm Coast's Town Center. The Program is designed to kick start development that will facilitate the creation and commercialization of new ideas and support our economy by growing jobs in ways that leverage proximity, density, authenticity and progress by the end of 2020. Through the Innovation Kick Start Program, the City of Palm Coast will provide assistance towards utility impact fees to property owners, developers and/or business owners. For information on the Program's guidelines, requirements and process, click here.