Project details

Flagler Village apartments

The loan is secured by Morgan’s development site at 400 Northeast Third Avenue, which measures just below 3 acres and occupies nearly the entire block. There, the developer is planning a 350-unit rental complex with 525 parking spaces and roughly 4,000 square feet of ground-floor retail space. Its apartments will range from studios with 575 square feet to three bedrooms and 1,699 square feet. Residents will have access to a pool, dog park, bike rack and 6,700-square-foot amenity room. Construction is set to begin immediately, according to a notice of commencement filed with the county. A development application submitted to city officials shows the project’s total costs, including the $16.5 million Morgan spent on land, is estimated at $75 million.

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