by Fred Seely, Editor
Palencia’s real estate office is looking forward to many more years of successful marketing and sales under the ownership of the original Hines partnership. In addition to Palencia Realty, the Hines partnership will continue to proceed forward with development and sales of the residential and commercial land within Palencia.
The high-end development north of St. Augustine will soon welcome a new course owner, Randy Frankel, and the management of Jacksonville’s Hampton Golf. However, the real estate will remain under the management of the Hines’ team that birthed the project back in 2001 and has managed the design, construction and sales of one of the most innovative and successful master planned communities in Northeast Florida.
A story in last month’s issue erroneously indicated that Frankel also would control the real estate as well as the golf course.
“We’re moving ahead as always with Hines,” said Naomi Lumley, the broker at Palencia Realty. “There are some exciting things going on here. Sales are up and next month one of our builders, Arthur Rutenberg, will introduce a wonderful new model.”
The golf course is expected to soon be turned over to Frankel, who has used the proceeds of the sale of his Wall Street firm to invest in various high-end properties including golf courses, a resort and even part of the Tampa Bay Rays baseball team.
“I’ve toured the property several times and it’s incredibly beautiful,” said Frankel. “The course is gorgeous. I’m a member at Olde Memorial in Tampa and it reminded me of that.”
The course was designed by Arthur Hills and opened in 2002. It winds through woods and wetlands and has been the site of major local events. One of the most unique attributes of the Palencia is the manner in which the interaction between the golf course and homesites has been handled. Homesites are set back from the course with wooded buffers between the golf playing area and residents backyards, which provides privacy for homeowners while still enjoying views of the spectacular course.
The lots and homes listed with Palencia Realty are marketed by Lumley and her partner, Pud English, both of whom started with Hines in 2001. There are also two agents from The Legends of Real Estate, Joan Hewins and Joanna Denny who work with Pud and Naomi and specialize in resale listings.
“Our preferred builder program is going well as there are great deals to be had in new construction,” said Lumley. “The opening of Palencia Elementary and a new fitness center in the past year has provided residents with much to celebrate and their enthusiasm has generated a lot of interest from friends and family members. No better sales tool than a happy customer and we have them in spades at Palencia.”