Multifamily Development Opportunity

Located just 8 miles north of the Gulf of Mexico, Foley serves as a commerce hub in the S Baldwin trade area and is home to Alabama’s sugar-white sand beaches. Baldwin County is Alabama’s fastest-growing county in population since the 2010 US Census and ranks 2nd in Alabama for five-year GDP growth. The Foley market has experienced explosive growth in recent years due to the high population growth and strong tourism industry. Foley's leisure and hospitality industry is nearly twice as concentrated here as it is in the nation. The rapid growth in Foley has spiked with the OWA Amusement Park, Sports Tourism Complex, Tanger Outlets, golf courses, hotels, restaurants, retail, and other private developments. The newest economic development in Foley will be a Class “A” AdvantageSite Business Park encompassing nearly 300 acres just off the Foley Beach Express. In addition, Foley owns the former Peavey Electronics building, more than 94,000 square feet in size. This space will be made available expressly for companies looking to locate to the area. Significant employers in the area include UTC Aerospace Systems, South Baldwin Regional Medical Center, Vulcan Inc., Ascend Materials, and Riviera Utilities. The area also benefits from low property taxes, the highly-rated Baldwin County School System, and a mild subtropical climate. Sources: +/- 38 acre residential, multi-family, and commercial land development site available in the heart of Foley, Alabama. The site is centrally located in the rapidly growing Foley MSA and is the ideal location for a residential, multi-family, and commercial development. The property has +/-28 Acres zoned GPH-1 (Residential Garden Patio Homes) and +/-10 acres zoned B-1A (Commercial Extended Business District). The property is located along E Pride Blvd (3,465 VPD) and has easy access to Foley Beach Express, just west of the site. Foley Beach Express (35,350 VPD) serves as a major arterial in the Baldwin County market. The new projects and infrastructure improvements within the community have drawn private development in the city, creating new jobs and a booming economy. With the strong tourism market, low state taxes, highly-rated Baldwin County School systems, and beautiful beaches, Foley has become a highly sought after community to reside and tourist destination.