Projects
Pit Row Garage & Loft
Project facts
- Status
- Pre-Development
- Address
- IGP Commerce Center (US-1 & Int'l Golf Pkwy)
- City
- St. Augustine, Florida
- Region
- Jacksonville MSA
- Submarket
- St. Augustine; St. Johns
- Units
- 40
- Amenity tier
- Standard
- Key amenities
- Mezzanine Capabilities
- Construction
- Block
- Finish level
- High-Quality
- Projected delivery
- 2026
- Flood zone
- X
Location Summary
St. Augustine / St. Johns Overview
The site is planned for a light-industrial park at US-1 North and International Golf Parkway, on the northern edge of St. Augustine where the historic city gives way to St. Johns County's master-planned growth belt. It is the affluent gateway between downtown St. Augustine and the Vilano and Atlantic beaches to the south and east, and the World Golf Village and Interstate 95 interchange communities to the west. St. Johns County, ranked Florida's wealthiest, reached 334,298 residents in 2024 after growing 26.1 percent since 2019, and the wider Jacksonville MSA of about 1.76 million continues to add households several times faster than the national rate, helped by Florida's absence of a state income tax.
The immediate trade area is owner-occupied, established, and notably affluent per household. Within five miles, median household income is $115,568, 35.0 percent of households earn $150,000 or more, and 83.0 percent of homes are owner-occupied, with median home values near $500,000 that climb past $536,000 at seven miles. A 7.4 percent seasonal-unit share and a median age of 43.2 point to a buyer base of established professionals, active adults, and second-home owners. Access runs north and south on US-1, west to Interstate 95 in about 8 minutes via International Golf Parkway, and to Jacksonville International Airport in roughly 45 minutes, while Northeast Florida Regional Airport sits about 10 minutes south.
Current Events & Infrastructure
- World Commerce Center retail build-out: At the Interstate 95 and International Golf Parkway interchange, roughly 10 to 12 minutes west of the site, St. Johns County issued an $18.65 million building permit on January 21, 2026 for a 179,708 square foot Walmart Supercenter at 150 Foundry Lane, with nine outparcels including Chase Bank and Chick-fil-A in county review. For the site, it deepens the everyday retail base that is drawing new rooftops toward the interchange.
- Legends Landing acquisition ($45 million): Stiles acquired 93 net developable acres across six World Commerce Center parcels for $45 million in 2026, planning the 40-acre Legends Landing with a 50,000 square foot grocery store, a 30,000 square foot furniture store, and 13 restaurant, retail, hotel, and office buildings next to Costco, Bass Pro Shops, and Home Depot. The buyer cited more than 13,000 residential units planned or under construction within five miles, the household pipeline that feeds the project's buyer pool.
Key Demand Drivers
The corridor's growth is overwhelmingly new single-family and townhome communities built on tight lots, where HOA rules and two-bay garages leave little room for a collector car, a boat, or workshop space. Secure, climate-controlled garage suites with loft space fill that gap for households that already own the vehicles.
- Northeast Florida Regional Airport: About 10 minutes south on US-1, the 668-acre general-aviation airport has an 8,001 foot primary runway, 228 based aircraft including 17 jets and more than 116,000 annual operations as of 2020, with Northrop Grumman as its largest employer. The St. Johns County Airport Authority approved an East Area plan adding new hangars, a full-service FBO with fuel sales, and a maintenance and overhaul facility, with a related rezoning advancing in July 2026. Aircraft owners are a natural buyer segment for premium garage space.
- World Commerce Center residential pipeline: More than 13,000 residential units are planned or under construction within five miles of the International Golf Parkway interchange, about 10 minutes west, according to the Legends Landing buyer.
- World Commerce Center destination retail: Costco, Bass Pro Shops, Home Depot, and the planned 179,708 square foot Walmart Supercenter cluster about 10 to 12 minutes west, anchoring daily trips that keep the corridor's households close to home.
- Collector and golf culture: THE PLAYERS Championship at TPC Sawgrass, with its $25 million purse, is about 30 minutes north, and the Amelia Island Concours d'Elegance, one of the Southeast's premier collector-car events, draws collectors to the region each March.
Location Highlights
- MSA Position: Part of the roughly 1.76 million resident Jacksonville MSA, which grew about 9.6 percent from 2020 to 2024.
- Enthusiast / Collector Culture: Proximity to Ponte Vedra's professional golf community and the Amelia Island Concours, plus a year-round boating culture on the Intracoastal Waterway.
- Infrastructure & Recreation: US-1 frontage, an 8 minute run to Interstate 95, a general-aviation airport 10 minutes away, and the Vilano and St. Augustine beaches within about 20 minutes.
- Market-Specific Factor: Heavy new-home construction around the interchange is producing thousands of households whose garages are sized for daily drivers, not for collections, boats, or workshops.
- Tax & Quality of Life: No state income tax, top-rated St. Johns County schools, and the historic and tourism appeal of St. Augustine.
- High Net Worth Concentration: 739 households earn $200,000 or more within three miles, 2,305 within five miles, and 6,235 within seven miles, with 23.0 percent of five-mile households above $200,000.
Area Demographics (ACS 2024)
5-Mile Profile: Population 27,269 | Median HH Income $115,568 | HH Earning $150K+ 35.0% | Median Age 43.2 | Age 55+ 32.9% | Seasonal Units 7.4% | Households with 3+ Vehicles 19.5% | YoY Population Growth n/a
Wealth Index: 6.1 / 10 (SCK portfolio-relative)