A local company wants to tear down ‘eyesore’ for a $250 million development
“Gatlin Development Company plans to redevelop the old (Bestbet) racetrack in St. Johns County into a multiuse development and is currently working on a (Planned Unit Development) Rezoning with St. Johns County, known as ‘Grand Cypress,’ which will propose a mixed-use development that is consistent with the property’s intensive, commercial, future land-use designation (which allows commercial, office and multi-family uses as a matter of right). The plan for ‘Grand Cypress’ is to develop a mixed-use project to include up to 250,000 square feet of retail, and up to 975 multi-family units valued at approximately $250 million.”
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