Luxury Beachfront Access Apartments in Panama City Beach, Florida

Jacksonville, Fla. (October 20, 2022) – FaverGray is announcing the delivery of Panama Flats, a luxury multifamily community with 360 Residential, Stockbridge, Mill Green Partners, Gary B. Coursey Architects, with financing provided by Iberia Bank.

The Panama Flats project is located on a 21.7-acre site under a quarter-mile from the beach. The 320-unit development consists of five 4-story apartment buildings with elevators, two 16-bay detached garages, and three 8-bay detached garages. 

The luxury rental apartments include a thoughtfully designed collection of spacious studio, one, two, and three-bedroom apartment units with breathtaking views and superior amenities.

Panama Flats offers 3.25 acres of resort amenity space. The arc-shaped pool features impressive outdoor amenities including: private cabanas, a 2,100 SF pool pavilion with a bar, eight gas grills, and two Big Green Eggs grills.

Additional outdoor amenities include two direct paths to the beach, a covered pavilion with entertaining spaces, hammocks, natural gas fire pit, a dog park, and a covered pet wash.

The 6,700-square-foot clubhouse features:

  • An entertaining island
  • Private workspaces 
  • Spacious, covered lanai with outdoor fireplace and TVs
  • 1,750 SF state-of-the-art fitness center

The community also provides a 3,500 SF leasing office building. 

The construction is generally wood frame with fiber cement siding and a 3-foot brick veneer on the clubhouse and leasing office. The roofing consists of architectural-style asphalt shingles and standing seam metal on the pool cabanas/pavilion. 

Unit Features and Amenities:

  • Kitchens with granite countertops and custom tile backsplash
  • Stainless steel appliances with side-by-side refrigerator
  • Large kitchen islands (in select units) and oversized sinks
  • Undermount cabinet lighting and pendant lighting over islands
  • USB outlets in kitchen and bedroom
  • Ceiling fan in living room
  • Kitchen pantries with ample storage
  • Full size, energy-efficient washer and dryer in every unit
  • Large walk-in closets
  • Large tiled walk-in shower
  • Private balconies
  • Expansive gulf views (in select units)
  • Luxury plank flooring in all living areas

“We are honored to be part of this resort-inspired concept to bring high-end, luxury multifamily living to Panama City Beach residents,” shares Ben Hinson, Executive Vice President at FaverGray. “Panama Flats has proven to be an alluring and outstanding multifamily development that has enhanced the community. 

“The FaverGray team is proud to announce the successful completion of our first project with 360 Residential,” shares Mark Higby, Division Leader at FaverGray. It was rewarding to lead our team and see this impressive project come together. Congratulations to our project management, field team, and subcontractors for their dedication and hard work.”

360 Residential is proud to announce the successful delivery of Panama Flats, Panama City Beach’s premier beachfront Multi-Family community.” shares 360 Residential Vice President Taylor Hawke. “Through tremendous collaboration and coordination from the Faver Gray team, Gary Coursey and Associates, and all of our professionals, we are excited to bring this unique development featuring resort living to the Florida panhandle. What makes this product special is that it is the only development of its kind on the gulf coast that is truly walkable to the beach and positioned between two large public beach access points.”

“A tranquil oasis, only a few minutes’ walk from the beach, the newest GCA apartment development is a gem within the Panama City Beach community. With façades inspired by the genteel northeast coastal forms, this 320-unit multi-family property boasts 5 apartment buildings, featuring Studio, 1, 2, and 3-bedroom floor plan options. All units provide spacious, open living areas with chef-inspired kitchens equipped with stainless steel appliances. Centered around a breathtaking resort-style pool, the Clubhouse and several amenity buildings, offer residents multiple opportunities to meet and connect in various indoor and outdoor settings. Maintaining security as a priority via a property-wide secure access-control, GCA designed to the aesthetic and functional goals of the Owner, to serve residents, and to create an aspirational, sophisticated community,” shares Gary Coursey, CEO of Gary B. Coursey Architects.

Congratulations to our team on a successful project!

Division Leader:
Mark Higby

Director of Construction:
James Hill

Project Director:
A.Y. Harrison

Project Manager
Marc Hirst

Assistant Project Manager
Austin Overly

Project Superintendents
Stefan Saraff
Chris Chambers

Assistant Superintendent
Jason Trimble

About FaverGray

FaverGray is an award-winning, fully integrated general contractor in Jacksonville, Fla., specializing in building multifamily, student housing, and senior living communities. Since 2005, the company has contracted more than $2 billion in project revenue. As a general contractor with projects delivered in 15 states and 61 cities across the U.S., FaverGray’s mission is to deliver success by offering creative solutions, providing a fully integrated team from concept to completion, and exceeding client expectations. Visit www.favergray.com for more information.

About 360 Residential

Based in Atlanta, GA., 360 Residential is a hands-on, opportunistic boutique development company that is committed to building best in class assets in high barriers to entry markets with excellent access and drive-by visibility. The principals of 360 Residential bring over 50 years of combined hands-on experience in multifamily development, construction, and management. The core business of 360 Residential is the development of projects in high barriers to entry major metropolitan areas. The key markets of focus are South Florida and Atlanta. Project sites are selected based on long-standing industry-wide fundamental criteria including proximity and access to diverse job markets, retail and entertainment venues, and strong local school systems. Population growth, household formation and supply, and demand metrics are heavily considered in each 360 Residential development. A key element to the company’s strategy is its focus on locations where there are high barriers to entry such as the limited supply of available land for development or zoning or other restrictions that constrain the delivery of competitive supply in the future. Disciple to adhering to these key metrics are time tested and have served the 360 Principals well through several economic cycles. Additionally, 360 Residential’s hands-on approach has proven to yield superior products in each of its local submarkets. 360’s design team prides itself on committing an extraordinary amount of time upfront to design every detail and finish aspect for each project to provide the best residential experience possible. Each individual site plan, amenity package, and unit mix are carefully crafted from scratch with the goal of meeting the needs of an ever-growing dynamic rental base blended with individual features intended to capture the culture and flavor unique to each submarket.

About Gary B. Coursey Architects

We are an innovative firm strongly committed to the belief that all architecture enriches daily life. We feel that a successful project begins with a team effort between the client and the architect. Using this “team approach” enables us to address from the beginning the practical, creative, and financially feasible solutions for a successful project. We have a strong project organization and hands-on participation of our firm principles. The buildings we design vary in expression to reflect a particular response to each client’s unique needs, site conditions, and climate, yet they are all the result of a consistent design methodology. Our highest accolade is our clients to whom we have delivered successful projects and continue to return to us for design services.

Contact:  Paige Rosenberger  (904) 208.2023  prosenberger@favergray.com




James a. Gray

Gray co-founded FaverGray in 2005 and has more than 45 years of experience in design and construction management in the residential, commercial and industrial market sectors. As CEO, Gray is responsible for leading the development of FaverGray’s short and long term strategy, creating and implementing FaverGray’s vision and mission, maintaining awareness of the competitive market landscape, evaluating expansion opportunities and industry developments, maintaining social awareness and responsibility within FaverGray’s market sectors, assessing and managing corporate risks and management of banking and surety relationships.