PANAMA CITY BEACH — Though a new apartment complex is around the corner, it still is unlikely to help Panama City Beach with its affordable housing shortage.

In a Panama City Beach Planning Board meeting last week, officials approved a 236-unit apartment complex to be built on 7.5 acres near the intersection of Hills and Front Beach roads.

According to information from the meeting, the development will feature competitive market rates. However, Susan West, president of the Central Panhandle Association of Realtors, said she does not believe it cater to working-class residents.

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"It's highly unlikely that this will be considered affordable or workforce housing being that it (will be) within walking distance of the beach," West said. "It will probably be housing that is needed, and new construction that still is needed (in PCB), but it's probably not going to be in the price range that's going to benefit our workforce."

The meeting's agenda notes the complex will be built south of the Summerwood Subdivision. It will include one building with a courtyard and amenity area, all of which will be "part of a future Towne of Seahaven master-planned development." This will boast additional residential, commercial and hospitality features.

The complex also will have a resort-style pool, meeting spaces, green spaces and a dog park.

'Prime real estate' means news units won't be 'affordable'

While the goal of the apartment might be to offer rates comparable with other complexes in the area, West said it still probably will not be "affordable," considering standard rental prices in Panama City Beach already are too high for many Bay County residents.

The new complex will be located within walking distance of not only restaurants along Front Beach Road, but also the Gulf of Mexico.

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"That's prime real estate," West said. "The cost of the land in that area is not going to allow for the cost of (its units) to be 'affordable.'"

After Category 5 Hurricane Michael hit the Panhandle in October 2018, a lack of workforce housing has been a hot topic in Bay County, especially in Panama City Beach.

Many hospitality and retail workers in the area are forced to live across city lines because they cannot find places to live in the city that fit their budgets. West said this new complex probably will not do much to fix that issue.

"I doubt the apartments will be prices to fit the needs of the majority of the workforce that is in Panama City Beach," West said. "Even the market value apartment prices on the Beach are not very affordable."

This article originally appeared on The News Herald: Panama City Beach agrees to apartment complex, won't be workforce housing