FAVERGRAY ANNOUNCES DELIVERY OF PANAMA FLATS: 320-UNIT RESORT APARTMENT COMMUNITY IN FLORIDA

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.

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 Panama Flats,” 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.”

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.



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CEO |

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.