Penney Farms

Penney Farms is a town in Clay County, Florida, United States. The population was 749 at the 2010 census.HistoryIn 1926, department store pioneer J. C. Penney founded the community of Penney Farms. He planned to develop an experimental farming village. The state of Florida incorporated the town in 1927. The real estate decline and stock market crash, however, caused Penney to scale back his ambitions to a community for retired ministers in honor of his father. Today, the Penney Retirement Community is a 192acre home to Christian laypeople as well as clergy and missionaries.GeographyPenney Farms is located near the geographic center of Clay County at. State Road 16 leads east 8mi to Green Cove Springs, the county seat, and west to Starke.According to the United States Census Bureau, the town has a total area of 1.4sqmi, all land.DemographicsAs of the census of 2000, there were 580 people, 266 households, and 171 families residing in the town. The population density was 414.7 people per square mile (160.0/km²). There were 290 housing units at an average density of 207.4 per square mile (80.0/km²). The racial makeup of the town was 90.86% White, 8.28% African American, 0.17% Asian, and 0.69% from two or more races. Hispanic or Latino of any race were 0.34% of the population.