A huge piece of property west of Jacksonville has been sold, with lots of plans for development. It’s a total of 11,366 acres, most of it on the southwest corner of the U.S. 301 interchange with Interstate 10, just south of Baldwin. But about 2,000 acres are north of I-10.
The property was put together by ICI Villages about a decade ago and permitted for up to 11,000 homes, 3,750 multi-family units, 750,000 square feet of commercial space and 300,000 square feet of office space.
But like a lot of projects back then, it was never built. The property, all timberland, ended up in the hands of a California teachers pension fund, which had been an investor.
Now a local partnership called 301 Capital Partners, a joint venture by BHK Capital and Roberts Land &Timber Investments, has paid $27.5 million for it and plans to get it going again.
Jim Hissam, vice president of BHK Capital, said the property is still entitled with those numbers of units. But they’re going to redo the site plan and engineering.
“That old site plan was pre-recession,” he said. “The demographics have changed.”
Now they’re thinking about senior housing and multi-generational housing. Once the houses start getting built, there will be demand for the retail and office space.
BHK has similar plans for a project in St. Johns County called Kings Grant on 2,800 acres at Florida 206 and I-95. But that’s still going through county permitting.
Parkland Preserve is a new 55+ community going into St. Johns County on 275 acres on Parkland Trail, just north of International Golf Parkway on the east side of Interstate 95.
Plans call for 360 single-family homes and 109 multi-family units in the gated community. D.R. Horton is the exclusive builder for the single-family homes.
Mike Balanky of Chase Properties said he expects groundbreaking in the second quarter of next year with the first homes by the end of the year. The project is being developed by Chase and NGMB Properties.
Palmetto Moon is moving into most of the space left when the nightclub Suite closed six months ago in the Markets at Town Center.
The South Carolina-based chain calls itself a lifestyle store and sells men’s, women’s and children’s clothing along with gifts and lots of collegiate items.
The store is taking 6,400 square feet, leaving 2,457 square feet still available. It’s expected to open next March or April. The Angelo Group has the $65,000 interior demolition contract. The buildout will require an additional permit.
Suite closed in April a few weeks after a man was shot and killed in its parking lot. Suite opened in 2010 along with Whisky River and Blackfinn Ameripub, creating a dining/nightlife area in the Markets at Town Center. Whisky River closed in 2014 and was replaced by Cooper’s Hawk Winery &Restaurant in 2015.
Church of Eleven22, which has several other locations in the area, is moving into the former HH Gregg in the Southside Commons shopping center on Commerce Center Drive.
According to the building permit, it’s spending $2,656,000 to renovate 29,200 square feet. Bradley Bowen Construction has the contract.
The church has been very active in the real estate market recently. In May, it paid $7.8 million for the building it shares with Hobby Lobby in the San Pablo Family Center on Beach Boulevard. Last year, it paid $3.4 million for the former Lutheran church on Losco Road in Mandarin. In 2015, paid $2.48 million for the former Sneakers Sports Grill on Point Meadows Road, off Baymeadows.
I first wrote about Grand Living at Tamaya, a new senior living center going next to Tamaya at Beach and Kernan boulevards, in June. Now the developer, Ryan Companies of Minneapolis, has closed on the property, paying $3.3 million for 6.13 acres just north of Beach on Kernan.
ICI Homes, the Tamaya developer, is still marketing a couple of parcels just south of that, right on the corner.
Groundbreaking is expected in the next month or so on Grand Living. It’ll have 171 units of independent, assisted and memory care living, along with amenities like a pool and performance theater.
It’s expected to open the first quarter of 2019.
Speaking of Tamaya, here’s where it stands. It’s getting close to 300 homes sold, at an average of $501,000 and 2,635 square feet. Closing is expected soon on the largest and most expensive home in the community: $1.1 million and 8,400 square feet on two lots in the Bella Nika section.
The Clay County Development Review Committee will consider proposals for three new apartment complexes. But even if approved locally, there’s no guarantee they will be built.
All three are affordable housing complexes, meaning lower rents and income limits. Though we’ve had some complexes built for low-income seniors lately, all three of these are for all ages.
But they’re all applying for state funding, which involves a lottery system. Those decisions on who gets the funding won’t be made until next spring. So construction wouldn’t start until late 2018 or early 2019.
Bryce Landing would be a 96-unit complex in four three-story buildings on County Road 220 just east of Baxley Road. It’s being developed by Housing Trust Group.
Astoria Commons would be an 88-unit complex spread over 20 two-story buildings at 3634 Old Jennings Road, in front of Tynes Elementary School. It’s being developed by Blue Sky Communities.
Landon Cove would be a 92-unit complex in eight two-story buildings at the northeast corner of Old Jennings Road and Tynes Boulevard. It’s being developed by TVC Development, a subsidiary of Vestcor Companies.
Vestcor Companies broke ground Wednesday on Lofts at Monroe, a 108-unit affordable apartment complex on Monroe Street. It’s expected to open fall 2018.
Meanwhile, Vestcor’s Lofts at LaVilla, a 130-unit complex in front of the Prime Osborn Convention Center, is expected to open next month.
Crowley Maritime Corp. has leased 36,000 square feet of space in Cypress Point Business Park at Butler Boulevard and I-95. It will remain in its Regency headquarters, but 150 people will work in Cypress Point. Colliers International handled the leasing.
10393 Fortune Pkwy., new two-story building for CCS Presentation Systems, $975,000, 11,000 square feet, Benchmark Commercial Group.
10503 San Jose Blvd., converting use from retail space to Idle Hands Tattoo, $1, 1,200 square feet.
7070-7088 Sandle Drive, four new homes in Villages of Westport off New Kings Road, $65,000 each, D.R. Horton.
4500 San Pablo Road, lab renovation at Mayo Clinic, $317,070, 1,212 square feet, Auld &White Constructors.
5230 Baymeadows Road, add new restroom and kitchen bar to Mediterranean Grill, $33,000, 1,200 square feet, Ideal Conditions Heating & Air.
8650 Old Kings Road S., interior remodel of H&R Block, $31,871, 1,470 square feet, Commercial Installation and Construction.
13398 International Pkwy., build office in existing warehouse, $215,000, 2,000 square feet, RJ Atlantic Builders.
4268 Oldfield Crossing Drive, repair stucco at Mandarin Crossing damaged by Hurricane Irma, $180,000, The Angelo Group.
7091 Collins Road, tenant buildout for Coco Beauty Supply, $26,891, 4,664 square feet, DLZ Construrction.
2259 Cole Flyer Road, three new buildings and vehicle canopy for consolidated maintenance at Jacksonville International Airport, six permits totaling $12,430,000, F&F Construction.
8738 Baymeadows Road E., Bay95, $1,894,655, 14,750 square feet, C&R General Constractors. As reported last month, the small shopping center has two confirmed tenants, Marco’s Pizza and Salsas Mexican Restaurant.
8663 Baypine Road, tenant buildout for LeaderQuest, $164,801, 5,959 square feet, Live Oak Contracting.
13398 International Pkwy., install high racking at Unipart, $797,000.
76 S. Laura St., renovations to Morgan &Morgan law offices, $641,552, 16,320 square feet, Dav Lin Interior Contractors.
5077 Normandy Blvd., tenant buildout for Normandy Food &Gas, $2,000, Compass Builders &Renovators.
9428 Baymeadows Road, tenant buildout for Academy Mortgage, $83,622, 4,900 square feet, Emerald C’s Development.
Renaissance Charter School Inc. of Fort Lauderdale paid $16,266,667 for the charter school at 12800 Beach Blvd. Red Apple at Coastal LLC recently paid $2.4 million for the property, buying it from St. John the Divine Greek Orthodox Church of Jacksonville, and spent at least $6.5 million renovating it for the Duval Charter School at Coastal.
John K. Flagg trustee paid $2,143,000 for a new 5,976-square-foot home at 5340 Commissioners Drive in Pablo Creek Reserve.
Dennis Pinkerton trustee paid $1,657,000 for the 6,242-square-foot home at 821 Queens Harbor Blvd. It was built in 2003 and last sold for $1,470,000 in 2015.
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