Lawyer and investor Mark Rubin predicts that the stretch of Atlantic Boulevard east from San Marco Square is becoming one of the city’s hot spots.
“We believe that the Atlantic Corridor that leads to San Marco from the new I-95 access point will have a dramatic redevelopment in the next 24-36 months,” said Rubin, who owns properties along the way.
Rubin invested in two buildings at 1639 and 1649 Atlantic Blvd., where he relocated his headquarters. He had been based at 2107 Hendricks Ave., which he bought, redeveloped and sold to owners of Matthew’s Restaurant.
He cites the Jacksonville-based Daily’s gas station and convenience store that opened at 1916 Atlantic Blvd. in January 2016.
In addition, Whitehall Realty Partners and Indigo South Capital Inc., an investment partner, bought a building at 1721 Atlantic Blvd. in 2015 that was redeveloped as their headquarters.
The newest neighbor appears to be Southern Grounds, which will open a coffee shop at 1671 Atlantic Blvd. after renovations.
“The new entries along with our two developments on the same block are the first signs of life east of Hendricks since before the Great Recession,” Rubin said, referring to the economic downturn of 2007-09, with lingering effects.
Rubin invests in San Marco and Riverside Avondale, which both are historic neighborhoods. He said San Marco has lagged, even though it has a more concentrated and centrally defined commercial district.
One of San Marco’s largest expected developments has stalled. East San Marco, a proposed residential and retail project at Hendricks Avenue and Atlantic Boulevard, has been delayed again because of financial issues. It was announced more than a decade ago.
Rubin, who called the East San Marco stops-and-starts frustrating, is part of the movement with smaller developments.
“Expansion to the east is a natural progression, and if it’s going to happen, let’s do it with uses that push the envelope,” he said.
He said Southern Grounds is a good fit and fills a need.
“Personally, I am very much looking forward to making Southern Grounds my new morning office,” he said.
@MathisKb
(904) 356-2466