Presidium Group LLC has partnered with Jacksonville firms Killashee Investments, Schmidt Development and Tomo Development to break ground Thursday on JTB, a gated luxury apartment community.
The property is at 8876 AC Skinner Parkway near Southside and J. Turner Butler boulevards. The consortium paid $8.35 million for the land and the total value of the project is an estimated $39 million.
The complex will feature 350 apartments in four, five-story buildings with elevators and seven carriage buildings with garages. JTB will include studio, one-, two- and three-bedroom units in 10 floor plans ranging from 640 square feet to 1,454 square feet. Rents range from $1,100 per month for a one-bedroom studio to $1,975 for a three-bedroom, two-bath unit. The average rent is $1,421.
“We are very excited to start the development of JTB luxury apartments,” said Mark Farrell of Killashee Investments. “Our location is second to none and the residences and amenities will be best in class.”
Interiors will feature upscale finishes, vaulted ceilings, shaker cabinets, quartz countertops and stainless steel appliances. More than 11,000 square feet of amenities include a rooftop terrace, resort-style pool, fire pits, demonstration kitchen and outdoor bar area, game room, fitness center and café lounge.
Exteriors will have metal panel siding and flat roofs.
Completion of the first building and clubhouse is expected to take 14 months with project completion in 20 months.
The development represents Presidium’s entry into the Jacksonville market. In Texas, Presidium has more than $100 million worth of development projects underway and a portfolio of more than $1 billion.
