Atlanta-based Catalyst Development Partners soon will break ground on a 332-unit luxury apartment development within the eTown community, east of Florida 9B and Interstate 295 in south Jacksonville, according to a news release Monday.
The apartments will be within the Village Center, south of eTown's single-family neighborhoods.
On Friday, Catalyst, through CDP E-Town Owner LLC, bought the land from Eastland Timber LLC for almost $4.5 million.
Trustmark National Bank of Birmingham, Alabama, issued an almost $35.5 million mortgage.
The release said Catalyst will complete construction in spring of 2020. The company said previously that construction should start in January with the first move-ins a year later.
Catalyst submitted building permit applications to the city for the apartments among seven three- and four-story buildings on 13.54 acres at 11390 Square St. in eTown.
Summit Contracting Group Inc. is the contractor for the at least $31.5 million construction project.
Plans show 125 one-bedroom units, 171 two-bedroom units and 36 three-bedroom units along with three garage buildings, a maintenance building and pool house.
The project has not been named.
Floor plans will include granite countertops, tile backsplashes, stainless steel appliances and washers and dryers in every unit.
Amenities will include a resort-style swimming pool, fitness center, business center, dog wash area and dog park, grilling stations with fire pits and a lakefront walking trail.
Catalyst partner Jorge Sardinas said the group believes “the location and amenities of this groundbreaking mixed-use community will afford our residents a tremendous quality of life.”
The sale was brokered by Tyler Nilsson, a director of ARA, A Newmark Company.
The PARC Group is developing eTown “around the belief that convenience, community, technology and sustainability enhance a modern way of life,” said the release.
The eTown Hub & Welcome Center will open in summer 2019. For more information, visit eTownJax.com.
Catalyst Development Partners focuses on multifamily real estate development and acquisition opportunities in the Southeast U.S.