An Atlanta-based developer in talks to operate a marina at The Ford on Bay development Downtown along the St. Johns River purchased three undeveloped parcels at The Plaza Condominiums at Berkman Plaza.
A warranty deed recorded March 31 with the Duval County Clerk of Courts shows the 0.57 acres was purchased for $900,000 March 25 through Jacksonville-based Liberty Point LLC.
A description of the company filed with the Florida Division of Corporations lists real estate developer Greg Esterman as Liberty Point’s principal.
The Smith Hulsey & Busey law firm is the registered agent for the company.
One parcel is along the east side of South Liberty Street at Courthouse Drive. It’s separated from the other two parcels by the Berkman Plaza parking deck. They are along the St. Johns River east of the proposed The Ford on Bay development.
DB Holdings Company Amelia Island LLC, managed by Betty Berkman of Amelia Island, sold the land.
Esterman is negotiating with Downtown Investment Authority CEO Lori Boyer to manage the marina at The Ford on Bay.
Boyer confirmed the discussions in an interview March 12. Esterman would manage the submerged 3.1 acres listed in the DIA and real estate firm CBRE Jacksonville’s marketing material for the former City Hall and Courthouse sites on East Bay Street.
The winning $136 million bid from New York-based Spandrel Development Partners LLC did not include the marina. Spandrel proposes a two-phase project with 520 apartments and up to 74,000 square feet of retail space at 220 and 330 E. Bay St.
That deal still needs approval from City Council, and city attorneys have to resolve a first right of refusal held by the Hyatt Regency Jacksonville Riverfront for the 220 E. Bay St. property.
The DIA is scheduled to consider a long-term lease deal with Esterman for 0.5 acres of submerged city-owned land southwest of the Berkman Plaza II. That property is separate from The Ford on Bay site.
The developer proposes building a transient dock which he said in a March 12 email is “the first of many steps” toward a larger project.
That agreement was put on hold after Council and the city’s independent authorities canceled public meetings because of the COVID-19 pandemic.
Boyer said March 30 the DIA plans to hold its April 15 board meeting via videoconference and will consider the lease agreement. It would then be sent to Council for final approval.
A term sheet drafted by DIA staff shows Esterman and the city will consider a 50-year lease for the property with a 25-year renewal option. The dock would be open to public use for up to 30 consecutive days.
The developer would be responsible for the design, permitting and construction costs associated with the dock built parallel to the concrete pier at the end of Catherine Street.
A lease rate has not been determined, but Boyer said it will be set at fair market value. The term sheet indicates the cost of the lease will be “equal to the rate the State of Florida Department of Environmental Protection would assess for private commercial enterprise.”
Esterman did not respond to a call for comment March 31.
