A new Chase Bank building is identified for Northeast Florida, which could help move JPMorgan Chase along its way toward 10 new branches in Northeast Florida.
The St. Johns River Water Management District is reviewing an application for Chase Bank at 1000 Sawgrass Village Drive near Sawgrass Village in Ponte Vedra Beach in St. Johns County.
The Sawgrass Village shopping center directory shows that Chase now has a small branch next to Publix Super Markets Inc.
JPMorgan Chase Bank paid $5.25 million May 31 for three properties from P.V. Healthcare Associates, 1100 SGVD-PV LLC and 1000 Sawgrass Village Association.
Those three still are listed as the landowner of the combined 1.46-acre site in the Aug. 16 water management district application.
The site fronts a small lake and is north of the Publix Super Markets Inc. store.
The application requests a minor modification to the environmental resource permit for the project.
According to the application, the request proposes to demolish the existing two-story, 18,000-square-foot structure and develop the site with a two-story financial institution, at a ground floor of 4,542 square feet, with one drive-up ATM.
St. Johns County also has been reviewing an application for design approval to develop a two-story, 9,350-square-foot bank building with one ATM drive-up and associated site improvements, such as parking, landscaping, utility infrastructure and stormwater drainage.
St. Johns County property records show that the 1.46-acre site comprises two buildings.
The 1000 Sawgrass Village Drive structure, at 18,752 square feet, was built in 1986. It is a professional services office building.
The 1100 Sawgrass Village Drive building, at 6,624 square feet, was built in 1985. It is a medical office building.
Both are vacant.
Dynamic Engineering Consultants PC of Delray Beach is the agent and civil engineer for the Chase Bank project.
New York City-based JPMorgan Chase & Co. Chairman and CEO Jamie Dimon said Jan. 31 that the bank plans to add 10 more branches in the Jacksonville metropolitan area.
He told news reporters that Jacksonville, with 20 offices, is an expanding market.
Since then, three new locations emerged.
The first three comprise two in Jacksonville in College Park in Arlington and in the Atlantic North shopping center in East Arlington and another in St. Augustine, also in St. Johns County.
In St. Augustine, St. Johns County issued a permit Aug. 6 for a $2.3 million, 3,436-square-foot Chase Bank branch and ATM at 100 Florida 312 W. The branch will have a drive-thru lane, according to the permit application. The site was a former Red Lobster. St. Johns County issued a permit June 20 for Marand Builders LLC of Jacksonville Beach to demolish the closed restaurant. Coltrane Real Estate Investments LLC of Winter Park owns the restaurant property.
In Atlantic North at northwest Kernan and Atlantic boulevards, Chase intends to build on Outparcel D at 11937 Atlantic Blvd. Chase wants to build a 3,450-square-foot bank with one drive-thru ATM lane on 1.42 acres. It will lease the land from Sleiman Enterprises. City utility JEA received a July 24 service availability determination request for the project, including associated site work that includes parking, landscaping, stormwater infrastructure and lighting.
In College Park, Chase Bank is working on a 3,430-square-foot space in the former Town & Country Shopping Center at northeast University Boulevard and the Arlington Expressway in Arlington near Downtown. The city issued a permit July 16 for iConstructors LLC of Jacksonville to renovate the space for Chase at a project cost of $1 million. Chase will lease space at 917 University Blvd. N., in the middle of the strip of storefronts comprising College Park.
After starting to build a branch network for its Chase business in 2013, Chase Bank now has 20 offices in the Jacksonville market.
Dimon said Jan. 31 the next expansion will include offices in low-to-moderate-income neighborhoods in Jacksonville and St. Augustine.
Dimon said banks have an obligation under the federal Community Reinvestment Act to serve all parts of the community but he said JPMorgan would provide those services anyway.
Eddie V’s Prime Seafood
The Ponte Vedra Beach site had been considered for Eddie V’s Prime Seafood, part of Darden Concepts Inc., which explored the location to open a 10,303-square-foot restaurant.
Darden needed to verify the viability of the project, the process for obtaining approvals and other issues that may create hurdles, according to the pre-application reviewed by the St. Johns County Growth Management Department.
A recording of the almost 25-minute pre-application meeting May 24, 2023, between the county and the Eddie V’s representatives included questions and plans for the project.
The project did not proceed and no reason was given.
Property seller Bryan Simpson, who led the three groups that sold the property, said Aug. 20 that Eddie V’s was not prepared to move ahead during the process and Chase was.
“And they didn’t offer the same price,” he said of the Eddie V’s plan.
“It was a great piece of property.”
The Chase pre-application was filed with St. Johns County on Dec. 4, 2023.
The Darden construction contact did not immediately return a text and email for comment. The media contact did not immediately respond to an email.
Darden comprises Bahama Breeze Island Grille, The Capital Grille, Cheddar’s Scratch Kitchen, Eddie V’s, LongHorn Steakhouse, Olive Garden Italian Kitchen, Seasons 52 and Yard House. It announced in July it would acquire Chuy’s.
According to the pre-application, Darden proposed to lease three parcels, totaling 1.47 acres, at 1000 and 1100 Sawgrass Village Drive and combine the site for an Eddie V’s Prime Seafood.
The existing structures would be demolished.
“We are always looking at new locations, including in the Ponte Vedra Beach area. However I don’t have further details to share at this time,” said Carly Maddock, communications manager with Darden, on April 17, 2023.
A preliminary site layout showed the restaurant would be on the waterfront of the small lake.
Consolidated Development Services of Addison, Texas, prepared the layout and overlay.