Work to resume on Goodby’s condos
Developers of the unfinished condominiums along Goodby's Lake in Jacksonville's Baymeadows area have filed plans to restart the project.
The name is referred to as The Cove at St. Johns on plans.
Frank Tetel, vice president of owner and developer Prospect Property Group, declined to provide the timetable or pricing of the project, but said a sales team should be on-site soon and all the information will be provided.
Tetel said the four Cove at St. Johns structures are in good shape and Prospect is proceeding with the initial plans.
Prospect Cove Development LLC of Longwood filed building plans with the city for two of the four buildings.
The first two permits show a $3.1 million renovation cost for two six-story buildings, one with 18 units and the other with 20 units. The address for what the plans call "a proposed residential apartment development" is 3958 Baymeadows Road.
Bradenton Cove Construction LLC of Longwood is the contractor and Wakefield Beasley & Associates of Ponte Vedra Beach is the architect.
Plans show The Cove at St. Johns comprises a six-story, 18-unit building; a six-story, 20-unit building; a four-story, 18-unit building; and a 30-unit, six-story building. There also is a pool, cabana and summer kitchen and below-building parking. The property is 2.8 acres.
As reported Sept. 5, Prospect Cove Development LLC, housed at Prospect Property Group, took over the unfinished Goodby's Lake condominiums at Baymeadows and San Jose boulevards in a $2.5 million deal.
The Federal Deposit Insurance Corp. took over the property in 2009 and sold it to Prospect Cove Development, which is headed by Mark Filburn.
Tetel said the project is zoned for up to 86 units.
"It will be very nicely done," Tetel said.
He said Prospect develops throughout the Southeast and has been interested in the project "for a long time."
Prospect's stated focus is "fractured condominiums, multifamily developments, unfinished new construction, and land in prime urban and resort locations throughout Florida."
A fractured condo project is one in which some units were sold but most were unsold. Visit prospectproperties.com for more information.
The website shows that Prospect's Northeast Florida area projects include the Reserve at Water's Inlet, a 205-unit apartment project it bought and redeveloped in 2011, and Ocean Grove at Ponte Vedra, a 252-unit condo it bought in 2004.
According to the website, the company was created in 1994 to capitalize on distressed office and retail property during the 1990s downturn, buying more than 1 million square feet of commercial property from lenders and the FDIC "at a fraction of the replacement cost."
The management comprises Filburn and Alex Walker.
In 2002, Prospect "acted early on opportunities in apartment-to-condo conversions, investing over $350 million in residential acquisitions and converting nearly 2,000 units to condominium ownership," and yielded a 48 percent return to investors on projects completed to date, it said.
The site says the firm "wisely halted acquisition activity in mid-2005 as apartment cap rates were descending below economic viability due to 'irrational exuberance' in condo valuations."
It continues: "Prospect is proud to sustain a distinguished 16-year track record with superior returns and zero failed developments."
Regional Council seeks award nominations
The Northeast Florida Regional Council announced last week it will present the Regional Leadership Awards Program, featuring the Northeast Florida Regional Council Regional Leadership Award and eight more awards recognizing quality of life, transportation, public safety, economic development and tourism, environmental stewardship, affordable housing, education, and planning and growth management.
Nominations are due by Oct. 25 and forms are available at nefrc.org.
The awards will be made at the Elected Officials Reception and Awards Luncheon Ceremony scheduled at noon Dec. 5 at the University of North Florida Herbert University Center.
Clockwork Marketing moving to Southside from PVB
Clockwork Marketing Services Inc. has its boxes packed and it's ready to move by the end of the month from 4400 Marsh Landing Blvd. in Ponte Vedra Beach to the Regions Bank Building in Deerwood Park.
The new address will be 10245 Centurion Parkway N., Suite 315.
President Maxine McBride said Clockwork Marketing and eight employees will move into about 2,900 square feet on the third floor. Another Clockwork employee works in Sarasota.
Clockwork Marketing has been at its Ponte Vedra Beach location for 13 years. It previously occupied space in Jacksonville Beach and before that had offices in Sarasota for five years.
"In 2014, we celebrate 20 years in business as a PR and marketing agency," McBride said. "The new space is designed to create a collaborative environment for us to work in. The fresh energy of a new office space is a wonderful way to complete 2013 and move into the new year."
Brooks Rehab plans Bartram open house
Brooks Rehabilitation at Bartram Park plans a "Celebrate Aging 2013" program from 9:30 a.m.-2 p.m. Oct. 26 featuring keynote speaker Dr. Bill Thomas, campus tours, exhibitor booths, health screenings and lunch.
The free community event is planned for seniors, caregivers, friends and families.
Thomas, trained at Harvard, is considered an expert in the aging process and is the author of "What Are Old People For? How Elders Will Save The World."
For information, call (904) 345-7049.
Brooks Rehabilitation at Bartram Park plans its grand-opening reception for 5-7 p.m. Oct. 25. The center is at 6209 Brooks Bartram Drive.
Dine with Us Downtown heads to Chomp Chomp
Bill and Kim Prescott continue their "Dine with Us Downtown" series from 6-9 p.m. Oct. 24, this time at Chomp Chomp, 106 E. Adams St.
Bill Prescott is former CFO of the Jacksonville Jaguars and now is a principal at Heritage Capital Group. The Prescotts have been hosting regular dinners Downtown to bring attention to businesses and restaurants in the district.
He says Chomp Chomp is open for lunch, dinner and late-night grub. The Prescotts have reservations for 7:30 p.m. and he encourages others to make reservations anytime 6-9 p.m.
A brief presentation about Downtown is scheduled at 7 p.m.
Prescott said reservations are due by 5 p.m. Oct. 22 by emailing Liz Grebe at email@example.com.