WRH Realty purchased 18 acres for a 335-unit project.
A 335-unit apartment community is planned for RiverTown in St. Johns County, the first multifamily development in the master-planned community.
WRH Realty Services bought 18 acres in RiverTown from Mattamy Homes through WRH Longleaf LLC for $5 million on May 17, according to a deed filed with the St. Johns County Clerk of Court on May 18.
The project will break ground in the summer, said Newmark Senior Managing Director Tyler Nilsson, who brokered the sale along with Senior Managing Director Erik Bjornson.
St. Petersburg-based WRH Realty also developed the Ciel apartments at Southside and Butler boulevards in Jacksonville.
“There’s such a high demand for growth for high-end rental luxury units in northern St. Johns County, especially that area with the new outer beltway,” Nilsson said.
“The First Coast Expressway will be coming in just south of this site. They’re planning to get ahead of that and they see the growth opportunity. WRH builds such a high-end product, it will be a great amenity for the RiverTown project.”
RiverTown is between Longleaf Pine Parkway and Florida 13 along the St. Johns River.
Mattamy Homes is developing RiverTown. It comprises several single-family communities, a 55+ community and the RiverClub and RiverHouse amenity centers.
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