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Jax Daily Record Tuesday, Apr. 26, 202209:02 AM EST

City permits $30 million age-restricted Olea apartments in Beach Haven

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The 175 units will be built on 6.4 acres along San Pablo Parkway north of Mayo Clinic Florida.

Atlanta-based RangeWater Development LLC can start construction on the 175-unit Olea Beach Haven age-restricted community in Beach Haven, an area along and west of San Pablo Parkway.

The city issued permits April 25 for the project, announced in February, at a cost of $30.8 million.

The 6.38-acres site is at 4101 San Pablo Parkway, south of Beach Boulevard and north of Mayo Clinic Florida. The area is west of the Intracoastal Waterway.

Live Oak Contracting LLC of Jacksonville is the contractor. England, Thims & Miller Inc. is the civil engineer.

The project comprises one-, two- and three-bedroom units among three buildings. There are two small garages.

Through RW Marble Olea Beach Haven Owner L.P., RangeWater bought the property for $5 million on Dec. 21 from Estuary LLC and Pablo Holdings LLC.

The city approved clearing Dec. 28 and tree harvesting in August.

RangeWater announced in January it would break ground in early 2022 on the community restricted to those age 55 and over with amenities that include a dog park and a social green space.

It will be the company’s first age-restricted community. The other Olea projects are age-targeted to active adults.

Michael Oliver, director of development, said the Intracoastal location is near Mayo Clinic, job centers, shopping and the Beaches.

Olea says it has events and programming special to each neighborhood. Amenities include high-end appliances, a pool, a library and media rooms.

“Residents can enjoy raised garden beds for community gardening and more social green spaces than most Class A multifamily properties,” the January release said.

“At Olea Beach Haven, we will have a full calendar of activities led by our Lifestyle Director that bring life to the community and its many large, well-adorned, indoor and outdoor spaces,” it said.

Steven Shores, RangeWater chairman and CEO, said in January the team had been diligent in securing its third development under RangeWater’s Olea platform in Florida.

“Olea is centered around community, with the idea that today’s empty nesters are more active than preceding generations and are attracted to vibrant, collaborative communities. That is exactly what we intend to deliver here in Jacksonville,” he said in the news release.

Olea eTown is an apartment community for active adults.

RangeWater building Olea eTown

RangeWater also is active at eTown with an age-targeted community. It is not age-restricted.

Olea Beach Haven and Olea eTown will be completed in fall 2023, RangeWater said.

RangeWater Real Estate paid $8.52 million on April 12 for property to develop the proposed Olea eTown apartment community for active adults. 

RangeWater, through CRP/RW Olea South Jacksonville Owner L.L.C., bought the land from Eastland Timber LLC.

TD Bank of Greenville, South Carolina, issued a $37.4 million mortgage.

RangeWater Development LLC said in a news release April 15 it plans to break ground this spring on the 192-unit community on 5.73 acres at 11385 Exchange Street in eTown, which is east of Florida 9B.

Plans show three apartment buildings, three garages, surface parking, a pool area and a dog park. 

It will comprise one-, two- and three-bedroom units.

England, Thims & Miller Inc. is the civil engineer.

RangeWater said the 55-plus group is a growing demographic as many in that age range downsize from family homes and move toward retirement. 

Privately owned RangeWater, founded in 2006, buys, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States. It said it has a $5.6 billion portfolio.

RangeWater said it opened its first two Olea properties in Florida – Olea at Nocatee and Olea at Viera – in August 2020 and that they leased up within a year. 

“After each successfully stabilized within the year, the company sold both and still manages Olea at Nocatee,” it said.

RangeWater said both were sold in late summer 2021. 

Beach Haven and eTown will be the company’s third and fourth Olea communities.
 

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