A neighborhood in western Duval County proposed for 458 single-family homes.
A Jacksonville moving company and a Jacksonville developer submitted a preliminary site plan with the city to build Highland Chase, a neighborhood in western Duval County proposed for 458 single-family homes.
The community is planned on 196 acres at southwest Garden Street and Jones Road.
The plan shows that 360 of the homes would be on 50-foot wide lots and 98 homes will be on 60-foot lots.
The land is owned by Highland Chase LLC, a subsidiary of The Suddath Companies, a multifaceted group that specializes in worldwide corporate employee relocations, household moving, warehouse and logistics management and specialized transportation services, according to the firm’s website.
Suddath is based in Downtown Jacksonville.
The plans submitted to the city of Jacksonville’s Development Services Division were signed by James G. Barnett, Suddath’s vice president and treasurer, a member of the firm’s board of directors and a manager of Highland Chase LLC.
The project developer is GAI Consultants of Jacksonville, off Riverplace Boulevard. The GAI agent representing Highland Chase is W. Scott Land.
Townhouses planned near River City Marketplace
Spartina Cove, a 233-unit affordable townhouse community, is planned on 41 acres near River City Marketplace in North Jacksonville.
The site, at Duval and Cole roads, was purchased Aug. 22 by Corner Lot Development Group of Jacksonville for $2 million. Victory Baptist Church was the seller.
Andy Allen, co-founder of Corner Lot, said Lennar Homes was chosen as the project’s homebuilder. The townhomes are planned to sell in the high $100,000s.
Allen said there isn’t enough affordable housing available in the Jacksonville area.
He said too many people think the term “affordable housing” means Section 8 projects.
At or below 30 percent of one’s income is considered “affordable,” according to the U.S. government.
The real estate agent who represented Victory Baptist Church said in a news release that the sale of the property took four years.
“This successful sale has been accomplished with much diligence, persistence, team approach and hard work on both sides. There were many challenges, including some resistance from some of the property neighbors,” said Carmen Mantay of NAI Hallmark.
Arlington’s Pier5350 sells for $31.3 million
A 400-unit apartment community off Arlington Expressway in Jacksonville changed ownership for $31.3 million from one private real estate firm to another.
AREP Pier LLC, a subsidiary of New York City-based Atlas Real Estate Partners, acquired the property Aug. 27 from Summer Oaks L P, a subsidiary of Chicago-based 29th Street Capital.
Atlas acquired the property with a 12-year fixed-rate Freddie Mac loan for $24.1 million.
The community, called Pier5350 but formerly titled Summer Oaks, is near Arlington Expressway and University Boulevard North in the Clifton area.
Joe Stampone, vice president of investments for Atlas Real Estate Partners, said the firm plans to renovate parts of the complex, including both outdoor spaces and inside residents’ units.
Stampone didn’t wish to disclose how much money will be invested to upgrade the complex, built in 1972, but said it will be in the “multimillion dollar” range.
Architects of Atlanta is listed as the architect.
Indianapolis firm building apartment community
An Indianapolis-based developer that has built luxury apartment complexes in Jacksonville purchased property to construct another multifamily neighborhood.
Becovic Management Group bought 16.75 acres of undeveloped land on Gate Parkway West for $2.7 million.
The property is on the south side of the road east of the Century Deerwood Park apartments.
Company President Muhamed Becovic said plans are to build about 234 “high-end” units in four- or five-story buildings.
He said the number of units and the size of the buildings are dependent on the property’s zoning and could change.
Plans are to build 80 one-bedroom, 130 two-bedroom, 20 three-bedroom and four penthouse units, he said.
Planned amenities include a saltwater pool, dog park, walking trails and a 24-hour fitness center.
Other Becovic Management Group apartment communities in Jacksonville include Ocean Blue, Atlantica and Villas at Atlantic Beach.
The firm also has complexes in Indiana and elsewhere in Florida.
Be the first to know the latest breaking news and information that business leaders rely on in this fast-paced changing Northeast Florida economy. Regional business news, trends and statistics needed to grow your business. Key upcoming events you won’t want to miss and much more. Click Here to Grow your Business NOW!