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Houston-based Hines, a global real estate company, intends to develop a mixed-use project at southwest Butler Boulevard and Interstate 295. It also is talking with the city about a 306-unit apartment community in the center of the property.
Jax Daily Record Friday, Jul. 22, 201612:00 PM EST

Hines preps for mixed-use development near St. Johns Town Center


Dirt continues moving around St. Johns Town Center and next up could be the Hines group on property south of the premier shopping area.

A “mass grading” plan for about 100 acres was filed last week with the city.

Separately, Hines is talking to city reviewers about a six-building, 306-unit apartment community on 10 acres within the property.

Hines, a seasoned area commercial and residential developer, has a contract for about 116 acres along Gate Parkway at southwest Butler Boulevard and Interstate 295. It expects to buy the land late this summer.

It proposes a mix of residences, stores, restaurants, services, a hotel, offices, parks and green space on the site, which stretches from the FBI Building to the Shoppes at Village Walk.

City Council rezoned the property in the spring.

About 75 acres can be developed and would be completed in phases over six to eight years.

“Hines hopes to start construction on the primary infrastructure for the community soon after closing this summer in order to bring the community to life immediately,” said Carrie Martin, a corporate communications manager with Hines.

Hines, a privately owned Houston-based real estate firm, has developed several area properties, including the 2,200-acre Palencia community north of St. Augustine and The Markets at Town Center at St. Johns Town Center, north of Butler Boulevard.

Now referred to as “Mill Dam Branch,” the property is owned by the Charles Brightman Skinner Jr. Trust and He Otter LLC, another Skinner family property owner.

Martin said Hines will take the project through an internal branding process to create a name and marketing package. There is no specific timeframe, but it typically happens early so marketing can begin, she said.

Hines might sell portions of the property to other developers as the market dictates and as it assembles the final mix of uses, Martin said.

An architectural site plan shows two lakes surrounded by parcels identified for mixed-uses of residential, office and commercial and of commercial-office.

The mass grading plan calls for earthwork, construction of stormwater management facilities, roadway, sidewalks, utilities and a stormwater collection systems.

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

The architectural site plan for the multifamily project shows six four-story residential buildings, a clubhouse and pool, a car wash and maintenance building, and a dog park and dog wash.

Plans show 150 one-bedroom, 132 two-bedroom and 24 three-bedroom units.

The Preston Partnership LLC of Atlanta is the design firm.

That parcel is in the center of the project, between an internal roadway and I-295. Martin said there is no timeframe for development and Hines will determine whether it maintains ownership and management or another entity takes control.

And that’s not the only big deal popping south of Butler Boulevard. Ikea bought 25 acres south of the Hines site in May from Skinner family members to develop a 294,000-square-fooot store at northwest Gate Parkway and I-295.

Ikea should open in fall 2017.

Hines is a privately owned global real estate investment firm with a presence in 182 cities in 20 countries. It was founded in 1957 and has $89.1 billion in assets under management.

Hines has 109 developments underway. Its property and asset management portfolio includes 457 properties.

Ameris building out Downtown branch

Ameris Bank’s new Downtown branch office at 121 Atlantic Place will be built-out at a cost of $163,033, according to the pending permit.

The bank will move from the corner of Laura and Forsyth streets a few doors down to the ground floor of 121 W. Forsyth St. Plans show a 2,260-square-foot space will be renovated.

The 121 Atlantic Place building was historically known as the Atlantic National Bank Building. Ameris expects to move into it this fall. Signage will go up on the glass storefront windows and doors as well as on the corner at Forsyth and Hogan streets.

Ameris now uses space at 100 N. Laura St. due to its acquisition of The Jacksonville Bank, which was based there.

As CenterState Bank of Florida leases that space and moves its Jacksonville headquarters into the building, Ameris will move its Northbank Downtown branch.

Linton Southside retail on the way

Developer Micah Linton has taken a big step toward his planned retail center along Southside Boulevard, across from the Tinseltown area.

Rimrock Southside LLC, led by Linton, applied for a permit to build a 12,000-square-foot shell retail building on just over an acre at 4490-4492 Southside Blvd.

No contractor is listed for the anticipated $1.5 million construction project.

It would comprise 8,600 square feet of retail space and an end-unit, 3,400-square-foot, 100-seat restaurant with inside and outdoor seating.

Linton is based in Lake City. His area projects include developing and selling a retail center in The Markets at Town Center, a student residential hall for Jacksonville University and Southpoint property for development of the Portiva apartments.

Haines Street warehouse sold

A Jacksonville investment group bought a Haines Street warehouse and intends to put the property on the market for lease.

The 1501 Haines Street LLC group, led by Mac Easton of Pine Street/RPS LLC, paid almost $1.28 million for the property.

The group bought the site July 14 from The Atlantic Land and Improvement Co., led by executives of Jacksonville-based CSX Corp.

Property records show the 146,585-square-foot warehouse, built in 1963, occupies 4.4 acres at 1501 Haines St. The buyer paid the assessed value.

Mark Wainwright with Pine Street/RPS represented the buyer in the transaction.

The Reserve at Beach Boulevard sold

Blue Rock Premier Properties LLC added to its Jacksonville portfolio with the acquisition Thursday of The Reserve at Beach Boulevard apartments.

Through Reserve Property Holdings LLC, Tampa-based Blue Rock paid $24.6 million for the 360-unit, 38-building apartment complex at 11990 Beach Blvd.

It was built in 1974. Blue Rock bought it from LM Capital Group LLC, through LLJ Multifamily Ventures 5 LLC, of San Diego.

The sales price works out to $68,333 a unit.

ACRC Lender LLC, in care of Ares Commercial Real Estate Management LLC of New York, issued an almost $23.3 million mortgage.

Blue Rock Premier already bought five properties, which it rebranded as “The Park,” such as The Park at Trapani along Southside Boulevard. The Reserve at Beach Boulevard is being rebranded The Park at Levanzo.

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