The process to sell JEA’s riverfront property along the Southbank Downtown that began nearly 14 years ago may soon come to an end.
On Tuesday, two bid proposals were accepted by the public not-for-profit utility. One was from Elements Development LLC, a partnership between developers Michael Balanky and Peter Rummell.
Their plan for the site is a Healthy Town concept, a residential community for all ages designed for people seeking a healthy environment and life-
style.
The other respondent, Atlanta-based RocaPoint Partners, is an investment firm comprising Phil Mays, former portfolio manager and legal affairs manager for EverBank Commercial Advisors; Patrick Leonard, former residential and commercial real estate development executive at EverBank; and Adam Flatto, president of the Georgetown Co., a privately held real estate investment and development company based in New York City, according to the company’s website.
RocaPoint did not return phone calls Tuesday for comment.
JEA spokeswoman Gerri Boyce said the two proposals will be considered by an evaluation committee Oct. 21 and then presented to the utility’s board of directors.
She said the board will consider factors other than the financial offers for the 28.6-acre parcel up for sale.
“Since this is such an important piece of property, the projects will be evaluated and then the board will decide what’s best for the community,” Boyce said.
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