The developer plans to build a 260-unit project at 12397 San Jose Blvd.
Rise: A Real Estate Company assembled multiple properties in Mandarin for construction of The Julington, a 260-unit apartment development at 12397 San Jose Blvd.
Duval County Clerk of Courts records show that Rise, through Mandarin Properties I LLC, paid $3.4 million for four vacant properties Dec. 11 and another vacant site July 27.
Rise bought the properties, totaling 8.67 acres, from separate owners.
American Momentum Bank of Tampa is financing the project with a $29.7 million mortgage.
The city approved three permits Dec. 7 for Rise to build The Julington at a construction cost of almost $27.2 million.
The city issued a permit Dec. 3 for the $1.7 million site-clearing and horizontal development for the apartments.
The four permit applications total almost $29 million.
Rise Development Vice President Matthew Marshall said previously the total investment will be $46 million.
Rise General Contractors is the contractor. England-Thims & Miller Inc. is the civil engineer. Charlan Brock Architects of Maitland is the architect. Codes-ABC Inc. handled code compliance.
The four-story Julington, south of Marbon Road and north of Julington Creek, is designed as 121 one-, 123 two- and 16 three-bedroom plans.
Rental rates have not been released.
Marshall said one-bedroom plans are 775 to 875 square feet; two-bedroom plans are 1,025 to 1,158 square feet; and three-bedroom plans are 1,300 square feet.
He said the construction timeline will be 18 months with apartments delivered in phases through then.
Amenities include a clubhouse, pool, fitness center and two courtyards.