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Jax Daily Record Friday, Jan. 14, 202209:10 AM EST

Skinners sell Powers Avenue land for residential development

Lennar homes plans single-family homes and townhouses on the 74-acre site.

The Skinner family sold 74.4 acres along Powers Avenue on Dec. 22 for development of single-family and multifamily town houses.

Through Papa’s Legacy LLC, the Skinner family sold the land for almost $8.1 million to an affiliate of New York City-based Kennedy Lewis Investment Management called KL LHB3 AIV LLC.

Kennedy Lewis Investment Management is a credit manager that creates funds to raise capital. 

A July 9 site plan shows that Lennar Homes LLC of Miami is the developer of the infill project.

The city enacted Ordinances 2021-0407 and 0408 on Sept. 14 to rezone the site and change the land use of the vacant property, which is across Powers Avenue from Samuel W. Wolfson School for Advanced Studies.

The site plan for the Powers Road Development.

The property is bounded by the Florida East Coast Railway rail yard, Baker Skinner Park, Powers Avenue and a personal storage facility.

Plans show 130 single-family homes and 337 town houses.

The multifamily portion comprises 46 buildings.

Plans show 34 eight-unit buildings; one seven-unit building; seven six-unit buildings; two five-unit buildings; and two three-unit buildings.

The ordinances say the “Arthur Chester Skinner, Jr. Revocable Living Trust Dated September 10, 1981” is the property owner. Wyman Duggan with the Rogers Towers law firm represented the owner in the rezoning and land use.

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

The zoning was changed from Industrial Business Park to Planned Unit Development. The land use was changed from Business Park and Light Industrial to Medium Density Residential.

Kennedy Lewis says it targets financing opportunities throughout North America and Europe.

About a year ago, it announced that it completed fundraising for a master fund with $2.1 billion of capital commitments.

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