Summit Contracting Group announced April 27 it started site work and utilities for the Southbank Urban Residences, an eight-story, 185-unit apartment community along the St. Johns River.
Jacksonville-based Summit said it will comprise studio, one-, two- and three- bedroom apartments, a parking garage, a swimming pool on the fourth level overlooking the river, a club room with lounge areas, a fitness center, dog walk area, mail and package center, game room, and direct access to the Riverwalk.
Summit said it would be completed in early 2022. The city issued a foundation permit Jan. 24 at a job cost of $1.7 million and site-clearing permit April 4 at a cost of $1.5 million.
The developer is Ventures Development Group LLC, and the architect is Niles Bolton Associates.
Geismar, Louisiana-based Ventures Development Group paid $3.75 million March 13 for the 2.89 acres at 959 Prudential Drive on the Southbank riverfront downtown between the Acosta Bridge and the Eight Forty One building, which is anchored by One Call and Baptist Health.
In 2017, the Downtown Investment Authority approved a 13-story, 300-unit development for Prudential Drive site. It approved a Recapture Enhanced Value Grant of up to $7.88 million over 20 years.
GEM Realty Capital Inc. of Chicago, the previous owner of the Eight Forty One building, sued Ventures over procedural issues regarding building height changes. They reached a settlement in the summer of 2018.
In October 2018, the city approved a plan to scale back the project to eight stories and other variations.