Tamaya, the high-end master-planned community “between the city and the sea,” will soon diversify its offerings to homebuyers.
Developer ICI Homes sold a 30-acre parcel to Waypoint Residential Services for $6.3 million.
The real estate investment manager intends to develop a 380-unit Class A luxury complex that will feature three- and four-story garden apartment buildings, attached garages and a highly-amenitized clubhouse.
Also, ICI Homes will open Bella Nika — its second single-family home neighborhood — April 1.
The new phase will offer four lot sizes, including a more affordable 50-foot-wide option.
“There’s much more now for everybody,” said Don Wilford, president of ICI Homes North Florida. “It means about 30 percent more people can afford to live here.”
The smaller lot size lowers the entry price for a new home at Tamaya from the mid $300,000s to the low $300,000s. Starting prices for homes today top out above $500,000.
Tamaya is entering the new phase because its first neighborhood of Belle Nina is nearly sold out, Wilford said. As of mid-March, only 26 lots remained of the 169 platted. The second phase will have about 250 lots.
Tamaya made news when it opened two years ago for its size, over 1,000 homes at build-out, and for the quality of construction. Tile roofs, paver driveways and 16 highly customizable floorplans with three elevations would make for a neighborhood where no two houses looked alike.
Multifamily, café retail, a resort-style amenity center and even a small school were components that were always intended for the community as well.
With the sale to Waypoint Residential, that part of the vision is now firmly underway.
Waypoint Residential’s site is one of two set aside for multifamily development. The second one is being reserved for the multifamily developer for another two years, said Chuck Diebel of Colliers International Northeast Florida.
Diebel and his Colliers colleague, John Lining, represented the seller in the deal.
Both parcels are north of a parcel set aside for “café retail,” on the corner of Beach and Kernan boulevards.
Tamaya’s location, along major arteries 10 minutes from the ocean, Downtown and Jacksonville’s Southside, made it a strong play for multifamily development, said Bradley Coe, with Colliers International.
He and Douglas Blair, also of Colliers, represented Waypoint Residential in the sale.
Having a luxury apartment complex within the footprint of a successful high-end master-planned community is an added benefit.
“It’s rare to have a for-rent community that sits within a neighborhood where homes are selling in the above-$500,000 range,” Coe said.
The Waypoint Tamaya multifamily complex will include one-, two- and three-bedroom units, ranging in size from 620 to 1,240 square feet.
Rent is expected to be $1.30 to $1.40 per square foot. and the total project is expected to cost in excess of $50 million.
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