by J. Brooks Terry
Staff Writer
According to developers of the St. John’s Center, the Southbank’s answer to a high rise residential project, visible site work will begin by spring.
Included in the mixed-use development is The Strand, a 36-story rental tower, and the slightly smaller Peninsula, an upper-end condominium high rise.
“Right now, we’re actually in the process of building our sales offices on the property,” said Michael Gentry, American Land Ventures sales and marketing vice president.
The Miami-based company is overseeing the project.
“Once they are finished we can mount a sales strategy for units in the Peninsula,” he said. “When you drive by the property, that’s what you’re seeing.”
Gentry said the offices will likely be open within a few weeks — they’ll be staffed by local and transferred employees — and the construction start date of the Peninsula will be contingent upon the number of units sold.
A “VIP opening” will likely kick off sales efforts sometime in February with walk-up and general appointments accepted shortly after.
“At this point, things look very promising,” said Gentry. “There appears to be a strong demand to buy at in a major residential development on the Southbank and we’re obviously very pleased to be able to appeal to that demand.”
Despite the absence of a company phone number near the property or on the development’s website, American Land Ventures has reportedly amassed a list of over 100 interested parties.
“People seem pretty anxious, so we expect to have about half of the units sold within six months,” said Gentry. “That’s our current goal and we’ll get started on the hard construction right around then.”
The Peninsula houses approximately 250 units. Styles and sizes vary, but one, two and three bedroom layouts will be available and priced from approximately $200,000 to over $1 million.
According to Gentry and company president Granvil Tracy, there have been few snags associated with development efforts.
“Very few problems,” said Gentry. “Apart from anything happening with our construction documents, we don’t expect any problems or delays.”
Tracy concurred adding, “we’re a little behind, but not too badly.
“We addressed an environmental concern we had, and now we’re moving along nicely. And as far as developments go, we’re actually doing very well.”
Gentry said construction at The Strand should begin by “latter part of first quarter 2004.”
“Very soon,” he said. “And it will probably take about two years to build that building.”
Featured in the rental tower are 295 apartments with “similar architecture” to that at the Peninsula, but smaller and with “fewer amenities.”
Referring to San Marco Place, the recently announced condominium project just across from St. John’s Center, Tracy said he’s not worried about the competition.
“Not at all,” he said. “I don’t want to sound overly optimistic, but I think it’s important to create a critical mass downtown. It validates all of us and what we all are trying to do there. The more activity, the better.”
Tracy visits Jacksonville several times a month.
“It’s hard to get a good reading, but there are a lot of high-end renters and buyers downtown and I think we can actually help each other,” he said.
Tracy said a third development, likely a commercial component, may be altered based upon the performance of both the rental and condominium projects.
“We’ll have to see how they do and that will govern how proceed,” he said. “We’re unsure right now, but I own the property so I can tell you we’ll definitely be developing it for something. It might wind up being my house.”