Developers Prospect Capital Group and Perimeter Realty have announced the conversion of the Arbor Club Apartments into gated luxury condominiums that will provide owners with private beach access.
Ocean Grove, located off Highway A1A next door to Sawgrass, has one, two and three-bedroom homes in the private community priced from $125,000.
The neighborhood’s residents-only gated beach access is located just a few blocks from the property, one block north of the Ponte Vedra Inn and Club. The community will offer regularly scheduled shuttle service to and from the beach access.
Prospect Capital Group and Perimeter Realty have partnered to develop Ocean Grove.
“We saw Ocean Grove as the perfect model of everything we wanted to accomplish with superior construction, large open floor plans, first rate finishes, and outstanding amenities. Being able to offer all of this, along with private beach access in the center of Ponte Vedra Beach, all at a very affordable price point presented an exceptional opportunity,” said Perimeter Realty President Don Fort.
“Ocean Grove represents an outstanding investment value. It is a rarity to find condominiums of this size, so close to the beach, priced this well,” added Lance Lundberg, Managing Partner with Prospect Capital.
In addition to private beach access, Ocean Grove will provide residents with numerous other recreational amenities including a resort-style swimming pool with sun deck and spa; a clubhouse with outdoor patio bar, summer kitchen; and a media room with theater-style seating. The community also features two lighted tennis courts; a beach volleyball court; lakefront gazebo and a picnic pavilion.
Ocean Grove’s condominium homes all feature spacious, open floor plans; screened-in patios and balconies; well-appointed kitchens overlooking ample living areas; and cozy master suites.
Prospect Capital Group is a private real estate investment, operating and development company founded in 1995. Perimeter Realty, who manages Ocean Grove, is one of the most respected property management companies in Florida; they own and manage over 1,500 multifamily units and over a million feet of commercial space in Florida and Georgia
Together, the companies have managed and developed over $800,000,000 of condominiums and multifamily housing in the Southeast and Northeast. In 2003 both companies joined forces with a commitment to develop condominium housing of outstanding value in North Florida.