by Miranda G. McLeod
Staff Writer
The sales team of The St. John, the 51-story condominium tower slated for the Southbank, opened its sales office for a reception for more than 40 local lawyers Thursday.
Why attorneys?
“This is the target market we’re going after — professionals with ties to Downtown,” said project manager Vikhram Mehra. “These are people looking at a lifestyle shift in the next 2-5 years, and since the project won’t be delivering for another three years, it allows them time to think about that. They want convenience to ‘lock and leave,’ they want space and the architecture. These are all things we heard (Thursday).”
Mehra, who has been working in Atlanta for Hines — the developer of the project that’s also developing Palencia in St. Johns County — said there’s a nationwide trend of people moving back to the downtowns.
“It’s happening in markets like Jacksonville that have been traditionally spread out, and there’s a renewed energy coming back to the city,” he said. “And there’s a reason people want to be close to the city, like the arts and cultural venues. They want a more vibrant lifestyle without giving up space.”
Condo towers like The St. John affords the luxury of having a vacation home or a home office to those still working full-time jobs close to the employment center, which is important, said Mehra.
One feature of The St. John that roused some of the lawyers was a $1.5 million unit with three bedrooms, two and half baths and an office. But more so, this unit has a 1,900 square-foot patio adjacent to the amenities center, which overlooks the Northbank.
It’s on the eighth floor of the building with a private gate between the patio and a 90-foot lap pool.
The sales team is allowing corporations to purchase condos in the tower, which will have 300 residences, each with a view of the St. Johns River, said Kathy Lee Menninger, broker/sales associate of The St. John. The $1.5 million unit is one of four condos that are totally unique within the building, she said.
Only 100 units have been released for sale, and the sales team has written 10 contracts. The ground breaking is expected in the first quarter of next year and construction will take 30 months from ground breaking.
Menninger said all permits and condominium documents have been pulled or filed.
“We’re ready to go,” she said.