by Miranda G. McLeod
Staff Writer
Randy Shelton says there is one major misconception about the first condo tower built on the Southbank — The Strand is not, and was never sold as, an apartment building. In fact, there hasn’t been a sale yet. But the condominium tower will be on sale within the next two months, and the first tenants should be in by January, upon completion of construction.
Initially the project was built as a high-end rental complex. But after studying the market, talking with the City and seeing the success of The Strand’s sister tower, The Peninsula, which has already sold out but won’t be done with construction for another 18 months, the Miami-based real estate development firm American Land Ventures decided the project was better served as a for-sale complex.
“It’s not a conversion because it was never sold that way (as apartments),” said Randy Shelton, vice president of sales and Broker in Charge for Ameriland Realty. “We opted to offer for-sale rather than ever offer for-rent units.”
Shelton said the decision was partially based on the strength of Jacksonville’s Southbank and San Marco areas.
“We are fulfilling a need of the community for housing,” said Shelton. “Jacksonville has a need for downtown housing.”
Buyers will also benefit from the decision to go with condos. Because the project started more than 18 months ago, construction prices for the Strand were locked in at a time when construction costs were lower.
“Our prices reflect two year old construction prices,” said Shelton.
The units at the Strand range in size from 651 square feet to 1,812 square feet and start in the low $200’s up to the mid $800’s.
The sales center opens Nov. 18 and and the company is taking reservations. Prior to the public opening, those who already have reservations are allowed to go to contract at pre-sales prices.
The finishing touches are currently being added to the interior of the building and many of the lower floors are near completion.
“We’re bringing the upper floors to the same level as the lowers and we’ll close from the bottom up,” said Shelton.
He describes kitchens in the units as European-modern contemporary and they have many large windows, bringing in a lot of light.
“This building is uniquely designed with strong, positive sight lines,” he said. “The first thing you see walking in is the river.”
Shelton described one particular living space as a “sexy” unit because of its signature view of the St. Johns.
“You can sit in bed and see the bridge lit up at night or watch the sunset,” Shelton said of the space. “There is no other unit in Jacksonville that offers the most photographed view of the city.”
Another major attribute of the building is the closets, according to Shelton.
“It was built to offer massive closets.”
There are 13 units on each floor of The Strand, 295 units all together.
Shelton joined American Land Ventures and its real estate arm, Ameriland Realty in July.
He said the Jacksonville market has been wonderful, relatively speaking. “The rest of Florida is just paying for its sins.”
He hopes to find enough to do in Jacksonville, a city he said is in the crux of things.
“The rest of Florida is like a dead zone and Jacksonville stayed insulated because it never got out of hand building,” said Shelton. “Northeast Florida is as good a market as there is in America.”