Agents at The St. John, a high-rise to be built on the south bank of the St. Johns River in downtown Jacksonville, say they generated sales of more than $15 million during the second quarter of 2007.
“We had a tremendous jump in home sales during the past quarter at The St. John and expect this momentum to continue,” said Walt O’Shea, vice president of Hines. “The market has been increasingly receptive as we continue to educate homebuyers on the value of green building and the lifestyle of a luxury urban environment.”
In addition to the overall sales figures, Hines reported more than one-third of the tower’s penthouse homes have been sold at prices in excess of $600 per square foot. The penthouse residences range in size from 1,900 square feet to more than 3,800 square feet.
Groundbreaking for the tower is expected later this year with occupancy slated for 2009. Preliminary pricing of units is estimated at a range of $320,000 to $2.5 million.