Condo Capital Solutions, a Colorado based investor providing successful work-outs for multi-family projects, has acquired Old San Jose on the River, a residential riverfront community in Jacksonville’s Lakewood area.
The project stalled several years ago and has been unfinished.
The community’s original developer, Jay McGarvey of McGarvey Residential Communities, will be the development manager.
The project has three completed buildings including a five-story, 18-unit condominium building on the St. Johns River, a four-unit condominium residence and three townhome residences.
Condo Capital Solutions and McGarvey Residential Communities have repositioned the community and plan a sales launch, construction of amenities and release of new product and pricing information soon.
Old San Jose on the River is the second Jacksonville community acquired by Condo Capital Solutions: In July 2009, the company took over Ocean’s Edge, a condominium project in South Jacksonville Beach.