Alex Coley started in the real estate business in 1977 at the age of 19. He was recruited as a residential real estate broker and then changed directions.
"I thought there has to be something more cerebral, less emotional," said Coley, now 54 and a principal at Jacksonville-based NAI Hallmark Partners.
That direction turned to commercial real estate, leading to his latest and, to date, his hallmark deal – 220 Riverside, a 294-unit rental community along Riverside Avenue.
It's been a long time in the making. Coley's son, A.J., 16, was just 8 years old when project planning and negotiating began.
Coley considers it a bridge project to bring residential development Downtown.
Coley was born in Texas and moved with his mother to Phoenix when he was 3 years old. He continued to visit his father in Texas and when his dad moved to St. Augustine, Coley moved, too, completing his senior year of high school there in 1976.
While he was offered tennis scholarships, he accepted a debate scholarship to a community college and completed his college career in 1982 at the University of North Florida, majoring in finance.
During a pause in his college career, he was recruited into the real estate business. He moved May 19, 1979, to Jacksonville "with everything I owned on my seat next to me."
He said "one thing led to another," with those "things" including working for himself, for the RS&H Plantec Realty operation, for developers Steve Wilson and Ed Salem (where "I really learned the development business") and then with developer Jeff Conn.
In 1993, Coley and Conn formed Hallmark Partners. Coley said the group has developed $250 million in real estate projects, including The Concourse office park in Southside.
"I'm really proud of what we did and how it worked," he said.
The 220 Riverside project caps the partnership's 20 years so far.
"It took a long time. It consumed a lot of our resources," he said.
Hallmark partnered with Bristol Development and MAA to develop 220 Riverside, a seven-story multifamily rental community around an elevated central courtyard. It will include 18,000 square feet of retail space, a community area and other amenities. It should be completed in the summer of 2014.
"We said that site is probably the best multifamily site in Duval County," Coley said.
He said 6,500 people work within six blocks of the location and he expects it to appeal to young professionals. He also
said the possible Fresh Market store there would be a draw, too.
Coley's life outside the office and development sites includes flying his airplane, cycling, using his personal watercraft, traveling, practicing Tai Chi, photography, reading, writing and spending time with family, especially his son.
As for his reading, he said he prefers two genres – autobiographical and spiritual.
He's also a certified FranklinCovey leadership trainer.
Asked where he finds the time, he said "there's zero TV," except for the Tennis Channel. He also remains a competitive tennis player.
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