Preferred Growth Properties, the developer who proposes a mixed-use project near St. Johns Town Center south of the new Town Center Exchange, expects to complete its property purchase Jan. 28.
Spokeswoman Misty Skipper said today that Preferred Growth Properties is continuing to move forward with the development plan for about 45 acres near Town Center Parkway and Gate Parkway.
“The exceptional location has proven its viability as it continues to generate significant tenant interest,” she said in an email.
According to Skipper, conversations with potential tenants and partners continue to shape the mix of commercial, hotel, office, retail, multifamily residential and recreational uses that may ultimately be part of the development.
Preferred Growth Properties has extended its closing date as it refine its development plans, she said.
Preferred Growth Properties, a subsidiary of Birmingham, Ala-based Books-A-Million, has a contract to buy the property from the Arthur Chester Skinner III Trust.
In March, the attorney for the landowner said the property sale could be completed this year. The developer and owner would be PGP Jacksonville TC LLC. The planner and engineer is ETM Inc.
Preferred Growth Properties has 61.35 acres west of the town center under contract. Of that, about 45 acres can be developed, which the company intends to do with stores, offices, a hotel, recreation areas and apartments and condominiums.
The developer also proposes to pay for traffic improvements at the intersection of Gate and Town Center parkways and to Town Center Parkway that will add turn lanes, access points and a trail for pedestrians, runners, bicycles and others.
The Preferred Growth Properties site is south of land that Core Property Capital wants to buy from other members of the Skinner family for a mixed-use development called Town Center Exchange.
Core Property Capital intends to acquire 63.3 acres, of which almost 30 acres can be developed into apartments, a hotel and about 100,000 square feet of retail and restaurant space. The project is named Town Center Exchange.
That property is west of Town Center Parkway, from Midtown Parkway north to Brightman Boulevard.
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