Block One Ventures busy with multiple projects

The affiliate of Trevato Development Group also is developing in Bartram Commons.

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Block One Ventures does not identify its funding on its site.

But it refers to the person or entity.

“Block One is backed by a discretionary proprietary equity source. Block One is able to make quick investment decisions, providing improved certainty of close for property sellers,” it says.

“Block One Ventures, an affiliate of Trevato Development Group, is a multi-family development company based in Jacksonville, Florida, dedicated to opportunities whereby the company can capitalize on its local knowledge and relationships to deliver above average returns.”

The site says Block One “is focused on selective Northeast Florida sites in the path of growth and with competitive barriers to entry.”

Block One Ventures announced Dec. 31 it bought 38.93 acres in Bartram Commons in Duval County.

The property is near Interstate 95 and Florida 9B on the north side of Racetrack Road. Block One bought the property for $33 million on Dec. 30.

Block One said in a news release the purchase is its largest to date of undeveloped land and is four times the size of its previous largest purchase. 

Jacksonville Beach-based Block One Ventures said in the release it plans to develop the property in three projects to total 1,069 multifamily units next to the growing Durbin Park community.

Block One anticipates construction will start in the third quarter of 2022. 

It said the development will be its eighth, ninth and 10th projects in Northeast Florida.

Previous projects include Courtney Meadows at Town Center, Soleil and Seaglass at Ponte Vedra Beach, The Point at Town Center, The Reserve at Nocatee, Argyle Lake at Oakleaf and The Station at San Marco, which is in the early phases of construction.

Block One Ventures, founded in 2015, says it is a commercial real estate company with expertise in identifying quality real estate opportunities focused on building multifamily developments and on acquiring premier real estate with long-term potential for significant value creation.