The Top Deals of 2022: Governors Park

From billion-dollar sales to apartments and a naval museum, this is one of the top deals in Northeast Florida over the past year.

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  • | 12:00 a.m. January 3, 2023
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Governors Park

After acquiring the Clay County property for $85 million, BTI Partners plans a community with 4,000 homes.

Fort Lauderdale-based BTI Partners announced Dec. 20 that it bought the 3,300-acre Governors Park property in Clay County and intends to develop 4,000 homes there along with apartments, commercial and industrial space, hotel rooms and a golf course.

According to the deed, the property was purchased Dec. 16 by Governors Park Property Holdings LLC through Westport Capital Partners of Stamford, Connecticut, for $85 million. 

Governors Park is west of U.S. 17 and north and south of the First Coast Expressway. It is the former Gustafson family ranch property that was owned by the Davis family and The PARC Group.

BTI said it plans 4,000 single-family homes and 2,000 multifamily units for the site in Green Cove Springs. 

Additional plans include 840,000 square feet of commercial/retail space, 700,000 square feet of office space, 400 hotel rooms, 2 million square feet of light industrial space and an 18-hole golf course.

“Our next step is to put the infrastructure in place and partner with home builders who will be looking to grow their housing inventory south of Jacksonville in the next two to four years,” BTI Partners CEO Noah Breakstone said in a news release.

It is expected to take two to four years to prepare the property for infrastructure to begin vertical construction.