Jacksonville real estate development company Corner Lot sold a portion of its 1,282-acre property in Northwest Jacksonville to the state of Florida on April 30 for $30.36 million.
The property is south of Acree Road about 10 miles southwest of Jacksonville International Airport and 7 miles northwest of Interstate 295.
The state bought it through the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida, the entity that holds title to state-owned lands in the state.
Corner Lot sold it through Acree JV LLC.
It sold about 1,200 acres, according to Billy Zeits, vice president of governmental affairs for Corner Lot.
Corner Lot is combining the remaining acreage with adjacent property it owns to develop about 400 acres with about 130 to 150 single-family homes. The company is in the planning and permitting stage. No dirt has been moved.
Northeast Florida Timberlands and Watershed Reserve is written on the deed for the property sale. That conservation project stretches from the Nassau River north of Jacksonville to Trail Ridge in Clay County.
In 2022, Corner Lot and DLP Capital announced they were partnering to develop a 1,400-acre mixed-use community at the site.
Corner Lot said it acquired four parcels for the project totaling 1,480 acres from H&W Timber LLC in 2022 for $15.3 million.
“Our goal is to develop a community for those who want to live and work in a beautiful coastal city that is also one of the hottest urban markets in the country,” Corner Lot CEO Andy Allen said then.
Corner Lot said at the time that the community would include single-family homes along with 200 acres of commercial development and more than 600 acres of conservation land.