A Texas company that specializes in building affordable apartment communities bought TailGate Bar & Parking near the northeast corner of EverBank Stadium for $5.1 million on Jan. 29.
The 1.45-acre property is at 441 Haines St. It is near Gator Bowl Boulevard north of East Church Street.
Frisco, Texas-based The Express Group of Cos. bought the property through Express Development Inc.
Arvind Shah, president of AS/GBI Inc. of Jacksonville, was the seller.
The sale was brokered by Matt Demir of Xera Realty.
It has not been confirmed what will go on the property, Demir said. Plans could be revealed as early as the end of February.
The Express Group of Cos. specializes in building and managing affordable, multifamily communities using tax credits.
Its website describes itself “… as a ‘one-stop shop’ for affordable housing — handling everything from development and construction to property management.”
Thomas Tibbetts IV founded the company in 2007. After his death in 2014, his wife, Kris Tibbetts, became the company president, according to internet accounts.
Over the past eight years, it has built more than 10 single- and multifamily subsidized communities throughout Oklahoma.
The Express Group of Cos. did not respond to requests for comment about its plans for the Jacksonville property.
TailGate Bar & Parking includes a two-story, 6,535-square-foot building that was built in 1958.
According to its website, it is open during EverBank Stadium events and has parking for about 150 vehicles. It is also available for private and public events. It has pool tables, dart machines, music and televisions.
South of TailGate Bar is a vacant 1.49-acre lot owned by the city of Jacksonville. North of TailGate Bar are five small parcels owned by seperate property owners.
Property records show Shah acquired the property in 1985 for $160,300. He then sold to AS/GBI Inc. for $306,900 in 2008.