WEDNESDAY December 2, 2020
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Daily Record JACKSONVILLE
THE MATHIS REPORT
CSX Corp. in deal to acquire Pan Am Railways
Daily Record JACKSONVILLE
The Julington apartments about to rise in Mandarin
The Massachusettsbased company operates a 1,200-mile rail network and a partial interest in another 600-mile system.
Daily Record Daily Record JACKSONVILLE
BY MARK BASCH CONTRIBUTING WRITER
pliance. The four-story Julington, north of Julington Creek, is designed as 121 one-, 123 two- and 16 three-bedroom plans. Marshall said one-bedroom plans are 775 to 875 square feet; two-bedroom plans are 1,025 to 1,158 square feet; and three-bedroom plans are 1,300 square feet. Marshall said Rise is not releasing rental rates yet, but said they will be competitive in the market. He said the property purchase and financing is projected to close Dec. 4, followed by construction mobilization. Marshall said the construction timeline will be 18 months with apartments delivered in phases through then. Amenities include a clubhouse, pool, fitness center and two courtyards.
CSX Corp. announced an agreement Nov. 30 to acquire Pan Am Railways Inc., a Massachusetts-based company that operates a regional rail network in the Northeast. Pan Am operates a 1,200-mile rail network and a partial interest in another 600-mile system. Jacksonville-based CSX, which operates rail networks through most of the eastern U.S., said the deal will expand its reach in Connecticut, New Foote York and Massachusetts and add Vermont, New Hampshire and Maine to its network. “In Pan Am, CSX gains a strong regional rail network in one of the most densely populated markets in the U.S., creating new efficiencies and market opportunities for customers as we continue to grow,” CSX Chief Executive James Foote said in a news release. “We look forward to integrating Pan Am into CSX, with substantial benefits to the railserved industries of the Northeast, and to working in partnership with connecting railroads to provide exceptional supply chain solutions to New England and beyond,” he said. Terms of the deal were not dis-
SEE MATHIS, PAGE 2
SEE CSX, PAGE 2
JACKSONVILLE
Special to the Daily Record
Rise: A Real Estate Company is developing The Julington, a 260-unit apartment community at 12397 San Jose Blvd. in Mandarin.
KAREN BRUNE MATHIS EDITOR
Permits are in review for site clearing and construction for the $46 million community.
Developer Rise: A Real Estate Company intends to start work next week toward construction of The Julington, a 260-unit apartment development in Mandarin. “We focused on this part of the community due to a great mix of retail, residential and the lack of modern apartment homes,” said Development Vice President Matthew Marshall. The city is reviewing four permit applications for site clearing and construction that total an estimated $29 million on 8.98 acres at 12397 San Jose Blvd., south of Marbon Road. Marshall said the total investment will be $46 million. Rise General Contractors is the contractor. England-Thims & Milller Inc. is the civil engineer. Charlan Brock Architects of Maitland is the architect. Codes-ABC Inc. is handling code com-
Incentives approved for Hillman Group expansion The Jacksonville City Council signed off Nov. 24 on a $200,000 property tax incentive for Hillman Group Inc.’s planned North Jacksonville distribution center expansion. The Council voted 17-0 to offer Hillman a five-year Recapture Enhanced Value Grant at 50% in return for creating 50 jobs. Resolution 2020-0667 also waives the city’s public investment policy provision requiring that the jobs offer annual wages equal to or greater than the state average of $49,472. The proposed expansion would add 95,523 square feet to the Hillman distribution center at 3650 Port Jacksonville Parkway.
VOLUME 108, NO. 12 • ONE SECTION